Argentina to raise biodiesel export tax to 15% as of July 1

In Argentina, Reuters reports that the country’s export tax on soybean oil-based biodiesel will nearly double to 15% as of July 1 from the current 8% level. The move is in part to help boost tax receipts to compensate for the president’s elimination of export taxes on corn and wheat shortly after taking office in December 2015 while also working to narrow the gap between taxes on soybean and soy oil exports, currently 27% and 25% respectively, and taxes on biodiesel exports.