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, […] Read more
Argentina denounces farmer soy hoarding, says hurts state income
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 […] Read more
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 […] Read more
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 […] Read more
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 […] Read more
Argentina threatens barley export cap in bid to boost wheat crop
Reading Time: 3 minutes 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
Argentina wheat policy sows uncertainty
Reading Time: < 1 minute Wheat farmers and exporters in Argentina say the government should announce new-crop export quotas as soon as possible if it wants to spur sowing and lock in high global prices after years of declining output. Argentina is a major world supplier of wheat, soy and corn at a time when consumer nations are clamouring for […] Read more
Argentine exchange trims wheat view
Argentina will seed 22 per cent less wheat this season than it did in the previous crop year, a key local exchange said Thursday, feeding a world rally in grains prices sparked by dry and hot U.S. farm weather. Argentina is the world’s No. 6 wheat exporter and the top supplier to neighboring Brazil. With […] Read more
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