Potential Reduction in Export Duties on Soybeans and Corn in Argentina
28-May-2026 04:43 PM
**Buenos Aires.** Argentina—the world's leading exporter of soybean oil and soybean meal, and the third-largest exporter of corn—has formulated a plan to gradually reduce export duties on soybeans, its key value-added products, and corn over the coming years.
Argentina's Minister of Economic Development (Finance) stated that the department intends to lower export duties on these critical agricultural commodities over a two-year period. Currently, an export duty of 24 percent applies to soybeans; this rate is scheduled to be reduced on a monthly basis throughout 2027. By the end of the following year, the export duty is set to be lowered to 21 percent, and by the end of 2028, it is targeted to reach 15 percent. Export duties on soybean oil and soybean meal will be reduced in a corresponding manner.
According to the Minister of Economic Development, the export tax on soybeans will be reduced by 0.25 percentage points each month during 2027, while the monthly reduction rate will increase to 0.50 percentage points in 2028. Consequently, the export duty will decrease by a total of 3 percentage points in 2027 and by 6 percentage points in 2028. Over these two years, the cumulative reduction in the export duty on soybeans will amount to 9 percentage points.
As for corn, it currently attracts an export duty of 8.5 percent. This duty will be reduced by 0.25 percentage points on a quarterly basis; as a result, over the course of 2027, it will decrease by a total of 1 percentage point, bringing the rate down to 7.5 percent. In 2028, the duty will be reduced by 0.50 percentage points every three months, resulting in a total reduction of 2 percentage points.
Consequently, by the end of 2028, the export duty on corn will have dropped from 7.50 percent to 5.50 percent. In India, the largest volume of soybean oil is imported from Argentina, while a significant quantity of sunflower oil is also sourced from the same country. If the trend of reducing export duties on soybean oil continues, India's import costs for the commodity could see a decline starting next year.