This Saturday, President Javier Milei will give a highly anticipated speech at the Palermo Rural Exposition, where there is speculation he could make key announcements for the agricultural sector, especially related to the reduction or elimination of tax withholdings.
Expectations have grown in recent hours among producers, who are hoping for measures to ease tax burdens, particularly on meat exports.
Presidential spokesman Manuel Adorni anticipated that the president's speech "will surely be on the front page of every media outlet." Regarding the tax withholdings, Adorni asserted that"it is one of the national government's major upcoming objectives," further fueling expectations within the agricultural sector.
After a meeting with the members of the Liaison Committee, Economy Minister Luis Caputo emphasized that, although he did not announce any measures, the government remains committed to the agricultural sector."They see the efforts the government has made; it's a sector for which we have taken many measures that have benefited them," the minister commented.
For his part, Carlos Castagnani, president of the Argentine Rural Confederation (CRA), stated:"One never loses hope that this is a favorable environment for some kind of announcement from the president." In a radio interview, the ruralist affirmed that"withholdings have always harmed the sector, but now more than ever, because there are places, zones, and regions where they are left with zero or even ruined profitability."
Possible elimination of meat withholdings
One of the most anticipated measures is the elimination of export taxes on beef, a key sector for the country. Meat industry sources confirmed that they expect the elimination of export taxes on steers, which are currently taxed at a rate of 6.75%. This measure could benefit a market that generated US$2.9 billion in exports in 2024.
Furthermore, the agricultural sector is awaiting announcements on grain sales, especially following the temporary reduction in soybean and corn taxes, which was in effect until June 30 and accelerated sales of these products.
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