The President is threatening to raise taxes on farm exports in Argentina

The President is threatening to raise taxes on farm exports in Argentina

Alberto Fernandez

Photographer: Alejandro Cegarra / Bloomberg

Argentine President Alberto Fernandez, one of the world’s powerhouse food suppliers, threatens farmers with a tax or quota increase for exports as he seeks relief for struggling families in inflation expected to reach 47% this year.

If the farming industry continues to sell food at home for the same prices at which it exports, the government will take matters into its own hands, Fernandez said newspaper Pagina | 12, giving a cow as an example. Overseas sales of Argentina’s famous red meat are on record, encouraged by China, while domestic consumption crouching.

“If they don’t hear me, I’ll be asked to solve the problem myself, and they can’t say they haven’t been warned,” Fernandez said.

Global crop prices and a steady decline in Argentine peso mean farmers are receiving large sums for export, but Fernandez said he will not get up the same bug locally.

Argentina’s No. 3 corn supplier wants to protect domestic prices from a global rally

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As soon as it became clear that Fernandez ‘s leftist party, which has a penchant for market intervention, was going to take office 14 months ago, Argentine farmers food immunity was feared.

Crop Rally – and maybe friendly Russia moved to a tax on grain exports – it forced the government to take action several weeks ago. It banned the transport of corn, used as food by livestock producers, but was later returned due to farmer support. by wanting to find a way to decouple international and domestic prices.

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