The worst drought of the last 100 years in Argentina negatively affected the country’s economy. In this respect informs News 24.
Argentina’s economy is in a protracted crisis, with annual inflation exceeding 100% in 2023. At the same time, the country owes more than $44 billion to the International Monetary Fund, making its export performance critical. Now, according to official estimates, soybean and wheat harvests have been cut by half and corn harvests by more than a third this year, despite the fact that these crops play an important role in exports and participate in filling the state budget. .
At the same time, the announced assessment is a preliminary assessment and the final damage amount can only be determined after the harvesters have entered the fields. Also, since rainfall is reduced by about half, even the crop that can be harvested will be of lower quality due to lack of water.
Rosario economist Thomas Rodríguez Zurro estimates the total damage done to the Argentine economy by the bad season at $20 billion, or almost three percent of GDP.
Agricultural expert Jaime Mestre added that in the agricultural region of Lima, about 100 kilometers northwest of Buenos Aires, most of this year’s soybean crop will be left in the field. This is because the soybeans grown are of poor quality, and therefore the business of harvesters and supply chains becomes unprofitable. Moisture in the soil around Lima has dropped to about five percent, not enough to plant the next wheat crop in a few weeks. The grown corn cobs are brown and cracked, while the corn kernels are small and irregularly shaped. At the same time, the situation can no longer be corrected, even if it rains right now.
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