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Article: SOY INDUSTRY BOOMS IN RURAL ARGENTINA.
- Article from:
- NotiSur - South American Political and Economic Affairs
- Article date:
- February 27, 2004
CopyrightCOPYRIGHT 2004 Latin American Data Base/Latin American Institute. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Cultivation of soy crops in rural Argentina has exploded thanks to a weak Argentine peso, a bad growing season in the US, and strong demand from China. Soy, the nation's key export, has become a crucial element in Argentina's efforts to rebound from its economic meltdown of 2001, particularly in the central plains where soy producers are enjoying unprecedented wealth.
This, in part, has contributed to a national economic growth rate in 2003 of 8.4%, much better than Economy Minister Roberto Lavagna had expected. The 8.4% figure is partly owed to construction and industry, but also to the agricultural sector, thanks to increases in international prices. The ...