The decree, which includes wheat, sunflower, corn, meat and fishing products among others, will be signed today. Soy exports rights will go to 30%.

President Mauricio Macri confirmed today the elimination of withholdings to all regional economies, including wheat, corn, sunflower and meats, and a 30% reduction in the export rights of soy.

At a ceremony held in Pergamino, Macri announced: “as soon as I land in Buenos Aires I will sign a zero withholding decree for regional economies”.

“I will do this because we trust you. We know we can double food production in Argentina,” he added.

However, the President also stated that the Government will be very strict with evasion control. “Taxes have to be paid because we will manage them well, there are no excuses,” he said in this sense. And added: “I will be ruthless in the application of the law to those who do not comply with it.”

In his speech, Macri talked directly to the producers: “ The day has come. I asked you to hang on because wherever I went people told me they were not having a good time”, he stated.

“We are together to start up a new phase for Argentina. We don’t have to set out things in terms of field work or industry, or field work or the country. It is field work and industry, and field work and the country”, he underlined, to then make emphasis on that “without field work, the country can’t grow”.

He also repeated one of the premises of his campaign: “We have to achieve an Argentina with zero poverty. That’s where you have to put your effort”.

In this sense, he said that “the structural way to put an end to poverty is generating work”, and then warned that “all these years we have jeopardized work positions”.

“The challenge is to grow in order to generate opportunities”, he added.

In this line he said we have to bet on “the possibility of growing, of doubling production”.

Among the duties of the State he referred to “building the infrastructure the country is lacking. This country can’t continue growing without waterways and roads”

“Works will timely be finished and the pertinent cost will be paid”, he promised.

As regards the agricultural vision, he said that “we have to stop being the world’s barn in order to become the world’s supermarket”.

Expectations

For his part, the Ministry of Agro-industry, Ricardo Buryaile, stated that the new scheme of export rights foresees “30% for soy and the rest of the production, including fishing goes to 0”.

At the same time, María Eugenia Vidal, governor of Buenos Aires, stated: “We are betting on doubling the production of wheat and corn, and the Buenos Aires province’s field workers are very happy”. 

“The field will earn more, and part of the money given up from withholdings will be recovered with more income taxes”, she said.