Argentina's government, via decree 464/2019, published in the Official Gazette, has lowered export duties from 4 to 3 pesos per dollar exported for 207 tariff positions of the regional economies. This decree annuls the additional withholding tax imposed last year and lowers it from 9.3% to 7%, according to the current exchange rate.
"The reduction of duties will take effect starting July 11, and seeks to promote the regional economies' fresh foods and products with different packaging and packaging processes sectors," the Secretary of Agribusiness added in a statement.
According to the Agricultural industry authorities, these "products have a high international demand that is increasing, especially fresh fruits, vegetables, nuts, and honey, which are linked to changes in the population's consumption habits."
They also stressed that this change "will impact relevant production sectors, such as the rice, fresh pip fruit, citrus and stone fruit, cherry, grape, dried plum, vegetables such as garlic, onion, or pumpkin, peanuts, plum for industry, blueberry, pecan nuts, legumes, pistachios, and honey sectors, among others, which are mostly represented by small and medium-sized intensive production companies that have a high impact on employment generation." According to official calculations, the export of these products amounted to 2.272 billion dollars in 2018.