Argentina Export of agricultural products Policy to raise taxes Concern about impact December 19 7:27
The Argentine government in South America, which has fallen into an economic crisis, has shown a policy to raise taxes applied to soybean and wheat exports in order to rebuild its finances, and there are concerns about the impact on international markets such as Japan.
Argentina in South America is in a serious situation, with the currency peso plummeting against the dollar after President Fernandez, who is left-sided and has a strong support for the poor, took office on the 10th of this month.
Under these circumstances, the new Argentine administration has shown a policy of raising the tax rate applicable to exports of soybeans and wheat, the main export products, by up to 6%.
Argentina is one of the world's leading producers of soybeans and wheat. In some international markets, the price of wheat is traded at the highest level in about a year, and there are concerns about the impact on Japan and other countries.
Argentina, which has fallen into an economic crisis, has agreed to receive up to 6 trillion yen in Japanese yen from the IMF = International Monetary Fund, but President Fernandez will repay the funds for relieving the poor. The policy has been extended, and criticism from the international community has been growing for possible disruption of the market.