Argentina's President-Elect Said to Consider Suspending Soybean Tax
- Presidential candidate seeks $8 billion in farmers' sales
- Final decision to be made after Dec. 10, two advisers say
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Argentina’s president-elect, Mauricio Macri, is considering a 90-day window of no export taxes on soybeans in a bid to spur sales from farmers stockpiling some $8 billion in oilseeds, two people with knowledge of the plan said.
Export taxes on soybeans are currently 35 percent. The revenue loss from suspending the tariff may be offset by an influx of dollars into Central Bank reserves, which on Friday finished at $25.8 billion, the lowest since 2006, the first person said, asking not to be identified as talks among Macri’s economic advisers are private.