President Javier Milei’s government has announced a temporary 0% export tax on grains and related products, effective until October 31 or until export declarations reach USD 7 billion, whichever comes first. This bold move seeks to accelerate the inflow of dollars into Argentina amidst recent currency volatility and pressure on Central Bank reserves.

The decision was crafted discreetly, outside of the usual political meetings and cabinet discussions. Government teams worked intensively over the weekend after a significant Central Bank intervention, preparing the decree for immediate implementation.

By removing export taxes on major crops such as soybeans, corn, wheat, barley, sorghum, and sunflower, Milei is encouraging exporters to liquidate their products now rather than delaying sales. This measure is also coupled with strict requirements: exporters must deliver most of their foreign-currency earnings within three business days of submitting export declarations, or risk losing access to the benefit.

Agricultural leaders responded positively. Nicolás Pino, President of the Rural Society, emphasized that retentions have long been considered unfair and damaging to production, investment, and competitiveness. While the measure does not yet cover meat exports, producers see this as a key opportunity to unlock sales that had been postponed.

Strategically, this policy reinforces Milei’s economic agenda by stabilizing the foreign exchange market, supporting Central Bank reserves, and signaling decisiveness to both domestic and international markets. Although temporary, the measure could reshape expectations and pave the way for deeper structural reforms.