The Argentine government is lowering beef export tax 25%, from 9% to 6,75% basically “to promote sales to foreign markets and improve the level of income of producers and processors, favoring the insertion of Argentina in international markets”, points out the decree published on Tuesday in the Official Gazette.
Market reports suggest that Argentine beef shipments to the European Union have reduced to almost zero amid the global coronavirus pandemic. Sales to China, the main buyer, have dropped below 2019 levels.