Argentina Soy Sales Spike Ahead of Tax Deadline; Could Stall in July
Argentina's soybean sales doubled in the first 18 days of June versus a year earlier to 4.71 million tons as farmers raced to close deals before a planned hike in export taxes on July 1, official data analyzed by Reuters and industry sources showed.
The government of libertarian Javier Milei temporarily lowered taxes on soy at the start of the year, a cut which expires in July. That will see the tax on soybeans rise to 33% from 26%, with soy oil and soymeal both going to 31% from 24.5%.
The data, public but previously unreported, underscore how...
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