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Email Content: Poultry Industry News, Comments and more by Simon M. Shane

Argentina Imposes Strict Fiscal Restraints


The Government of Argentina has announced that a 4 percent tax will be imposed on grain exports effective October 3rd. This action together with export taxes on other items and intensified austerity will be imposed. Argentina is negotiating a $50 billion emergency loan from the International Monetary Fund to maintain the functions of the Government.

It is intended to lift the export taxes when the financial situation becomes more stable. Currently, inflation is running at 20 percent, and the Argentina Peso has declined against the U.S. dollar by 50 percent year to date.

It is not anticipated that Argentina will obtain any higher price for their corn and soybeans with prices determined by international markets. Exporters have the advantage of receiving payment in dollar currency protecting them from peso devaluation.

Copyright 2019 Simon M. Shane