Argentina’s gov. to use tax, tech as it bids to grow 200m mt by 2030 В
ArgentinaвЂ™s plan to push grains production past 200 million mt over the next decade will look at tax incentives, reclaiming land...
Argentina’s plan to push grains production past 200 million mt over the next decade will look at tax incentives, reclaiming land and boosting yields as measures to meet its target, a ministry spokesperson told Agricensus Monday.
Initial work will focus on technical aspects and identifying specific policies in partnership with the private sector to help deliver the increase in grains production, the spokesperson said.
The spokesperson also said that the main crops in terms of planted area - corn, soybean and wheat - appear to have opportunities to further increase their average yields.
The national government published a resolution explaining the initiative in the Official Gazette on October 14, stating that the country’s agricultural sector has the capacity to expand grain production by approximately 60 million mt within the next decade.
Under this initiative, the government also aims to recover between 500,000 ha and 1 million ha in certain regions, with the use of technology and expects increased production to generate additional revenues of up to $57 billion from exports within the next 5-10 years.
Argentina’s 2020/21 total grains production is expected to reach 120.8 million mt, down 6.1% compared with the previous cycle, according to a recent study by the Buenos Aires Grains Exchange (BAGE).