Argentine farmers are set to embark on another series of protests against the current agricultural export tax regime.
The farmers feel that the government has not gone far enough to help them out of their current slump. A combination of unsold produce from last year’s harvest, high export taxes and a drought have put severe pressure on the agricultural industry.
The government implemented a new export tax regime early in 2008, replacing a fixed tax of 35% with a sliding tax linked to world commodity prices. However, this resulted in the tax rising to around 44% when world grain prices soared after its introduction, fuelling a round of angry protests by farmers.
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