Argentina mulling grains export tax hike: gov’t official

BUENOS AIRES: Argentina is considering an increase in grains export taxes, an official told local radio on Friday, sparking concern among farm leaders who have long worried that the Peronist government might further intervene in the markets in a bid to control inflation.

The South American grains powerhouse is the world’s No. 3 corn supplier and top exporter of soymeal livestock feed. It already slaps a 33% tax on international soybean exports; 31% on soymeal and soyoil; and 12% on corn and wheat.

“An increase in export taxes is being analyzed,” Domestic Commerce Secretary Paula Espanol said in a radio interview. “It would not raise my pulse to take measures that are needed to keep prices down.”