Grainnet

Argentian—Post lowers its overall wheat production forecast to 9.5 million metric tons (MT) in 2008/09 due to dry conditions that severely impacted yields.

Wheat exports are expected to fall to 4.2 million tons as a result of the lower production.

Post lowers its corn production forecast to 16.5 million MT for 2008/09 due to drought conditions that severely impacted yields.

Post lowers the 2008/09 export forecast to 9 million MT to compensate for lower expected production.

A plan to reduce the export tax on wheat and corn by five percentage points was published in Argentina's "Boletín Oficial" on December 22, (Joint Resolution 26/2008 and 28/2008) -- for wheat, the new export tax is 23 percent; and for corn the new export tax is 20 percent.

The GOA also published a plan to stimulate wheat and corn production, called "Plus-Programs."

The programs stipulate that when historical production averages are exceeded -- 13 million tons for wheat and 15 million tons for corn -- export taxes will decrease by one percentage point for large producers, two percentage points for medium-size producers, and five percentage points for small producers, per each additional million tons produced.

On December 30, 2008, the GOA published a measure to increase its control on agricultural exports (Resolution 8590/2008).

The measure is called the "Single International Sales Register" for all ROEs (export registrations).

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