Soya planting has contracted in Argentina, the world's third-largest soyabean exporter, since President Mauricio Macri lifted export restrictions on wheat and corn soon after taking office in late 2015. The policy shift lead to an increase in crop rotation after years of over-planting soya. But the shrinkage in soya planting area is expected to stop in 2018/19, as the government plans to reduce the 30 percent tax imposed on the export of raw soyabeans.
Starting in January, the administration of President Mauricio Macri has promised it will start cutting the tax by a half percentage point every month for two years. Argentina started planting its 2017/18 crop in October, with harvesting expected between March and June.