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Argentina’s Adecoagro’s Dairy segment sales grow​ 100% inter-annual​​ly

In November 2018 Adecoagro bought from SanCor (the former largest dairy cooperative in Argentina) two plants, one in Chivilcoy (Buenos Aires province) and the other in Morteros (Córdoba), and two milk brands: Las Tres Niñas and Angelita, for USD 47 million. After that, they launched long-life milk brand, Apostoles, produced at the fluid milk processing Chivilcoy facility. In the Morteros facility, the company elaborates powder milk and cheese. This week, CEO of the company, Mariano Bosch, celebrated…

Argentina: Outlook darkens as Peronist chances grow

Argentine crisis
Argentina’s economic outlook has deteriorated notably since August’s LatinFocus edition. The primary elections on 11 August revealed that President Mauricio Macri is trailing in a very distant second place in the run-up to the October elections, shocking market analysts and sparking a huge and destabilizing capital flight in turn. The drastic change in political landscape and unfolding market turmoil has significantly affected the country’s outlook, particularly for next year. Now, GDP is…

Panic Sweeps Argentine Pampas as Farmers’ Old Nemesis Returns – Peronism

All across the Pampas, in one wind-swept little farming town after another, a sense of dread has suddenly set in. Mauricio Macri, the man who championed the cause of the Argentine farmer, is almost certain to lose his re-election bid in October and will hand back the presidency to the leftist party that tormented the region for years. A primary vote held a few weeks ago made that clear. The concern is so severe that many here aren’t waiting for the actual election to confirm Macri’s defeat. They…

Argentina’s beleaguered government imposes capital controls

Fear of a return of the authoritarian and highly corrupt previous Kirchner government provokes a market crash, forcing the president’s hand When Maurico Marci was elected president of Argentina in 2015, one of his first acts was to abolish capital controls that restricted buying and selling of the peso. The move symbolised Argentina’s pivot back to open markets and liberal economic reforms under his rule. On September 1st, after weeks of market turmoil, Mr Macri was forced to issue a decree reimposing…

Argentine oilseed industry close to starting​ selling processed soybean meal to China

A Chinese mission is currently inspecting soybean meal factories in Argentina, to approve them for exporting the byproduct direct to China. Argentina is the largest world soybean meal exporter, with more than 65 million metric tons of crushing capacity. Along the Parana river, global and local oilseed companies mounted their processing plants and ports. During 2016 the crushing industry reached a processing record of about 44 million metric tons of soybean. This year, after recovering from the drought which…

Buenos Real estate sales weak but prices keep rising?

The average price per square meter is around USD 2,330, close to a record. The owners prefer to delay selling rather than accept a lower price. This is not a new characteristic of the local market but reflects that few home owners have mortgagees so do not feel pressured to sell at what they see as a temporary pause. Whether this attitude will change with a likely change of government that has in the past put capital controls on the currency and wrecked the economy will remain to be seen but the high flow of…

Argentine Crisis: the Real Estate Sector approaches 2001 levels

In July there was an improvement compared to June, but those numbers of real estate sales in the city of Buenos Aires does not reflect the 14 months of consecutive year-on-year decline, a historical cycle similar to what happened after the 2001 crisis, although still far from the exchange rate crisis, during the presidency of Cristina Kirchner, which caused 25 months of falling prices. Last July there were 3208 operations, according to the Colegio de Escribanos porteño, 18.7% more than in June, but a…

Argentina’s Belgrano Railway dramatically lowers logistics costs

100 wagons on the Belgrano Line departed from Joaquin V. Gonzalez in Salta, towards the town of Timbou. It was transporting 3,980 tonnes of grain, on a trip that was completed in just three days 1,180 kilometres through the old cereal line, through the provinces of Salta, Chaco, Santiago del Estero and Santa Fe. “The revival of the railway brings equal opportunities for producers, so they can compete and export to the world,” he said Guillermo Dietrich, Minister of Transport of the Nation. Growth…

The billion-dollar agritech start-ups disrupting farming

Investors such as Google and Temasek pile into another sector looking for help from technology Growers in the US have traditionally relied on a distribution system where they had little access to comparable data and opaque pricing of everything from seeds to fertilisers to pesticides. But the combination of falling prices amid bumper crops, consolidation of agricultural groups and the US trade war with China has forced them to seek ways to shore up revenues. Backed by investors such as Google’s venture…

Does Argentina Need the US Dollar?

The peso swoons after a presidential vote, showing the risk of an inflation tax The Argentine peso gained ground late last week after a three-day rout that followed President Mauricio Macri ’s crushing defeat in the Aug. 11 primary for a second term. But there’s no sugarcoating reality: The Argentine hunger for dollars has shot up alongside the risk of holding peso assets.  At least part of the small recovery may have come about because on Thursday the central bank put a limit on…

An Overview of the Biggest Marijuana Players in South America

There has been a lot of buzz lately about marijuana reform in South and Central America. Although Uruguay will always hold the title for being the first country in the world to legalize recreational marijuana, the Green Wave is hitting the continent in one large swoop. Canadian companies have already seen this opportunity, as South American partners and subsidiaries strike deals for the production and global export of (for now) non-intoxicating CBD. But reform takes time. At the rate things are going, South…

El Síndico: The Protector of Argentine Shareholders and Members?

Argentina’s National Constitution may be modeled after the U.S. Constitution but the South American nation’s corporate law draws primarily on the legal tradition of Continental Europe.  Beyond its similarity as a “code-based” legal system, much of Argentina’s procedural and substantive rules are specifically inherited from legal systems reformed by the Napoleonic reign. One such remnant of this inheritance is the síndico. The figure of a síndico is…

Gateway’s Marketing Funnel helps Investors find new opportunities in South American

More and more of our South American vendors want to promote their properties using digital and social media tools along with local traditional media. To assist with this we are going to increase the number of marketing opportunities for their properties to appear in. This will be a substantial benefit for those with well presented and market priced properties but will mean some properties will have to be dropped if they fail to fit into this criteria or they will quickly become over exposed and unsalable. Real…

Argentina’s political leadership not facing up to the urgent economic realities

Argentina went to the polls on Sunday to choose the candidates in the presidential election to be held on October 27. However, there were no competing candidates as all the main parties only presented one option. President Mauricio Macri, who intends to run for a second term, was expecting to finish neck-and-neck with the Peronist opposition leader Alberto Fernández. He was not even close. Fernandez won the primary by a large margin (47 per cent to 32 per cent), enough to secure the presidency in October…

The Argentines punished their government for the recession, but look what a pandora’s box they’ve opened.

A lot of Argentinians were frustrated and had the intention of punishing the current business-friendly government without understanding that in this 2019, not 2003 ironically and although it hurts, the least relevant is the local economy. These choices are the most important that they have ever faced, but at the same time, the simplest. Decency must oppose the K dictatorship because without decency there is no freedom possible and without it simply, there is no point in living. This election addresses an abysmally…
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