Argentina may create a grain company of its own, says report

The Argentinian news portal Infobae says the government is considering whether to create a grain company of its own to compete with the multinational exporters – Cargill, ADM, Bunge and Dreyfus – who dominate farm exports, says AgroSouth News. The goal would be to see that farmers sell their grain for higher prices, says the report, which describes the new company as a trial balloon. Still, it would collect an export tax of 5-10 percent on its transactions while the rate for the multinationals would remain at 35 percent. The government clashed repeatedly with the big grain companies over the past couple of years.

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