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☆ Argentina's Milei Calls on Two Officials to Resign After Reform Setback
▼ + stars: | 2024-02-09 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

BUENOS AIRES (Reuters) - Argentine President Javier Milei on Friday called for two government officials to resign, saying he needed greater commitment to his agenda after congress rejected his reform package earlier in the week. Milei, a self-defined anarcho-capitalist who took office in December, called for Mining Secretary Flavia Royon and Osvaldo Giordano, head of the country's ANSES social insurance agency, to step down. Congress' rejection of the omnibus bill on Tuesday marked a major setback for Milei, who has accused opposition lawmakers of "betrayal". "I wish the president a great administration and wherever I go I will continue to work for the good of Argentina," he said. On Friday he was in Rome, where he is scheduled to meet with his countryman Pope Francis.

Persons: Javier Milei, Flavia Royon, Osvaldo Giordano, Milei, Giordano, Royon, Pope Francis, Maximilian Heath, Sarah Morland, Cynthia Osterman Organizations: BUENOS AIRES, Reuters, Mining, Peronist Locations: BUENOS, Argentine, Argentina, Rome

☆ Exclusive: Argentina grains trade 'paralyzed' as farmers eye FX adjustment, bean shortage
▼ + stars: | 2023-11-23 | by ( Maximilian Heath | ) www.reuters.com time to read: +3 min

That hurts exporters who often have to bring most of their overseas sales back into the country at the official rate, getting fewer pesos for each dollar. While the government has rolled out exchange rate sweeteners for farmers, giving them a better rate, many producers are waiting to see what Milei does when he takes office. Idigoras said the lack of beans for the huge crushing plants that turn soybeans into oil and meal along the Parana River meant the facilities were operating at greatly reduced capacity. "Today we are at 73% average idle capacity in the crushing plants and 75% idle capacity in the grain ports," he said. He added that the crushing plants were bringing forward stoppages for technical maintenance due to the "impossibility" of being able to keep operating.

Persons: Marcos Brindicci, Javier Milei, CIARA, Gustavo Idigoras, Idigoras, Maximilian Heath, Adam Jourdan, Jonathan Oatis Organizations: REUTERS, Reuters, Cargill, Bunge, Thomson Locations: Rafaela, Argentina, BUENOS AIRES, Parana

☆ Argentine farmers: Milei victory an opportunity for 'radical change' for grains sector
▼ + stars: | 2023-11-20 | by ( Maximilian Heath | ) www.reuters.com time to read: +1 min

[1/2] Soy plants are seen in a farm near Pergamino, on the outskirts of Buenos Aires in Argentina April 27, 2021. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsBUENOS AIRES, Nov 20 (Reuters) - Javier Milei's election as Argentine president offers an opportunity for "radical change" in policy for the grains sector, the country's main rural associations said late on Sunday, offering to work "side by side" with the libertarian. He also wants to eventually close the central bank and dollarize the economy - more radical ideas that he may struggle to implement. "A great opportunity has opened up to work together to make radical change to the current policies," the Argentine Rural Society (SRA) said in a statement. Meanwhile, the Argentine Rural Confederations (CRA) called for Milei to work with the farm sector and demanded tax deregulation.

Persons: Agustin Marcarian, Javier Milei's, Milei, Maximilian Heath, Adam Jourdan, Christopher Cushing Organizations: REUTERS, Argentine Rural Society, Argentine Rural Confederations, Thomson Locations: Pergamino, Buenos Aires, Argentina, BUENOS AIRES

☆ Javier Milei: from TV pundit to the presidency
▼ + stars: | 2023-11-19 | by ( Maximilian Heath | ) www.reuters.com time to read: +5 min

Argentine presidential candidate Javier Milei reacts during the closing event of his electoral campaign ahead of the November 19 runoff election, in Cordoba, Argentina, November 16, 2023. REUTERS/Matias Baglietto/file photo Acquire Licensing RightsBUENOS AIRES, Nov 19 (Reuters) - When Argentine libertarian Javier Milei announced his entry into politics in 2020 in a bid to "blow up" the system, few predicted that three years later the wild-haired economist and former TV pundit could reach the presidency. Against that backdrop, Milei and his Liberty Advances coalition have seen a dramatic rise in support, especially among the young. "He is the change that Argentina needs," said 28-year-old Milei voter Ayrton Ortiz at a rally in Buenos Aires ahead of the election. "If Javier combed his hair neatly, if Javier didn't get angry, would people ever have invited him to speak?"

