Buenos Aires | Reuters — Argentine farmers started a five-day crop sales strike on Monday, part of an election-year push in the world’s No. 3 soybean exporter to change policies that they say have killed profits under outgoing President Cristina Fernandez. The country is the biggest international supplier of soybean livestock feed, which has helped
Farmers in soy powerhouse Argentina start five-day sales strike
Argentine soy stocks double as farmer-government tensions rise
Buenos Aires | Reuters –– Argentine farmers have stockpiled more than twice as much soy this year than last, defying a government desperate to increase export tax revenue needed to finance rising state spending ahead of the October presidential election. Growers say the increase in soybean reserves, to 7.4 million tonnes from 3.4 million, comes
Argentina tracks soy hoarding by registering silo bag sales
Buenos Aires | Reuters — Argentina will keep an eye on how much soy is being hoarded on farms throughout the country by requiring that the sales of silo bags be reported to tax authorities, according to a government resolution announced Monday. The oblong industrial-strength plastic bags have come to dot the Pampas grains belt
Argentina’s ‘Soy King’ abdicates in favor of biotech
Buenos Aires | Reuters –– The company that led the breakneck expansion of Argentine soy cultivation over the last two decades has quietly reduced the area it farms by more than half as inflation, trade restrictions and high taxes drain growers’ profits. Los Grobo, once known as the South American country’s “King of Soy” has
Argentina denounces farmer soy hoarding, says hurts state income
Buenos Aires | Reuters — Argentine growers hoarding soybeans to protect themselves from inflation are hurting both state and farm income in the world’s No. 3 exporter of the oilseed, a top government official said Thursday. The South American country pioneered the use of plastic horizontal silos to stockpile grains. Growers are hanging onto soybeans,
Argentine state bank to cut off farmers who hoard soy
Buenos Aires | Reuters — Argentina’s main state bank will deny credit to farmers who are holding onto soybeans as a hedge against inflation, a top official said on Friday, as the government cracks down on crop hoarding as part of a campaign to build up its dollar reserves. The grains-rich but cash-poor South American
Argentine peso hits new lows as food price controls take effect
Argentina’s peso slid to an all-time low on Tuesday as supermarkets implemented food price freezes in an agreement with the government aimed at protecting poor families from one of the world’s highest inflation rates. The year-long price deal on 200 basic food products, agreed to last week and implemented Monday, signals a deepening of President
Argentina’s farmers hoard soybeans as inflation hedge
Argentine farmers are hoarding more soy this season than in past years, threatening to reduce much-needed export tax revenue as raw beans become the preferred unit of savings in an economy impaired by double-digit inflation. The South American farming powerhouse is the world’s No. 3 exporter of the oilseed at a time of increasing global
Strike stalls scores of grain ships in Argentina
Scores of grain ships were delayed in and around Argentina on Wednesday due to a three-day-old strike by port workers that threatens to bog down exports at a time of heightened world demand for South American soy and corn, sources said. Negotiations aimed at ending the work stoppage in the main grains hub of Rosario
Argentina threatens barley export cap in bid to boost wheat crop
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
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