As it was made aware to “ProAgro”, federal government of Brazil is planning to introduce a differentiated tax on export of soybean and its processed products. As it is has been reported by OilWorld, authoritative research agency in Germany.

Experts of the Agency believe that the given news is of great economic and political importance, as it can significantly affect the structure of the South American country's exports. In case if the fiscal innovation will be adopted, the profitability of exports of soybeans may drop significantly, while soybean oil, meal and other products - increase. Accordingly, exports of soybeans from Brazil may be reduced, while processed products - increase.

Such a turn of events, of course, is welcomed by Brazilian processors; agrarians, however, are very unhappy by them.
Among importers the reform will affect China the most, which in 2012 imported 22.9 million tons of Brazilian soybeans. Overall, the decline of soybeans exports from Brazil and increase of its value can help strengthen world price of soybeans.