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Argentina Cuts Grain Export Taxes


In a boost for the country's grain exporters, the new Argentine president Mauricio Macri has announced the country's export taxes on wheat and corn, currently 23% and 20%, will be removed, with media reports suggesting an announcement on the ending of export quotas for the two grains is also imminent. However, soyabeans and soya meal will still be heavily taxed with the export taxes for the two commodities to be cut by only 5 percentage points to 30% and 27%, respectively.