The Argentine government has temporarily cut soybean export taxes to help stimulate trade.

Various media outlets report that Argentina is reducing soymeal and soy oil taxes by three percentage points to 30 percent as the country struggles with recession and shrinking foreign reserves.

Argentina’s economy minister says the tax cut will last until the end of the year and then be restored to 33 percent in January.

Argentina is the world’s largest supplier of soybean meal and a top U.S.

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