Persons: Javier Milei, Matias Baglietto, he's, Milei, Al Capone, Sergio Massa, Massa, Donald Trump, Ayrton Ortiz, THATCHER, Javier, Javier didn't, Diana Mondino, John Oliver, Tucker Carlson, Argentine Pope Francis, Diego Maradona, Margaret Thatcher, Karina, Conan, Murray, Milton, Robert, Lucas, Patricia Bullrich, Juan Gonzalez, El, Maximilian Heath, Anna, Catherine Brigida, Adam Jourdan, Rosalba O'Brien Organizations: Argentine, REUTERS, Peronist, Liberty, Fox News, Reuters, Thomson Locations: Cordoba, Argentina, BUENOS AIRES, Argentine, United States, Brazil, Buenos Aires, U.S

☆ Argentine Farmers: Milei Victory an Opportunity for 'Radical Change' for Grains Sector
▼ + stars: | 2023-11-19 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

By Maximilian HeathBUENOS AIRES (Reuters) - Javier Milei's election as Argentine president offers an opportunity for "radical change" in policy for the grains sector, the country's main rural associations said late on Sunday, offering to work "side by side" with the libertarian. Milei, a far-right libertarian, is pledging to reduce the size of the state and cut taxes. He also wants to eventually close the central bank and dollarize the economy - more radical ideas that he may struggle to implement. "A great opportunity has opened up to work together to make radical change to the current policies," the Argentine Rural Society (SRA) said in a statement. Meanwhile, the Argentine Rural Confederations (CRA) called for Milei to work with the farm sector and demanded tax deregulation.

Persons: Maximilian Heath BUENOS, Javier Milei's, Milei, Maximilian Heath, Adam Jourdan, Christopher Cushing Organizations: Reuters, Argentine Rural Society, Argentine Rural Confederations Locations: Maximilian Heath BUENOS AIRES, Argentina

☆ Explainer: What you need to know about Argentina's presidential election run-off
▼ + stars: | 2023-11-17 | by ( Maximilian Heath | ) www.reuters.com time to read: +4 min

BUENOS AIRES, Nov 17 (Reuters) - Argentina will vote in a run-off presidential election on Sunday, with Peronist Economy Minister Sergio Massa taking on libertarian outsider Javier Milei to determine the future of the region's second largest economy. It has one of the largest reserves of electric vehicle battery lithium, and huge shale gas and oil potential. Massa, the current government's wheeler-dealer 51-year-old economy chief, represents the ruling Union por la Patria (UP) coalition. The registry for the 2023 election is 35.4 million people and Argentines abroad can vote. In the runoff, the candidate who obtains the greatest number of total votes wins and would govern for a four-year term.

Persons: Sergio Massa, Javier Milei, Alberto Fernandez, Juan Peron, Evita, Donald Trump, Jair Bolsonaro, Massa, Milei, Patricia Bullrich, Juan Schiaretti, Pollsters, Maximilian Heath, Adam Jourdan, Andrew Cawthorne Organizations: Peronist Economy, Peronist, CARE, Monetary, WHO, La Libertad Avanza, U.S, la Patria, Pellegrini, Argentine Ministry of, REUTERS, Massa, WHAT'S, Investors, Thomson Locations: BUENOS AIRES, Argentina, China, Latin America, Brazilian, Peronism, Buenos Aires, Milei, Peronist

☆ Argentina drivers hunt for fuel 'like water in the desert' amid shortage
▼ + stars: | 2023-10-30 | by ( Eliana Raszewski | ) www.reuters.com time to read: +4 min

