Source: US Department of Agriculture Foreign Agricultural Service
On November 2, 2020, Argentina authorized a payment scheme to compensate small and midsize farmers for a portion of their export taxes paid on soybeans. Payments are based upon sales recorded between February 1 and December 31, 2020 and smaller farms and farms located outside of the core growing region receive a more generous reimbursement rate. Due to economic uncertainty, Argentine farmers are currently sitting on record levels of soybean stocks. This measure is intended to incentivize selling for the next several months among smaller scale farmers, a sector targeted for assistance by the Fernandez government.