Argentine farmers end strike

Farmers do not rule out fresh strike action in the future to fight soy tax.

    Farmers are trying to get MPs to back an opposition bill to lower the soy levy [AFP]

    In an interview with Reuters news agency, Buzzi said farmers see the June 28 Congressional vote to renew half the lower house and a third of the Senate as a chance to build political support to reform the soy export taxes.

    Firm on demands

    Farmers are trying to get MPs to back an opposition bill to lower the soy levy, but the ruling party's congressional majority has allowed government allies to block the proposal.

    "We will insist in Congress for the export tax system to be modified," Hugo Biolcati, president of the Argentine Rural Society, said after Friday's meeting.

    US soybean futures fell sharply on Friday, with the end of the strike in Argentina contributing to the losses.

    Argentina is the world's No. 3 soybean exporter, after the United States and Brazil, and it is the leading supplier of soyoil and soymeal.

    This year's harvest began in recent weeks and output is set to fall from last year's 46.2 million tonnes due to a harsh drought that has battered wheat and corn crops.

    SOURCE: Agencies


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