"The truth is that I work with the car and it's like looking for water in the desert," said 38-year-old Cabify driver Raul Paretto. "It is distressing because you don't know on a day-to-day basis what can happen; we are living one day at a time." EXPORT HALT THREATOil executives cited planned halts at local refineries, which provide 80% of domestic supply, and the country's scarce foreign currency reserves that have held up imports. Argentina's government has fixed a local oil price at $56 per barrel, far below the international price around $86 to try to calm local inflation of nearly 140%. loadingA second industry source, also declining to be named, also said that the issue was not output, but issues in refining the crude oil and the hurdles to bringing in imports.

Persons: Sergio Massa, Javier Milei, Raul Paretto, Leonardo Villa, Jorge Chemes, Massa, Vaca Muerta, Eliana Raszewski, Claudia Martini, Maximilian Heath, Adam Jourdan, Barbara Lewis, Jonathan Oatis Organizations: Argentine Rural Confederations, Reuters, Thomson Locations: BUENOS AIRES, Argentine, Peronist, Buenos Aires, Argentina, Vaca

☆ Argentina farmers eye election showdown with doubt and mistrust
▼ + stars: | 2023-10-23 | by ( Maximilian Heath | ) www.reuters.com time to read: +2 min

Tomas... Acquire Licensing Rights Read moreBUENOS AIRES, Oct 23 (Reuters) - Argentina's farmers, some of the world's most important producers of soy, corn, wheat and beef, have some strong views on the country's polarized presidential election finalists: untrustworthy and unreliable. Sara Gardiol, president of the Confederation of Rural Associations of farm province Santa Fe, said that statements from both appeared to be little more than empty words. "It is a very difficult moment for Argentina, but critical situations can also provide opportunities," he said. "I hope that this opportunity allows us to recalibrate things, to talk with the different actors, but also to make sure things are clear and concrete." Reporting by Maximilian Heath; Editing by Adam Jourdan and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Sergio Massa, Javier Milei, Tomas, Patricia Bullrich, Horacio Deciancio, Massa, Deciancio, Sara Gardiol, Carlos Achetoni, Maximilian Heath, Adam Jourdan, Marguerita Choy Organizations: por la Patria, La Libertad, National University of Santiago, Sunday, Peronist, Business, of Rural, Argentine Agrarian Federation, FAA, Thomson Locations: Argentina, National University of Santiago del Estero, Santiago del Estero, BUENOS AIRES, San Vicente, Buenos Aires, Santa Fe

☆ Explainer-Argentina Presidential Election: Key Takeaways From First-Round Vote
▼ + stars: | 2023-10-23 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +4 min

Massa and Milei will go to a run-off vote on Nov. 19 to take the presidency from mid-December, replacing outgoing center-left Peronist President Alberto Fernandez. Massa ended the night with 36.7% of the vote versus Milei on around 30%. Juan Schiaretti, who got a higher-than-expected vote share of nearly 7%, could also play an important king-maker role. Argentina's election race comes at a time of major uncertainty for the South American country facing its worst economic crisis in two decades. Any incoming government will have to resuscitate an economy facing triple-digit inflation, negative net foreign exchange reserves, and a sliding currency.

Persons: Maximilian Heath BUENOS, Sergio Massa, Javier Milei, Massa, Milei, Alberto Fernandez, Conservative Patricia Bullrich, Milei's, Donald Trump, Jair Bolsonaro, Juan Schiaretti, pollsters, Maximilian Heath, David Holmes Organizations: Reuters, Peronist Economy, Milei, Conservative, La Libertad Avanza, U.S, la Patria, Peronist, BE, WHAT'S, South, International Monetary Locations: Maximilian Heath BUENOS AIRES, Argentina, Brazilian, Massa, South American

☆ Argentina election 2023: what you need to know
▼ + stars: | 2023-10-13 | by ( Maximilian Heath | ) www.reuters.com time to read: +5 min

The election comes as Argentine voters have been hard-hit by 124% yearly inflation that has pummeled their purchasing power. Voting centers for the Oct. 22 election open at 8 a.m. local time (1100 GMT) and close at 6 p.m. Argentina's tight election races come at a time of uncertainty for the South American country facing its worst economic crisis in decades. PROJECTIONSFar-right libertarian Javier Milei is leading the polls ahead of Argentina's Oct. 22 presidential vote, but it remains a tight race between the top three candidates, three surveys showed. All three surveys had Economy Minister Sergio Massa in second place and conservative opposition candidate Patricia Bullrich in third.

