by Hugh Bronstein
BUENOS AIRES (Reuters) – Rains in central Argentina have helped farmers plant 23.2% of the expected 2021/22 corn acreage, the Buenos Aires stock exchange said on Thursday, as farmers struggle with a new policy that they say could force them to plant less.
Major corn-producing provinces such as Córdoba are enjoying good soil moisture, the stock exchange said in its weekly report. Argentina is the world’s second largest corn exporter, after the United States.
Corn exports remain “open” despite a policy announced this week that prioritizes crops already harvested over future sales of the next crop, the Agriculture Ministry said on Tuesday.
Of the 55 million tonnes of corn expected to be harvested this season, a record 38.5 million has been sold as farmers race to secure high international prices as farm costs are pressured by high inflation.
Farmers considered the new policy an unnecessary intervention in the market. They say the aim is to slow domestic food price rises ahead of the November congressional election after ruling Peronists were defeated in last month’s primaries.
Farmer groups said the policy will put downward pressure on corn planting this season. But Esteban Copati, chief analyst at the Buenos Aires stock exchange, said many producers have already made their planting decisions for 2021/22.
Inflation is at 52.5% per year in Argentina. Consumer prices jumped 3.5% in September alone.
+ Until 2019, there were more people in prisons than on the Brazilian stock exchange
+ Aloe gel in the drink: see the benefits
+ Lemon-squeezing trick becomes a craze on social media
+ Chef playmate creates aphrodisiac recipe for Orgasm Day
+ Mercedes-Benz Sprinter wins motorhome version
+ Anorexia, an eating disorder that can lead to death
+ US agency warns: never wash raw chicken meat
+ Yasmin Brunet breaks the silence
+ Shark is captured in MA with the remains of youngsters missing in the stomach
+ See how much it costs to eat at the MasterChef judges’ restaurants
+ Auction of cars and motorcycles from Kombi to Nissan Frontier 0km