Argentina freezes soy export tariffs to keep feedstock from flowing into China

In Argentina, exporters have been shipping raw, unprocessed soybeans to China en masse, a move the government has put a stop to last week by freezing export taxes on beans at 26% as well as freezing taxes on meal and oil at 23%. Taxes on beans were being wound down to 23% in line with meal and oil by February 2019 but the new policy is meant to keep feedstock for biofuels and animal feed at home instead of shipping them unprocessed to China. So traders couldn’t suddenly boost massive exports ahead of the new policy coming into place, exports were frozen until August 16.