Persons: Sergio Massa, Patricia Bullrich, Javier Milei, Alberto Fernandez, Dissident Peronist Juan Schiaretti, País, Myriam Bregman, Milei, Massa, Cristina Fernandez de Kirchner, Argentina's pollsters, Maximilian Heath, Rod Nickel Organizations: por la Patria, el Cambio, La Libertad Avanza, Argentine, WHO, Libertad, la Patria, el, Dissident Peronist, Frente de Izquierda, South, International Monetary Fund, Peronist, Thomson Locations: BUENOS AIRES, Argentina, Hacemos, South American

☆ Exclusive: Argentina's soy crushers face 'disaster' as bean shortage sharpens, chamber head says
▼ + stars: | 2023-10-05 | by ( Maximilian Heath | ) www.reuters.com time to read: +3 min

[1/3] Soy plants are seen in a farm near Pergamino, on the outskirts of Buenos Aires in Argentina April 27, 2021. "With those 3 million tons we have to survive until May 2024," he said. "Argentina may total 10 million tons of (soy) imports this year," Idigoras said, a new estimate. Government data show a record 8.2 million tons of soy imports until August, already over the 6.4 million tons for the entire drought-hit 2018. Last season's wheat harvest was cut in half to some 11.5 million tons, according to the local Rosario grains exchange, which estimates a better 15 million tons for the current season.

Persons: Agustin Marcarian, Gustavo Idigoras, CIARA, Idigoras, Maximilian Heath, Nicolas Misculin, Adam Jourdan, David Gregorio Our Organizations: REUTERS, Bunge, Cargill, Neighbor, Ministry of Agriculture, Thomson Locations: Pergamino, Buenos Aires, Argentina, BUENOS AIRES, Parana, Paraguay, Bolivia, Brazil, Rosario

☆ Argentina wheat sales stall as farmers wait for election, rains
▼ + stars: | 2023-09-22 | by ( Maximilian Heath | ) www.reuters.com time to read: +3 min

This figure compares with 5.28 million tons recorded at almost the same date 2022/23, according to the farming secretariat. The Buenos Aires grains exchange forecasts a 2023/24 wheat harvest of 16.5 million tons, up from the previous drought-hit harvest but lower than a peak of 22.4 million tons in 2021/22. Reuters GraphicsWEATHER AT PLAYThe other factor that is holding wheat sales in the weather, after a historic drought hammered crops over the last year. Cane agreed that, along with a drop in international wheat prices compared with last season, climate uncertainty is weighing farmers as they wait for heavier rainfall. A report on Wednesday by the Rosario grains exchange said heavier rain may only arrive "in the last days of September or the first days of October."

Persons: Nina, Agustin Marcarian, Miguel Cane, Cane, Patricia Bullrich, Javier Milei, Sergio Massa, Roberto Frigo, Rosario de Tala, Frigo, Maximilian Heath, Nicolás Misculin, Adam Jourdan, Marguerita Choy Organizations: REUTERS, Reuters, Entre, Tala, Thomson Locations: Navarro, Buenos Aires, Argentina, BUENOS AIRES, El, Rosario de, Entre Rios, Rosario

☆ Argentina sets grocery price controls for 90 days to tame inflation
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +2 min

A costumer counts money before buying tangerines in a green grocery store, as Argentines struggle amid rising inflation, in Buenos Aires, Argentina May 11, 2023. The move follows other price-freezing initiatives from the government to contain surging annual inflation, which topped 113% in July. Consumer prices are expected to rise further in August after Milei's shock primary win led to a sharp peso devaluation. On Thursday, the ministry announced it would freeze fuel prices until October 31 after an agreement with the industry. Reporting by Maximilian Heath; Writing by Carolina Pulice; Editing by David Alire Garcia and Diane CraftOur Standards: The Thomson Reuters Trust Principles.

