Grains sales in Argentina were at a standstill on Friday after media reports said the government would soon increase export taxes as it struggles to control its fiscal deficit.
The agriculture ministry suspended registration of grains exports, which prohibits grain exporters from making new deals. Local media reported the government was set to raise soyabean export taxes to 33% from the current 30% as soon as next week.
A government spokesman did not immediately respond to a request for comment.
Cash-strapped Argentina - in recession and on the cusp of a sovereign debt restructuring - is a major corn and soyabean supplier as well as the world top exporter of soyameal livestock feed. Prolonged uncertainty gripping the country's grains sector could put international shipments at risk.
"Buyers are not giving prices. There are practically no operations," said Guillermo Moulia, a trader at the Guardati Torti grain brokerage, located in Argentine grains hub Rosario.
Gustavo Idigoras, head of grain exporters and processors chamber CIARA-CEC, said a prolonged suspension could impact the country's agricultural shipments.
"It puts already confirmed contracts at risk, because there is usually a need to complete cargos by way of affidavits close to the times of shipments.
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