September 06, 2008

Argentina to increase duties on raw material export

YIEH reported that after rising custom duties on oil and agriculture export products, Argentina government has initiated a plan for raising custom duties on raw material products.

Argentina’s exportation has reached USD 250 million this year from USD 150 million in 2005. The great volume of raw material export has caused domestic metal supplies tight, and even making the cost of producing coinage higher.

Currently, Argentina exporter had to pay 10% custom duties on all the raw material.