Persons: Agustin Marcarian, Sergio Massa, Massa, Javier Milei, Patricia Bullrich, Maximilian Heath, Carolina Pulice, David Alire Garcia, Diane Craft Organizations: REUTERS, Economy, Peronist, Monetary, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES

Argentine presidential candidate Javier Milei of La Libertad Avanza alliance looks on as he casts his vote at a polling station during Argentina's primary elections, in Buenos Aires, Argentina August 13, 2023. REUTERS/Mariana NedelcuBUENOS AIRES, Aug 14 (Reuters) - Argentina's presidential election race has an unpredictable X factor: Javier Milei, a fiery and wild-haired libertarian who wears leather jackets, belts out rock songs to his supporters, calling his political opponents "thieves." He has railed against the "caste" of the political elite who he calls "robbers" taking money out of voters' pockets. "We are facing the end of the caste model," he said after the primary election results. I think that Javier is the right person," added Zoccola, who said he had previously voted for Together for Change.

Persons: Javier Milei, Mariana Nedelcu, Donald Trump, Benjamin Gedan, Milei, Al Capone, Adriano Gabriel Zoccola, Javier, Diana Mondino, He's, Anna, Catherine Brigida, Maximilian Heath, Adam Jourdan, Rosalba O'Brien Organizations: Argentine, La Libertad, REUTERS, American, Wilson, Peronist, Thomson Locations: Buenos Aires, Argentina, Mariana Nedelcu BUENOS AIRES, America, Washington

[1/5] Cattle run in front of Juan Carlos Ardohain, 49, on a farm he rents in San Vicente, on the outskirts of Buenos Aires, Argentina August 10, 2023. REUTERS/Tomas CuestaSAN VICENTE, Argentina, Aug 12 (Reuters) - In Argentina's grains fields and cattle ranches, farmers are hoping upcoming elections will bring political change and an end to years of economic uncertainty, ushering in freer markets with fewer currency controls and export limits. "I think Larreta could be a good candidate for what he's promising," said Juan Carlos Ardohain in a field he rents in San Vicente for cattle. Argentina's currency controls, which tightly limit access to dollars, have stoked a flourishing black market for foreign currency where greenbacks command over twice the official price, distorting import and export markets. Reporting by Maximilian Heath and Miguel Lo Bianco; Editing by Adam Jourdan and Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

Persons: Juan Carlos Ardohain, Tomas Cuesta, It's, Horacio Deciancio, Horacio Larreta, Patricia Bullrich, Sergio Massa, Mauricio Macri, Ricardo Firpo, Massa, Deciancio, Maximilian Heath, Miguel Lo Bianco, Adam Jourdan, Rosalba O'Brien Organizations: REUTERS, VICENTE, Peronist, Reuters, Argentine Rural Society, Thomson Locations: San Vicente, Buenos Aires, Argentina, breadbasket, Santa Fe, Ukraine

☆ Factbox: Who are the candidates in Argentina's primary elections?
▼ + stars: | 2023-08-11 | by ( Maximilian Heath | ) www.reuters.com time to read: +3 min

The polls will open at 8 a.m. (1100 GMT) with results coming in from 9 p.m. (0000 GMT). All candidates need a minimum 1.5% of the vote to be eligible for the general election, while the two main political blocs face internal leadership battles. JUAN GRABOIS AND JUAN SCHIARETTIGrabois, 40, a lawyer and labor activist, will compete with Massa for main Peronist nomination but lags well behind in polls. Schiaretti, 74, a regional governor, is a moderate with ties to Peronism running for a coalition of smaller parties. Reuters Graphics Reuters GraphicsReporting by Maximilian Heath; Editing by Nicolas Misculin and Diane CraftOur Standards: The Thomson Reuters Trust Principles.

