Argentina Set to Hit Farmers With More Taxes on Budget Woes (1)

Many of Argentina’s farmers are still reeling from a tax increase on crop exports that hit them late last year. Now, the government is set to deliver another duty blow as it taps the nation’s growing agriculture industry to try and deal with budget woes.

The South American country plans to raise export levies on soybeans to 33% from 30% now as it seeks to bridge its fiscal deficit, according to people familiar with the matter, who asked not to be identified because the information isn’t public. It has already suspended its export registration system, a move traders said signal ...