Argentina will exempt an import tax on goods that are used in the production of exports, such as soybeans and machinery to develop unconventional hydrocarbons in the Vaca Muerta shale play, Treasury Minister Nicolas Dujovne said in a radio interview on Friday.
Brazilian farmers were forecast to expand the country’s soybean planted area for the 12th consecutive year amid strong demand from Asia and in spite of risks related to the exchange rate and higher freight costs. Brazil is likely to expand the area to a record 36.28 million hectares this season, which farmers will start planting around September, a 3.2% expansion from the previous cycle based on government data.