Shares of Argentina’s Agriculture Firms Jump on Export Tax Cuts

Company shares tied to Argentina’s agricultural industry rose in Buenos Aires on Friday following the government’s move to slash taxes on major crops that provide billions of dollars in export revenue.

Cresud SACIF y A, one of the country’s largest producers of soy and corn, saw locally listed shares rise as much as 11%, it’s biggest intraday increase since December 2023 before clawing back most of its gains later in the session. Its American depositary receipts also traded higher.

The bullish market reaction follows President Javier Milei’s decision to cut key tariffs on exports of soy meal, ...