I sent out a special Newsletter with some thoughts on Argentina - first paragraphs:
"New seed law for soybeans, IMF bridge loan, and possible new export taxes- everything is up in the air again – inauguration Jan 1. Can some things get done before then? I do not know- more than likely no.
What does this mean for super farms like Los Grobo? Can they secure the funding they need going forward? Does this inhibit growth plans for them? Then again crisis: maybe they see this as opportunity and suck up more land as others give up?"
Argentine agriculture is relatively capital intensive, today providing about 7% of all employment even during its period of dominance around 1900, accounting for no more than a third of all labor. Having accounted for nearly 20% of GDP as late as 1959, it adds, directly, less than 10% today. Agricultural goods, however, whether raw or processed, still earn over half of Argentina's foreign exchange and arguably, remain an indispensable pillar of the country's social progress and economic prosperity.
An estimated 10-15% of Argentine farmland is foreign owned.
MAR 2007: Kory Melby, Rosario, Argentina. Ag Tour
Map: Karen Braun. Global Agriculture Columnist at Thomson Reuters.