Argentina's Grain Export Surge: $1.88 Billion in March Revenue

Argentina's farm sector saw a 20% year-over-year increase in revenue from grain exports for March, amounting to $1.88 billion. The rise follows a government reduction in export taxes. The first quarter saw a 26% increase to $6.135 billion, though March revenues fell 15% compared to February.

In an impressive economic feat, Argentina's agriculture sector reported a significant boost in grain export revenues for March, totaling $1.88 billion. This marks a 20% increase from the same period last year, as per the CIARA-CEC chamber of oilseed and grain crushers and exporters.

This rise can be attributed to the libertarian government under Javier Milei, which began reducing export taxes in January. The first-quarter revenues surged to $6.135 billion, registering a 26% increase over last year's figures, according to CIARA-CEC's report.

CIARA-CEC noted that March's inflow was a product of reduced export taxes, stipulated under Decree 38/25. However, March exports fell by 15% from February, amid reduced market fluidity. Critical players like soybeans, soybean oil, meal, corn, and wheat had temporary tax reductions extended to June, to encourage local sales.

(With inputs from agencies.)