Persons: SERGIO MASSA, Massa, PATRICIA BULLRICH Bullrich, Horacio Larreta, HORACIO LARRETA Larreta, Larreta, JAVIER MILEI, JUAN GRABOIS, JUAN SCHIARETTI Grabois, Maximilian Heath, Nicolas Misculin, Diane Craft Organizations: Peronist coalition's, la Patria, Peronist, Buenos Aires, Change, Bullrich, Harvard, Reuters Graphics Reuters, Thomson Locations: BUENOS AIRES, Buenos Aires, Argentina

☆ Argentina inflation seen at 142% this year, down from previous poll
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +1 min

BUENOS AIRES, July 7 (Reuters) - Expectations for galloping consumer prices in Argentina remain solidly in triple-digit territory, a monthly analyst poll showed on Friday, though the forecast edged down slightly compared with last month's survey. Analysts polled by the South American country's central bank forecast annual inflation this year at 142.4%, below the 148.9% seen in the bank's previous poll. Sky-high inflation has hammered Argentina's slumping economy, as the ranks of the poor swell and the peso currency steadily weakens. Monthly inflation in May clocked in at 7.8%, according to the national statistics agency. By 2024, the analysts see the annual rate of rising consumer prices edging down to 105%.

Persons: Argentina's, Maximilian Heath, Carolina Pulice, David Alire Garcia, Leslie Adler Organizations: South, Sky, Argentine, Thomson Locations: BUENOS AIRES, Argentina

☆ El Nino may hammer Asian farms with dry weather, but shower American growers
▼ + stars: | 2023-06-01 | by ( Naveen Thukral | ) www.reuters.com time to read: +5 min

El Nino, a warming of water surface temperatures in the eastern and central Pacific Ocean, is expected to develop in the coming months, according to meteorologists. The onset of monsoon rains across South Asia is likely to be slightly delayed this year and El Nino could hit rice and oilseeds production. "El Nino could develop during July ... it might have an impact in the second half of the season," said O.P. "In general, a big part of the Pampean region and Northern Argentina have above-normal rains with the El Nino phenomenon." In Europe, where El Nino is not typically linked to pronounced weather patterns, major crops are in good shape after abundant spring rain, with the exception of drought-hit Spain.

Persons: El Nino, Chris Hyde, El, Phin Ziebell, Sreejith, Germán Heinzenknecht, David Tolleris, Rains, Naveen Thukral, Maximilian Heath, Mark Weinraub, Rajendra Jadhav, Gus Trompiz, Christian Schmollinger Organizations: Nino, El, National Australia Bank, India Meteorological Department, El Nino, HIT, Thomson Locations: Australia, India, Southeast Asia, Asia U.S, South America, SINGAPORE, Asia, U.S, Indonesia, Malaysia, Thailand, Pakistan, El Nino, Americas, Russia, Ukraine, New South Wales, Queensland, South Asia, ARGENTINA, United States, Argentina, Northern Argentina, China, Europe, Spain, Buenos Aires, Chicago, Mumbai, Bengaluru, Paris

☆ Argentina's ruling Peronist party wins provincial elections
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +1 min

May 14 - Argentina's ruling Peronist party posted strong wins in elections Sunday, appearing to hold control over three provinces just months ahead of presidential elections in which support for the party is flagging. The results come as a relief to President Alberto Fernandez's ranks as economic unrest has shaken the party's hold over the country. Fernandez has said he is not seeking re-election, however a Peronist coalition is still aiming to hold onto power. Although the outcome is good news for the party, its fate in the presidential elections will likely be decided in more populous provinces, such as Buenos Aires, Cordoba, Santa Fe and Mendoza. Reporting by Maximilian Heath; Writing by Kylie Madry; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

The measures include an interest rate hike by the central bank, the economy ministry said in a statement. The ministry did not elaborate, but an official source told Reuters the hike would be 600 basis points, bringing the rate up to 97%. The rate hike will take effect Monday, the source added. The South American nation is battling to bring down inflation that hit 109% on an annual basis in April. The central bank will also increase its intervention in the foreign-exchange market and double down on its currency devaluation plan, the ministry said.

