A recession and run on their peso is making the staple protein much more expensive
Times are hard in recession-hit Argentina and the peso currency’s latest crash has jolted food prices higher. But in a country where eating beef is considered more a right than a luxury, people are stretching their budgets to keep buying steak while butcher shops see profit margins shrink. Social life revolves around weekend barbecues for […] Read more
Other wheat-growing regions are facing weather woes
Reuters – Argentine wheat farmers are preparing for a record harvest, even as global rivals see crop yield prospects cut amid floods in the United States, searing heat in Europe and drought in Australia and parts of Canada. The grain bounty in the world’s No. 6 wheat exporter will boost the South American country in […] Read more
Grains behemoth Argentina is pushing farmers to produce more wheat by threatening to crack down on the fast-expanding barley sector, which growers are using as a hedge against export curbs, sources with direct knowledge of the situation told Reuters. With national inflation seen by private economists at 30 per cent this year and global food […] Read more
Reuters / World grain prices should remain “very firm” over the near term as demand from Asia exceeds forecasts and dry weather cuts into supply, the senior economist of the UN’s Food and Agriculture Organization (FAO) said March 26. South American corn and soy yields took a beating from drought this season, while China’s rapidly […] Read more
Argentina’s new wheat export system promises to spur output from the grains-producing powerhouse at a time when farmers are hurting from dry weather and the government needs more foreign currency. The administration of recently re-elected President Cristina Fernandez will scrap incremental export quotas in a bid to improve prices for farmers by boosting competition among […] Read more
