Argentine farmers: Milei victory an opportunity for 'radical change' for grains sector

Argentine farmers: Milei victory an opportunity for 'radical change' for grains sector

By Maximilian Heath

Javier Milei's election as Argentine president offers an opportunity for "radical change" in policy for the grains sector, the country's main rural associations said late on Sunday, offering to work "side by side" with the libertarian.

Argentina is one of the world's top exporters of soy, corn, wheat and beef. However, its grains and livestock producers have been asking for the elimination of taxes and caps that they blame for crimping grain and meat exports for years.

Milei, a far-right libertarian, is pledging to reduce the size of the state and cut taxes. He also wants to eventually close the central bank and dollarize the economy - more radical ideas that he may struggle to implement.

"A great opportunity has opened up to work together to make radical change to the current policies," the Argentine Rural Society (SRA) said in a statement.

The South American country is in a deep economic crisis with triple-digit inflation, an array of capital controls which hurt trade and a lack of foreign currency reserves.

CONINAGRO, another of the major agricultural associations in Argentina, said in a statement that "we are at the beginning of a new stage, which we hope will bring well-being to all Argentines," congratulating the president-elect.

Meanwhile, the Argentine Rural Confederations (CRA) called for Milei to work with the farm sector and demanded tax deregulation.