Just after 10:30 AM, the president Javier Milei entered the Palermo Rural property to star in the official opening ceremony of the 137th Rural Exhibition amidst great expectations concerning potential announcements regarding the agricultural sector. Accompanying him were his sister, the general secretary of the Presidency, Karina Milei, and the Minister of Economy, Luis “Toto” Caputo. The trio rode in a 4×4 truck along the central track, garnering applause from all four stands. Awaiting them in El Palco were prominent figures such as Nicolás Pino, the president of the Argentine Rural Society (MRS), and several ministers, including Guillermo Francos, Patricia Bullrich, and Luis Petri, to name a few. However, the absence of Vice President Victoria Villarruel was notably significant.
The National Executive’s involvement in the exhibition intensifies the ongoing debate regarding the crucial Export Tax Elimination of agricultural products. The future of withholdings—a longstanding source of friction between the agricultural sector and the government—will likely dominate discussions stemming from the Head of State’s speech. Last week, Milei met with the Link table to underscore that the withholdings are “in the sight” of the Executive power.
During the opening address, Pino remarked, “A year ago, in this same location, Mr. President reminded us of what is inscribed above this tribune: Cultivating the soil is to serve the country. Upholding that motto, the Argentine Rural Society will always be part of the solution and will never be part of the problem.”
He emphasized, “We produce food, we create jobs, and we sustainably add value to raw materials. We understand our responsibilities and take pride in this work. All we ask is to be allowed to proceed without adversities beyond those posed by nature, which alone is accountable for compensating them.” Before entering the rural exhibition, the head of ministers, Guillermo Francos, mentioned that “The president may surprise us” regarding today’s announcements about the decline in retentions—indicating a significant shift in policy.
Pino seemed to support the Chief of Cabinet’s sentiment. He brought to mind Pasoke Francis, who once said the famous phrase: ‘No one is saved alone’. We recall his poignant words with emotion and a communal commitment to preserve responsible work in the field.
“Rural society seeks to facilitate all areas of producer development,” he insisted, expressing a strong interest in “achieving the common good for the entire nation, of which the producers are an integral part.”
He further asserted, “We want to maintain a productive dialogue with the government concerning alliances. However, the agricultural sector is not a party ally; it is exclusively an ally of Argentina.” Pino stated, “If we had the right conditions, We could produce more than double what we currently yield because “the world demands what we produce, and we know how to do it.”
He also pushed for the need to collaborate with the nation, provincial governments, and municipalities. He argued, “The function of the State at any level should not be to replace or restrict our private activities. Instead, they must create conditions that allow us to compete with nations currently outperforming us.”
He then posed a rhetorical question and answered it: “What conditions do we ask for? To continue reducing the tax burden to unleash our productive potential. This primarily includes eliminating withholdings—a crucial topic that I will revisit shortly.”
“If suitable conditions are established for the agricultural sector, we will see a significant increase in both the supply of goods and employment, thereby not only combating hunger but also paving the way for a brighter future. Thus, let’s refrain from discussing poverty purely for demagogic ends. Enough of superficial policies that fail to address the root causes of poverty. Enough of cheap lies. If we produce more and create more jobs, we can reduce poverty,” declared the president of the MRS.
In the days leading up to this event, rumors circulated regarding the Central Bank potentially enabling structures for Bopreal titles in dollars, aimed at agricultural producers who have endured years of paying withholdings. The recent temporary reduction of retentions for soybeans and corn, which was in effect from late January to the end of June, had fueled hopes for a possible extension.
Nevertheless, the Government opted to restore the rates to 33% for soybeans and 12% for corn, while a reduced scheme for wheat and barley will remain in place until March 2026. This decision rekindled producers’ claims regarding the fiscal pressures posed by these taxes, which they view as significant roadblocks to sector growth.
Meanwhile, the Rosario trade stock market projected that the contribution of agriculture to the economy will reach USD 32,070 million by 2025, slightly exceeding 2024’s figures, thanks to an increase in exported volumes that will counteract the fall in international prices. According to the entity’s report, USD 18.1 billion were recorded during the first half of the year, accounting for 56% of the projected total, a figure surpassing the average of the initial semesters over the last 15 years.
The Head of State will be accompanied by the Secretary General of the Presidency, Karina Milei, and the Minister of Economy, Luis Caputo, along with the head of the Buenos Aires government, Jorge Macri. Although the vice president, Victoria Villarruel, is expected to attend, her formal presence has not been confirmed.
Official sources clarified that the invitations were sent as per their usual protocols. However, this year’s timing is distinct, as Milei has recently been critical of the vice president, particularly during his remarks at the Buenos Aires Stock Exchange on July 10 and again on July 22 at the Right Fest, a libertarian event held in Córdoba.
“The first law of politics is to ignore the first law of economics… and this knowledge is well-known among populists. If not, how do you explain the spending of 17 billion dollars? And The traitor brutes suggested I would finance it with 30 million… I advise them—before throwing jabs—to learn to add, to figure out the basics,” stated the president, without directly naming Villarruel.
The ceremony will commence with the entry of the GRANADEROS REGIADOS on Horse General San Martín, followed by the president arriving at the Plaza Italia property. Subsequently, the stanzas of the Argentine National Anthem will be sung before Pino delivers his address. After the speeches, attendees can expect the traditional parade featuring prominent champions and the exhibition of agricultural machinery.
Organizers have confirmed the participation of The entire Cabinet of Ministers, governors, legislators, members of the Judicial Branch, and the diplomatic corps.
Pino will kick off the proceedings with an exhaustive speech reviewing the commitments made by the Head of State regarding Export Tax Elimination affecting agricultural products. He will also take a moment to praise various sectors of production—ranging from agriculture and livestock to regional economies—and will address the recent reforms of the National Institute of Agricultural Technology (INTA), insisting that the organization must continue to provide essential knowledge and effective management for the industry.