Paraguay Soy Crushers Plead for Duty-Free Imports to Stay Open
- Regional drought curbs local supplies for meal, oil exporters
- Trade group wants soy imports for first time to avoid closures
A John Deere Co. 1175 hydro combine harvests soybeans on a farm in Santa Rita, Paraguay, on Friday, March 9, 2012.
Photographer: Noah Friedman-Rudovsky/Bloomberg
Paraguay’s oilseed processors are lobbying the government to allow duty-free soybean imports for the first time in order to keep their mills running as a drought slashes local production.
Industry group Cappro, whose members include Archer-Daniels-Midland Co. and Cargill Inc., proposed in January to waive import duties on soy for processing in Paraguay, which would make it economically viable to buy from other South American producers such as Argentina and Brazil. The government and Cappro are scheduled to discuss the matter on Tuesday, according to the group’s general manager, Sandra Noguera. Deputy Industry Minister Ramiro Samaniego said a decision hasn’t been made yet.