Milei at Rural Exhibition: Farmers await announcements on export taxes

President Javier Milei will headline the 138th Rural Exhibition's opening ceremony on Sunday at the Palermo grounds of the Argentine Rural Society (SRA). He is scheduled to deliver a speech to producers and sector leaders, amidst strong anticipation for possible reductions in export taxes, known as "retenciones."

While Economy Minister Luis Caputo has stated that "no specific announcement will be made," speculation about a gradual reduction in taxes on steer beef exports has intensified. Sources within the Casa Rosada indicated that Milei's address will be "very aligned with the field" and include gestures toward SRA President Nicolás Pino, who is seeking re-election.

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There will be no specific announcement.

The event, which opens its doors at 9 a.m. with the main ceremony starting at 11 a.m., will feature the traditional parade of champions and agricultural machinery. The schedule has been adjusted, with the inauguration now taking place on a Sunday instead of the usual Saturday, a change attributed to an official request.

Details of the presidential address remain confidential. Beyond the potential reduction in beef export taxes, which currently stand at 5%, Milei might outline key measures implemented during his administration for the agricultural sector and preview future legislative steps. Caputo, however, has attempted to temper expectations, reiterating that previous announcements regarding tax reductions for wheat and barley were made two months prior.

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The President will deliver a speech 'very aligned with the field' and with nods to Pino, who is seeking re-election.