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Argentina Raises Export Tax on Commodities


Faced with a need to restructure $100 billion in debt, the incoming Administration of President Alberto Fernandez has temporarily suspended Agricultural exports pending an increase in the export tax from 30 to 33 percent.  Effective February 26th, traders were prohibited from concluding new export deals in anticipation of the introduction of the increased tax.


During the past decade Argentina has emerged as a major supplier of soybean meal, soybeans and corn.