Market News & Headlines >> Argentine Farmers Protest Export Caps and Taxes

Argentine grain farmers and cattle ranchers protested on Friday in the town of San Nicolas in Buenos Aires province to voice complaints about export taxes and limits placed on beef shipments that critics say are bad for investment in the farm sector, Reuters News Service reports.

Reuters says thousands of farmers showed up in tractors and trucks and bearing Argentina's pale blue and white flags, for the roadside demonstration, which was organized by the rural associations of Buenos Aires and La Pampa, or CARBAP, to coincide with Argentina's Independence Day holiday.

"The rally is being held to raise the voice of citizens and farmers in favor of policies that support production and to call for an end to state intervention in the market," CARBAP said. Nicolas Pino, president of the Argentine Rural Society, said a lack of engagement with the powerful sector would harm all Argentines. "Dialogue is the only way that we are going to get the country to move forward," said Pino.

The government did not respond to a Reuters request for comment.

In June, the government placed a 30-day ban on meat exports and has flirted with increasing export taxes or limiting exports of wheat and corn. While the ban on all beef exports has since expired, the government has capped exports of some beef cuts through the end of 2021 as part of its efforts to bring domestic food prices under control.