Argentina's new government has hiked export levies on soy, wheat and corn, ...
BUENOS AIRES - Argentina’s new government has hiked export levies on soy, wheat and corn, according to an official decree on Saturday, hitting farmers in the grains exporting nation to raise revenue needed to avoid default on a mountain of looming sovereign debt.
“Given the serious situation that public finances are going through, urgent adoption is necessary to meet, at least in part, budget expenditures with new resources,” the decree said. Carlos Iannizzotto, head of farm group Coninagro, told Reuters the decree “was not a good start” for the Fernandez administration in its relationship with the agriculture sector.
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