Milei announces reduction in withholdings for grains, meat, and agricultural byproducts

Just after 10:30 a.m., Javier Milei entered the La Rural grounds in Palermo to participate in the opening ceremony of the 137th Exposition. Expectations were high, and he did not disappoint: he announced a significant and permanent reduction in agricultural taxes.

The president explained from the podium that, starting this Saturday, the export rates for beef and poultry will drop from 6.75% to 5%. Also, the export taxes on corn and sorghum will be reduced from 12% to 9.5%; on sunflowers from 7% and 5% to 5.5% and 4% respectively; and on soybeans from 33% to 26%, including their derivatives, which will drop from 31% to 24.5%.

Milei emphasized that these measures represent a 20% overall reduction in taxes on grain and a 26% reduction in taxes on livestock. He stated that this reduction "will be permanent" while he is in office and seeks to "boost the agricultural sector, the country's most productive sector."

The president arrived accompanied by his sister, Karina Milei, Secretary of the Presidency, and the Minister of Economy, Luis Caputo. They toured the central track in a 4x4, waving to a crowd that enthusiastically applauded them. Patricia Bullrich and Guillermo Francos were also present. Vice President Villarruel's absence was notable.

From the audience, a man shouted to Milei: "Thank you for lowering inflation, President!" To which he replied: "There's still more to do. You'll see when we get it down to zero by the middle of next year."

In her speech, Milei highlighted the value of Argentine livestock genetics and celebrated the fact that the export record will be surpassed in 2024, reaching more than 900,000 tons of beef. "This hasn't happened more than a hundred years ago," she said.

He also referred to the fiscal surplus as the basis for these decisions: "All of this is possible because we achieved fiscal balance. We take care of it like water in the desert," he stated.

Without naming her, he made innuendos to Villarruel and questioned “the sentimental tribune financed by other people's pockets” and those who “do not renounce their privileged pensions.”

Before his speech, Nicolás Pino, president of the Argentine Rural Society (SRA), had called for better conditions for agriculture. He emphasized that "we produce food, we generate jobs, and we establish roots," and asked that "we be allowed to work without any obstacles other than the weather."

Pino also highlighted the importance of institutions such as INTA and SENASA, calling for their technical strengthening and independence from political interests.

In line with executive policy, he called for "the definitive elimination of withholding taxes," arguing that "with adequate conditions, we could produce twice as much."

In closing, Milei spoke directly to the sector: "You have a president who values ​​agriculture. This reduction in withholding taxes is just a sign. We will continue along this path."