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…
Global grain shortage is an opportunity for Argentina’s ‘green gold’
The soybean harvest will be smaller than last year, but it will bring in record prices as a result of Russia’s attack on Ukraine. Agro-industrial exports could reach as high as US$41 billion this year, according to experts. Argentina’s strong soybean and grain harvest this year is a source of optimism in the face of a global grain shortage brought on by the war in Ukraine – as well as a supplier of an injection of “agro-dollars” into the country’s battered economy. In May, the…
Argentina becomes the first country to approve genetically modified wheat
Argentina, the fourth largest wheat exporter in the world, has become the first country in the world to approve the commercialisation of a variety of transgenic wheat Argentina has become the first country to approve the growth and consumption of genetically modified wheat, the Agriculture Ministry announced Thursday. In a statement released by the portfolio, the Consejo Nacional de Investigaciones Científicas y Técnicas de Argentina (National Commission for Science and Technology, CONICET) said…
Excellent Rains in Argentina’s soybean belt give expectations of a bumper 2019 harvest
Unlike last year the rains has been good in key parts of the Pampas including northern Buenos Aires, and southern Cordoba, Santa Fe, and Entre Rios provinces Rainstorms are sweeping Argentina’s soy belt, building soil moisture needed to guarantee good yields when crops blossom in February and providing some cushion for China to buy should its trade war with the United States continue to limit U.S. supplies. Bolstered by strong showers in key parts of the Pampas farm region, which meteorologists expect to…
Argentina’s huge wheat harvest should boost its struggling currency
Argentina’s plummeting currency ( AR Peso ) is set for buffering from bumper wheat crops as it becomes one of the few countries to emerge from a 2018 harvest with a sizeable yield. Several top producers from around the world, including Australia, the US, and much of Europe, have struggled to deliver high yields in the face of a difficult climate involving droughts and extraordinary heatwaves. This has caused Asian countries such as Indonesia, which ranks as one of the highest purchasers of wheat worldwide,…
Argentina’s worst drought in 50 years has crushed the country’s cash flow
The economic activity in April fell 0.9% annualised and 2.7% in March, but with a production drop of 30% in agriculture and livestock. It is thought the degree of the drop could reflect the beginning of a short-term recession. The worst drought in 50 years struck negatively with economic activity in April, which fell 0.9% year on year and 2.7% from March, seasonally adjusted, reported yesterday by the INDEC . The results of analysed data are conclusive. The agricultural sector showed a decline of 30.8% year…
