The glut comes the day after export taxes were temporarily cut to zero

Announced the week after the Central Bank was forced to sell over a billion dollars to defend the peso, the measure will last until October 31, five days after the national mid-terms

Argentine exporters believe there will be no reduction in export tax rates next year and warn: ‘Until the exchange rate stabilizes, there will be no sales’

The figure comes from a study conducted by the Rosario Stock Exchange (BCR), which also predicts production growth of 13 million tons

The figure represents a 57% increase compared to July 2024 and a 20% bump compared to June of this year

Key players in the agricultural ecosystem are facing a debt crisis, declining revenues and reduced access to credit

The decision comes less than a month after the administration had increased the tax on a plethora of products

Analysts say the reduced inflows could last through November unless export duties change again, squeezing the exchange rate further

The Argentine president will hold a bilateral meeting with the Indian prime minister in Casa Rosada on July 5