Argentine milling industry demands to eliminate withholdings on wheat flour exports

Wheat Flour

Argentina

Regulation & Compliances

Market & Price Trends

Published Jan 19, 2024

Tridge summary

The Chamber of mills from four provinces in Argentina urgently demanded the removal of export duties on wheat flour, citing the potential for the country's milling industry to become a pillar of economic recovery. They asserted the capacity to export up to 5.5 million tons of wheat flour per year, but stated that the current export volumes are only around 600 thousand tons per year due to obstacles like high duties and logistical challenges. The Chamber also expressed understanding for the government's need to address the country's crisis, but emphasized the importance of prioritizing the interests of the whole over individual interests.

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Original content

Through a document, the Chamber that brings together mills from Santa Fe, Córdoba, Tucumán and Buenos Aires, covering approximately 60% of the national milling industry, “urgently” demanded the removal of export duties on wheat flour. “The Argentine milling industry has the certain possibility of becoming a pillar of the country's economic recovery, since it has an installed idle capacity of approximately 50%,” the entity stated. And they assured: “We can export up to around 5.5 million tons of wheat flour per year, taking into account that currently we only export around 600 thousand / year. To achieve this, we need Export Duties (DEX) to disappear, not increase them.” Although the CIM expressed their understanding of the need and urgency of the recently elected National Government to take measures to overcome the “current serious crisis,” they assured that it is “imperatively necessary that we all put the interest of the whole ahead of individual interests.” . The current main ...

Source: Agromeat