RIO DE JANEIRO, BRAZIL – Argentina’s agribusiness has so far lost US$1.084 billion due to government interventions in the grain and meat markets, estimates the Institute of Economic Studies, linked to the Argentine Rural Society (SRA).
According to the Institute, among the links in the chain, the hardest hit were farmers, who lost US$411 million, followed by meat packing plants, losing US$165 million.
Losses in workers’ salaries totaled US$59 million, the organization says.
“I don’t understand why we should maintain the export quota if it impoverishes us all,” says the organization’s chairman Nicolás Pino.
“If the government maintains the current export system, the president will not only have failed to keep his word, but will also lead to the country losing over US$8 million per day.”