Argentina's Farms to Strike Next Week

source: Successful Farming

Due to a strike next week by farmers in protest of a government tax hike, Argentina will not be exporting soybeans, reportsSuccessful Farming.

After the good news that Argentina’s soybean output projection was raised by over 1 million metric tons last week due to good weather, Argentinian president Alberto Fernandez has demonstrated that the country’s farmers will have a long-lasting tax nightmare.

Fernandez confirmed on Sunday he would raise export taxes only on soybean exports, from a rate of 30% to 33%.

The hike was then discussed this week in a meeting between the president and the top farming association heads from the South American nation.

According to the four largest associations, the government pretended to have a discussion on the issue, but just informed the country the hike.