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Argentina Farm-Export Dollar Inflows Plunge 84% in October After September Tax Holiday

A brief suspension of export duties under Decree 682/2025 pulled sales into September, leaving a sharp drop in October receipts.

Overview

  • Exporters reported US$1.116–1.117 billion liquidated in October, down 84% from September and 56% year over year, according to Ciara-CEC.
  • September inflows jumped to US$7.107 billion after a three-day suspension of export duties with a US$7 billion cap, which was reached within 72 hours.
  • January–October liquidations totaled US$29.564 billion, surpassing full-year 2023 and 2024 and running about 40% above the same period last year.
  • The Rosario Board of Trade estimates roughly US$3.9 billion in sector inflows for October–December and tallies more than US$32.15 billion contributed year-to-date across official and financial markets.
  • The temporary measures, following earlier duty reductions under Decree 38/2025, have stoked criticism that large traders benefited more than smaller producers in a sector that accounted for about 45% of exports in 2024.