The Argentine Ministry of Economy's State Secretariat for the Bioeconomy reported on July 1 that the Argentine government has extended the exemption from withholding tax on dairy exports until June 30, 2025, according to Decree 557/2024 published in the Official Gazette, with a view to encouraging investment, upgrading production capacity, improving processes and introducing new technologies.

According to the data, from January to May 2024, dairy products were sold to 75 countries and regions around the world, with a 7% year-on-year increase in export volume and an export value of $559 million.