The President of the Nation, Javier Milei, announced this Thursday (21.05.2026) the reduction of export duties for wheat and barley, along with a gradual reduction scheme for soybeans starting in 2027.
The announcement was made during the ceremony commemorating the 172nd anniversary of the Buenos Aires Grain Exchange, an institution founded in 1854 and considered the oldest in the country.
In that context, the president specified that export taxes on wheat and barley will be reduced from 7,5% to 5,5% starting in June 2026.
Regarding soybeans, the president stated that, “depending on tax revenue,” a reduction in export duties will be applied “between a quarter of a point and half a point per month continuously, until 2028, if his government is re-elected in the presidential elections of October 2027.”
The president noted that the reduction of export duties is a permanent demand of the Argentine agricultural sector, one of the world's leading producers and exporters of grains and derivatives.
He also highlighted that these taxes have a significant impact on tax revenue, which fell in real terms in April, posing a challenge to the goal of maintaining a public accounts surplus.
In that context, he stated: “I’m not just going to be lowering withholdings on agricultural sector. We're also going to lower them for the industry From July 2026 to June 2027: the automotive industry, the petrochemical industry, and machinery. We're going to zero,” and he noted that the measure will be announced by the Ministry of Economy in the coming days.
Likewise, the Secretariat of Agriculture, Livestock and Fisheries of the Ministry of Economy reported that the The 2025/2026 campaign recorded a total production of 163.200.000 tons, which represents an increase in 21,25% YoY.
The main crops included:
- Corn: 70 million tons, the highest volume in the last two decades.
- Soybeans: 49,9 million tons, with a strong recovery in the oilseed complex.
- Wheat: 27,9 million tons, a historic record for the cereal.
- Sunflower: 7,4 million tons, a record high yield.
Announced scheme for reducing export duties
| Sector / Product | Start date | Size | Detail |
|---|---|---|---|
| Wheat and barley | June 2026 | Reduction of withholdings | From 7,5% to 5,5% |
| Soybean | January 2027 | Gradual reduction | Monthly decreases of 0,25 to 0,5 percentage points |
| Soybean | Until 2028 (conditional) | Continuity of the scheme | Subject to tax collection and policy continuity |
| Industry (automotive, petrochemical, machinery) | July 2026 | Progressive reduction | Phased plan until June 2027 |
Within this context, the agribusiness sector is experiencing a high production season, coinciding with changes in the export duty scheme is in the process of being formalized and further clarified, just a few days before the end of May.
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