Argentine government slaps export duties on soy

In Argentina, the national government will place a tax on soybean and soy oil sales, in an attempt to contain soaring local prices. Previously, increased controls were placed on beef exports, in an attempt to control prices, but led primarily to the conversion of land to the (then) tax exempt soybeans. The government said that its sliding scale of export duties would bring price stability, while farmers complained that it would reduce fund for investment in technology and land.

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