23 Nov 2024

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China opens soymeal market to No. 1 exporter Argentina in 'historic' deal

China will allow the import of soymeal livestock feed from Argentina for the first time under a deal announced by Buenos Aires on Tuesday, an agreement that will link the world’s top exporter of the feed with the top global consumer.

The pact will be signed by Argentine and Chinese officials in Buenos Aires on Wednesday, Argentina’s agriculture ministry said in a statement. Last month Chinese officials inspected Argentine soymeal factories in the run-up to signing the pact.



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Argentina: tax cuts on soy meal and soy oil exports suspended six months

Argentina has suspended for six months its program of gradually cutting taxes on exports of soymeal and soyoil, the Treasury Ministry said in a statement on Tuesday, part of the government’s fiscal tightening program. International shipments of both soy products are currently taxed at 23%, lowered gradually from 32% in 2015, the statement said.

By the end of 2019, soymeal and soyoil export taxes will be at 18%, it said, compared with the 15% rate planned before the suspension.



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