Economy Minister Luis' Toto' Caputo announced Wednesday that the Argentine government will eliminate export duties on 88% of industrial products, affecting 4,411 items and benefiting 3,580 businesses (nearly 40% of exporters).
Argentina's business friendly president Mauricio Macri, announced on Monday large tax cuts on agricultural exports and emphasizing that the camp was essential to get Argentina back on its feet. Macri, who took office Thursday, had promised to slash the steep taxes on agricultural exports, which triggered major protests by producers against former president Cristina Fernandez administration.
Argentina’s 2013/14 soybean crop will be above 50 million tons while corn can be expected to reach 30 million tons, according to the country’s Agriculture minister Norberto Yauhar, based on preliminary production estimates. The minister also advanced that caps on wheat and corn exports could be lifted in the near future.