Tag: Argentina drought

• Tuesday, September 25th 2018 - 06:59 UTC

  “Zero chance” Argentina will default on its debt next year, Macri tells bankers and investors

  

  President Mauricio Macri said on Monday that Argentina was close to a deal with the International Monetary Fund to bolster a US$ 50 billion credit line, while a government source said US$ 3-US$ 5 billion in additional funds could be announced this week.

• Thursday, September 20th 2018 - 06:50 UTC

  Argentina's economy contracts 4.2% in second quarter: severe drought blamed

  

  Argentina's economy contracted sharply in the second quarter after a severe drought roiled agricultural production and as the country works with the International Monetary Fund to stem spiraling inflation and control government finances.

• Wednesday, June 27th 2018 - 08:12 UTC

  Argentine economy shrinks 0.9% as agriculture hit by drought plummets 31%

  

  Argentina’s economy shrank in April for the first time in more than a year, government data showed on Tuesday, while the central bank held its policy rate stable at 40% in the first rate decision since a shakeup in its leadership.

• Wednesday, April 11th 2018 - 18:35 UTC

  Argentina imports 120.000 tons of soy-beans from United States

  

  Argentina, the world’s third biggest soy producer, booked its largest purchase of U.S. soybeans in 20 years on Tuesday after drought cut its harvest, forcing crushers there to turn to imports. The surprise move pushed Chicago soybean futures to a one-month high, in the latest development to upend global soy trading after top buyer China last week proposed tariffs on U.S. imports amid an intensifying Washington-Beijing trade dispute.

• Wednesday, April 11th 2018 - 09:21 UTC

  Drought will cost Argentina's herd up to a million head

  

  Argentina’s herd will shrink by up to 1 million head of cattle next year as ranchers facing scorched pastures after the worst drought in decades decide to slaughter females rather than grow their herds, analysts said.

• Friday, March 23rd 2018 - 09:06 UTC

  Argentina expanded 2.9% last year; 2018 challenging given the persistent drought effect on crops

  

  Argentina's economy expanded 2.9% in 2017 from the prior year and 3.9% in the fourth quarter versus the same period in 2016, the Indec statistics agency said this week. The year-over-year figure was slightly above the 2.8% annual growth rate given last month by Argentina's monthly economic activity indicator, seen as a proxy for gross domestic product.

• Friday, March 16th 2018 - 10:14 UTC

  Dry summer cuts Argentina's soy crop to 40m tons; US$ 4.6bn negative impact on the economy

  

  Argentina's Rosario Grains Exchange slashed 14% off its forecast for the country's soy crop on Thursday, saying a drought now in its fourth month would limit the harvest to 40 million tons versus its previous estimate of 46.5 million. Argentina has been suffering dry weather since last November.

• Wednesday, February 28th 2018 - 09:37 UTC

  Prolonged drought wrecking soybean and corn crops, threatens Argentina's growth

  

  A prolonged drought wreaking havoc on Argentina's soybean and corn crops could threaten the country's economic performance in 2018, an official said, as the country seeks to grow for a second straight year after several years of biting recession.

• Saturday, February 24th 2018 - 09:10 UTC

  Drought hits Argentina's soybean and corn crop estimates: 10% and 12% down

  

  The lack of rain triggered by the La Nina weather phenomenon has prompted the Rosario Exchange to cut its forecast of Argentina’s 2017/2018 corn and soybean crop by 12% and 10%, respectively, making it one of the most bearish analysts in the market.