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Argentina withdraws large agchem company subsidies

Argentina withdrew all subsidies on electricity, water and gas use to “large” agrochemical companies following the re-election of President Cristina Kirchner late last year. The Minister of the Economy, Amado Boudou, said the move was among several “subsidy removals from large companies and high-income households” to reduce the government’s deficit. The government anticipates savings of Peso 758 million ($174 million at the current rate) from the removal of subsidies to pesticide companies, which took effect in December.

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