Argentina’s worst drought in memory lands a new blow to the economy
Gross domestic product in South America’s second-largest economy, which desperately needs US dollars, will shrink 3 per cent this year, worse than the previous forecast for a 1.5 per cent contraction, as one of the worst droughts in recent memory ravages crucial farm exports. Argentina’s looming recession will be more profound than first expected as one of the worst droughts in recent memory ravages crucial farm exports. Gross domestic product in South America’s second-largest economy, which desperately…
Freight trains in Argentina marked another record year: they exceeded 8.4 million tonnes transported
For the second consecutive year, the 8 million tons were transported through the state freighter TAC, which remains the most extensive rail operator in the country with a 35% market share. Cargo transportation increased by 57% compared to the three previous years after exceeding 8 million tons mobilized for the second consecutive year. Through Trenes Argentinos Cargas, the largest railway operator in the country, 8,418,271 tons were mobilized during 2022, consolidating the objectives set within the framework…
Our view of Argentina’s economy over the next five years
It’s difficult to predict the future with certainty, but here is a hypothetical scenario for Argentina over the next five years. Over the next five years, Argentina is likely to face a number of challenges and opportunities. One major challenge is the country’s struggling economy, which has been hit hard by inflation, high unemployment, and a large public debt. In recent years, the Argentine government has implemented a number of measures to address these issues, including negotiating a loan with…
French giant RAGT Semences Acquires Argentine Seed Company Tobin
The seed division of the French agriculture and life sciences giant, RAGT Semences, acquired 100% of the equity of the traditional Argentine seed company, Tobin. Groupe RAGT, based in Rodez, Aveyron, employs 1,450 persons, with annual revenue of € 411 million. RAGT Semences develops and markets seeds in Argentina and in 47 other countries around the world. The Tobin acquisition reinforces RAGT’s commitment to Argentina. Tobin was a family-owned company focused on sorghum, maize, and sunflower seed…
Why does Argentina have a dual currency ? The Blue Rate
In Argentina, where about a dozen different exchange rates overlap, the government is creating ever more rules about who can access dollars and for what, making an already vexing system more complicated in a bid to delay the inevitable devaluation. Is the Blue Market Really a Black Market? In a standard economy, money is money. Whether you carry a briefcase of crisp hundreds into a bank in New York or a sack filled with small bills into a branch in Nebraska, the deposit to your account will look precisely the…
The buying and selling of farms are recovering, leaving unsatisfied demand for the main producing regions of Argentina
It happens amid the instability of stock and financial assets in the world, the acceptable values for commodities and the price of land. The instability of the stock market and other financial assets at a global level, plus the high value of commodities and land, are three of the factors that weigh more and more on investors when buying a farm. These elements put the activity of the rural real estate market throughout the country on the rise. To the point that currently, the demand for agricultural land in…
Boom times ahead for Argentine with the winds of change beginning
NO WEALTH HAS EVER BEEN CREATED BY GETTING IN LATE! THE ARGENTINE PESO HAS PLUNGED TO HISTORIC LOWS THE CURRENT MARKET VALUE OF ARGENTINA’S FARMS, COMMERCIAL, AND RESIDENTIAL REAL ESTATE IS A CONTRARIAN VALUE INVESTMENT PLAY RIGHT NOW, CREATING CONDITIONS FOR A BOOM We believe there is already evidence of a desire for a turnaround in Argentina’s economic policies due to a series of significant positive developments that have recently taken place and that there is a window of opportunity to acquire Argentine…
Ranking: The five cities with the most expensive real estate in Argentina
It is historical, the properties located in the city of Buenos Aires are the most expensive in the country. Without going any further, according to the latest Index from the Zonaprop portal, in November, the average price of an apartment was US$2,562/m². However, the purchase price of real estate in some cities in the interior of the country is not far behind either. Based on a private survey by Zonaprop, which LA NACION was able to access, in which the cities that have -at least- between 400 and 1,300 properties…
Argentina experiencing a boom in exports
Argentina has shipped exports worth an all-time high of US$ 44 billion in the first half of 2022, according to Foreign Ministry data, it was reported Monday. A press release by the Argentine Foreign Ministry showed exports during the first six months of this year amounted to US$ 44,377 million, 12% above figures from 2011. Compared to 2021, the increase was 25.5% and 44% against 2019. Argentine officials are projecting exports worth US$ 90 billion by year’s end. The official document also noted that exports…
Airline exodus sees Argentina lose connections to 18 cities worldwide, says report
Seventeen airlines have left Argentina over the past three years, according to a new report; In the first four months of 2022, there were 50% fewer international flights than in the same period of 2019. A new report probing the state of aviation in Argentina has concluded that the country has lost connections to as many as 18 international destinations over the last two years. The study, released by the Buenos Aires City government, found that 17 fewer airlines are now operating in the capital compared to before…
Argentina has a record grain harvest.
Despite the political upheaval in Argentina, which seems to have temporarily quietened, whether preparing for an even worse storm or heading for a reasonable path of rationality yet to be seen, the country, one of the world’s most efficient breadbasket, is again managing extraordinary crops of corn and wheat. In effect, according to the Rosario Stock Exchange’s Strategic Guide for Agriculture, foreign sales of the coming 2022/23 corn season already reached a record six million tons, the largest…
Fighting inflation in Latin America
Central banks in Latin America can certainly not be accused of remaining passive in the face of rising price pressures. They were the first to begin hiking interest rates towards the end of last year, and since then have engaged in by far the most aggressive monetary tightening of any world region. Our analysts forecast the average policy rate in Latin America to rise from 5.7% at end-2020 to 15.5% at end-2022, a nearly 10 percentage point increase. In contrast, over the same period, interest rates in G7…
Argentina the Serial defaulter is in crisis once again
Few keywords have been more constant throughout my 34 years of newsroom experience than “crisis.” If the aim of this column is to give current events the perspective of 34 years of newsroom experience at the Buenos Aires Herald (1983-2017), few keywords have been more constant throughout that experience than “crisis.” If people find the current pace of inflation and the shrinking peso alarming (as indeed they should), my starting salary for my first full month at the Herald in the June of 1983 was…
Argentina black market peso crashes as new economy chief takes reins
Argentina’s closely watched black market peso crashed on Monday after the country’s economy minister quit abruptly over the weekend and was replaced by an economist more closely aligned with the far-left wing of the ruling Peronist coalition. Argentine President Alberto Fernandez was set to swear in economist Silvina Batakis on Monday after the shock exit of long-standing minister Martin Guzman at a time of growing economic crises and tensions within the government. The peso-dollar rate…
Four Scenarios for Argentina’s Inflation Crisis
History suggests that inflation’s path will determine the outcome of the 2023 elections. It would be an understatement to say that Argentina has a pathological relationship with inflation. Going back to the mid-20th century, hardly any country in the Western Hemisphere has a worse track record. After hyperinflation in 1989, a currency peg during the 1990s held back price increases until they spiked again in 2002—and ever since inflation has been the country’s main macroeconomic issue. But inflation…
