President Javier Milei's announcement of the reduction of export taxes on meat and grains during the rural exhibition in Palermo was celebrated by the countryside.

The president, who arrived at the Rural Fair's main arena in the back of a pickup truck and waved to the stands alongside his sister Karina and Economy Minister Luis Caputo, announced that the tax cuts will be"starting today" at 20% for grains and 26% for meat, according to what he said in his opening speech at the Rural Fair. He also warned:"This will be permanent, and there will be no turning back as long as I am in office."

Moments after the announcement, while Milei continued speaking in Palermo, the Grain Exchange celebrated the measure and considered that" it is a sign in the right direction".

"The Grain Exchange welcomes the government's announcement of the reduction in the DEX. The President keeps his word and takes a step in the right direction to improve the competitiveness of the agricultural sector. Challenges remain, but it's a sign in the right direction," the entity emphasized.

🆕 The @bolsadecereales welcomes the government's announcement of the reduction in DEX prices. The President keeps his word and is taking a step in the right direction to improve the competitiveness of the agricultural sector. Challenges remain, but it's a sign in the right direction.

— Bolsa de Cereales (@Bolsadecereales) July 26, 2025

Similarly, the Argentine Agroindustrial Council assessed that the measures"will have positive effects on expanding the production and export of meat and the oilseed grain complex."

The Rosario Stock Exchange also expressed its support for the announcement, considering the measures to be"a positive step towards a more competitive and rational tax system, in line with the demands made by various stakeholders in the sector."

"The Stock Exchange particularly highlights the ratification of the permanent nature of the reduction in livestock and meat prices, which sends a clear message to one of the sectors most affected by tax pressure in recent decades," said the entity's president, Miguel Simioni.

The reduction of the DEX is a measure that will have positive effects on expanding the production and export of meat and the oilseed cereal complex

— Argentine Agroindustrial Council (@AgroindArg) July 26, 2025

Along the same lines, he added:" These types of announcements mark an encouraging direction. Reducing the tax burden on agriculture not only improves competitiveness, but also boosts the entire regional economy, creates jobs, and boosts exports."

The governor of Santa Fe, Maximiliano Pullaro, stated that"the claim of the productive interior of this Argentine Republic was heard. As Governor of a province where the countryside and agroindustry are part of our founding identity, I want to highlight the reduction of withholdings that President Milei ordered today, hoping that this is the beginning of the path towards their total elimination. In the Invincible Province of Santa Fe, capital of this thriving interior, we have an unwavering commitment. 𝐀𝐜𝐚́ 𝐞𝐥𝐥𝐲 𝐜𝐚𝐦𝐩𝐞 𝐩𝐚𝐠𝐚𝐭 𝟎𝐞 𝐈𝐧𝐠𝐫𝐞𝐬𝐬"𝐁𝐫𝐮𝐭𝐨𝐬".

Coninagro also highlighted the announcement, but that entity was more measured and limited itself to stating its desire for the measures"to be the right path to definitively eliminating export duties."

#NOW | The President of the Nation @JMilei, announces the reduction of #retentions. We hope that these measures are the right path to eliminating #definitively export duties. From our entity, we will continue working for a future with more predictability and in…

— CONINAGRO (@CONINAGRO) July 26, 2025

Milei's long-awaited announcement came midway through his speech at the Palermo fairgrounds."Starting today, withholding taxes on poultry and beef will be reduced from 6.75% to 5%; withholding taxes on corn, from 12% to 9.5%; withholding taxes on sorghum, from 12% to 9.5%; withholding taxes on sunflowers, from 7% and 5% to 5.5% and 4%; and withholding taxes on soybeans, from 33% to 26%, and on soybean by-products, from 31% to 24.5%," Milei explained, to a standing ovation.

The reduction in soybean withholdings from 33% to 26% and from 12% to 9.5% for all grains will be permanent, and this will generate a favorable effect of increased production, which we fully support," said Gustavo Idigoras, president of CIARA-CEC.

The MAIZAR Association also welcomed the government's decision to move forward with reducing export duties."It's a policy that goes in the right direction to unleash the productive, industrial, export, and social potential of the entire corn and sorghum chain," they stated.

The organization has maintained since its founding that withholding taxes constitute a distorting tax, putting Argentina at a disadvantage compared to its international competitors."This situation has been exploited by other countries to gain market share and better position themselves in global chains," they stated.

MAIZAR emphasized that for too long, withholding taxes have acted as an obstacle to the sector's sustainable growth."They not only reduce competitiveness, but also discourage investment, limit local processing capacity, and reduce the income of genuine foreign currency that the country needs," they argued.

See also

President Javier Milei at the opening of the 137th Rural Expo: the best photos