Jun 30, 2025

Export Taxes Increase in Argentina, Soy 33%, Meal and Oil 31%

Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.

Barring some unforeseen developments, export taxes on agricultural commodities in Argentina will increase starting July 1, 2025. For soybeans, the tax will go from the current 26% to 33%. For soybean meal and soybean oil, the tax will go from the current 24.5% to 31%. For corn and wheat, the tax will go from the current 9.5% to 12%.

The Milei administration is backtracking on their promise to reduce export taxes even though they keep insisting that the ultimate goal is to eliminate export taxes altogether. If the new tax rates sound familiar, it is because they are now back to what they were when Milei took office.

Farmer selling in Argentia had been slow, but it spiked after the government announced that the taxes would increase as farmers tried to get ahead of the increase. Argentina's exporters recorded sales in June of 6.1 million tons of soybeans and their derivatives, 22 percent above the five-year average of 5 million tons according to the Rosario Grain Exchange. Reuters reported on Thursday that due to the tax increase, soybean sales in Argentina doubled from the previous year in the first 18 days of June.

With the new taxes in place, farmer selling is expected to slow once again with a potential impact on exports of soybeans, soybean meal, and soybean oil.