The Rising Influence of Rising Affluence

[DewDiligence]

(MON/DD)—Crop-export taxes in Argentina likely to end:

http://www.bloomberg.com/news/articles/2015-11-19/monsanto-eyes-opportunity-in-argentina-ahead-of-election-runoff

Monsanto Co. executives said they’re hopeful that Sunday’s presidential election vote in Argentina will lead to an overhaul of agricultural policies that have been blamed for a slump in production and exports from one of the biggest producers of corn and soybeans.

Mauricio Macri, the opposition candidate and the frontrunner in voter surveys, has pledged for months to end export taxes of 23% on corn and 35% on soybeans. His rival in the runoff, Daniel Scioli…said in October he’ll do the same.

Such a change would almost certainly be welcomed by most if not all the farmers who have protested for years over the taxes, hoarding production rather than pay up.

Argentina ranks #3 worldwide in soybean production (behind US and Brazil) and #4 worldwide in corn production. MON derives approximately 6% of its global sales from Argentina.