The Argentine government on Tuesday reduced a tax on beef exports by 25% to 6.75% from 9% previously.partly fulfilling a promise that libertarian president Javier Milei had made to agricultural producers.
Argentina is a traditional world exporter of beef, The main destination of which is the Chinese market, which in the first half of the year bought 70.8% of the 454,712 tons exported from the South American country..
The measure was taken “to promote sales to foreign markets, improve the income level of producers and processors, favoring insertion in international markets“, stated the decree published in the Official Gazette.
Milei, a right-wing ultraliberal, He had promised during his presidential campaign last year that he would eliminate taxes on agricultural exports..
The measure was celebrated by Confederaciones Rurales Argentinas (CRA), one of the most important agricultural associations in the country, which on social network X said that “This is an important step in the right direction for our agro-industrial sector.“.
“We welcome this measure and reaffirm our position: We firmly believe that all withholdings must be eliminated within this term of government.“, CRA added.
The Argentine government continues to apply a 12% tax on wheat and corn exports, and a 33% tax on soybean shipments..
