Export duty on soy products and grains increased in Argentina

02-Jul-2025 12:34 PM

Buenos Aires. In the Latin American country Argentina, the export duty on agricultural products such as soybean, soy oil, soymeal, maize, and wheat has been increased, and the new rates came into effect from July 1, 2025.

Under the revised structure, the export duty on soybean has risen from 26 percent to 33 percent, on soybean oil and soymeal from 24.5 percent to 31 percent, and on maize and wheat from 9.5 percent to 12 percent.

This move has surprised the industry and trade sector, especially as production of all these commodities is expected to be better this year compared to last.

It is noteworthy that the current government had earlier promised to gradually reduce export duties on these agricultural products, with the goal of eventually eliminating them.

However, after a brief period of reduction, the duties have now been raised again—returning to the same levels that were in place when the new administration assumed office.

While the initial reduction was aimed at boosting exports, the current hike is intended to increase government revenue.

Argentina is the third-largest producer and exporter of soybean, and ranks first in the export of soy oil and soymeal. It is also the third-largest exporter of corn and the fourth-largest producer. Additionally, Argentina is among the top seven countries globally in wheat exports.

Harvesting of the new soybean and corn crops in Argentina has concluded, but the pace of farmer sales has remained slow.

Despite this, the country managed to export a remarkable 6.1 million tonnes of soybean and its by-products in June—22 percent higher than the five-year average of 5 million tonnes.

Anticipation of higher export duties had prompted a surge in soybean sales in the first 18 days of June, nearly doubling previous levels. However, following the duty hike, the pace of resales is expected to slow down.