Argentina withdraws withholdings for three months from the dairy sector in exchange for a price freeze.

The Minister of Economy, Sergio Massa, announced the suspension of withholdings on dairy exports for 90 days, as a response to the crisis the sector is going through. The measure, which represents a revenue loss of Ch$7,200 million for the State, is in addition to the 20% increase in the quota of the Impulso Tambero program. In exchange, Massa asked the businessmen of the item to freeze prices on the gondolas for three months and maintain the profitability of dairy farmers. The measure seeks to alleviate the crisis that the dairy sector is going through, as a result of the drought and the fall in international prices. The suspension of withholding taxes represents a loss of income of $7,200 million for the State. In exchange for the measure, Massa asked businessmen to freeze prices on the gondolas and maintain the profitability of dairy farmers. The measure could help improve dairy farmers' profitability and reactivate production, which in August 2023 was 0.4% below last year's levels.