☆ Argentina secures initial irrigation funding after withering drought
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +2 min

The approved loan is part of irrigation development plan that aims to ultimately invest some $2.07 billion in public spending and nearly double the amount of farmland with irrigation systems in place. The government's irrigation plan "will allow the development of the country's productive potential" by adding 1.9 million hectares (4.7 million acres) to its total irrigated areas, said Jorge Neme, the country's development planning secretary. Argentina currently boasts around 2.1 million hectares of irrigated farmland, said Neme in the economy ministry statement. Over 30 irrigation projects are already underway in the country's trio of top agricultural provinces Buenos Aires, Santa Fe and Cordoba, which have seen the worst drought impacts. The irrigation projects will be financed by local funds, as well as multilateral organizations including the World Bank, the Inter-American Development Bank and the Development Bank of Latin America, according to the statement.

☆ Argentina's latest 'soy dollar' scheme sees few takers on first day
▼ + stars: | 2023-04-10 | by ( Maximilian Heath | ) www.reuters.com time to read: +2 min

Would-be participants in the "soy dollar" program need more details, several told Reuters. Spot market transactions under the latest version of the policy, which initially kicked off last year, showed no movements on Monday, according to traders. "It started quite calmly with few offers from factories in a very cautious market waiting for more information," said Eugenio Irazuegui, a researcher with brokerage Enrique Zeni y CIA. Only about 17.5% of the 2021/22 soybean crop of some 44 million tonnes remains in local storage, according to official data at the end of March. Meanwhile, about 5.5 million tonnes of soybeans from the current 2022/23 harvest, which has only just begun, have been sold, official data showed, compared to about 12 million tonnes at the same time during the year-ago period.

BUENOS AIRES, April 7 (Reuters) - Argentina's state oil company YPF has agreed to pay nearly $300 million to the creditors of one of its now-bankrupt subsidiaries after they sued the company in relation to a historical U.S. environmental case, it said. In 2016, Maxus Energy Corporation filed for chapter 11 protection in the U.S. Bankruptcy Court in Delaware. YPF said its former subsidiary had met its obligations until then, without specifying if these were financial or environmental. Under the conciliation agreement reached this week, the Maxus Liquidation Trust agreed to drop the claims it had filed against both YPF and co-defendant Spanish oil company Repsol, the statement issued by YPF said. In turn, YPF and Repsol agreed to pay the trust $287.5 million each, without admitting any responsibility.

GMO wheat has never been grown for commercial purposes due to consumer fears about allergens or toxicities in the staple crop used worldwide for bread, pasta and pastries. The association was against adopting GMO wheat previously, but changed its stance after a survey it commissioned showed more than 70% of Brazilians would not mind consuming products containing it. Bioceres has said its GMO wheat "showed higher yields than conventional varieties across all environments, with an average 43% yield improvement in targeted environments." In November 2021, Brazil became the first country in the world to allow imports of flour made with GM wheat. "The approval for planting, imports and commercialization of GMO wheat resolves this issue, bringing peace of mind to different market actors," Abitrigo said in a statement.

☆ Argentina asks UK to resume negotiations over Falklands
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +1 min

BUENOS AIRES, March 2 (Reuters) - The Argentine government has again asked the United Kingdom to restart negotiations over the sovereignty of the Falkland Islands, the Argentine Foreign Ministry said on Thursday. The request to resume talks is the latest chapter in Argentina's long-held claim over the British-run islands, which included the 1982 war. Argentine Foreign Minister Santiago Cafiero "formulated a proposal to restart negotiations for sovereignty over the Falklands Question" in a meeting with his British counterpart James Cleverly during a summit in India, the Foreign Ministry said. The Argentine government also invited the UK to "hold a meeting to settle" the debate at the United Nations. Islanders have the right to decide their own future - they have chosen to remain a self-governing UK Overseas Territory."

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