The norm, in detail
Agricultural export duties: a downward path to 2028
Decreto 423/2026
in forceNATIONAL
Energy and natural resources
Decreto 423/2026 cuts wheat and barley to 5.5%, ends the biodiesel levy and sets soy's path: 24% now, 21% in Dec 2027 and 15% in Dec 2028.
The other rules on this subject43
The State reorders the trunk gas pipelines and forces firm transportation contracts to be redrawnRes. SE 66/2026 (Official Gazette, Mar 13, 2026) + Res. ENARGAS 409/2026in execution
Hydrocarbons: the pre-export local offer fallsSE Res. 166/2026 (Official Gazette, Jul 22, 2026)in force
What changed and who it applies to
What changed
Decreto 423/2026: immediate cut for wheat and barley to 5.5% (from 7.5%); a gradual schedule to 2028 for soy (24% in 2026 → 21% Dec-2027 → 15% Dec-2028), corn and sorghum (8.5% → 7.5% → 5.5%) and soy derivatives; it eliminates the export duties on biodiesel. verif Jun 3, 2026 ↗
In force
Wheat and barley: immediate (Jun-2026). Soy, corn, sorghum and derivatives: a phased schedule to December 2028. verif Jun 3, 2026 ↗
Who it applies to
Agricultural producers and exporters (grains and derivatives) and the biodiesel industry. verif Jun 3, 2026 ↗
The norm
Decreto 423/2026, announced by president Milei and made official by the Executive (June 2026). verif Jun 3, 2026 ↗
Our reading
A direct improvement of the agricultural export margin with a permanent path to 2028: more profitable crops → more planting, investment and FX settlement (R5 · better export netback). What we watch: that the fiscal cost of the path does not erode the surplus anchor (R1 · lowers country risk) — the data that arbitrates it is the monthly fiscal result. thesis
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Where it lands, province by province3
Buenos Aires The country's largest agricultural province: the export-duty cut improves the margin on soy, wheat and corn → more investment in the campaign and inputs. favorable better export netback thesis
Cordoba Soy-corn core: a direct profitability improvement → more planting and demand for agri services (seeds, machinery, agrochemicals). favorable better export netback thesis
Santa Fe Added to the Greater Rosario agro-export complex (crushing/oils): the cut on soy derivatives boosts value-added and volume through the Waterway. favorable better export netback thesis
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Analysis and curation: Ignacio Aredez
Head of Despegue
Method and track record →- 20+ years in technology, 15 of them in data and AI, for clients across Europe and the Americas
- Certified in AI governance (ISO/IEC 42001)
- Machine Learning (Google Cloud)
- Registered expert with the European Commission
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verif primary source · prob primary source pending · unconf a source said it · estim our own calculation · thesis our reading · the date belongs to the datum, at the precision its source allows