Argentina’s soybean sales doubled in the first 18 days of June from a year earlier to 4.71 million tonnes as farmers rushed to seal deals ahead of a planned hike in export duties on July 1. The government of Libertarian Javier Milei temporarily cut soybean taxes at the start of the year, with the cut set to expire in July. Argentina, also a major corn and wheat producer, relies on soybean export sales as the biggest source of much-needed foreign exchange for its ailing economy. It needs to rebuild dollar reserves under a $20 billion IMF program.
SOURCE: UKR AGROCONSULT
https://ukragroconsult.com/en/news/argentinas-soybean-sales-surge-ahead-of-export-duty-hike/