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Argentine Farmers Reap Discontent
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Argentina's Kirchner government pressures soy farmers in the Pergamino region, north of Buenos Aires, to increase soy bean exports after a bumper crop. This is intended to maintain Argentina's international reserves of $29.5 billion in May 2014. Soy bean exports are likely to bring in an estimated $29 billion in 2014, making up about one third of exports.
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Argentina's international reserves of $29.5 billion in May 2014 and the higher soybean crop in 2014
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An effort to increase soy bean exports to maintain international reserves and support the peso currency. High taxes of 35%, and an aborted increase to a floating rate upto 50%, have led to opposition from farmers to government policies.
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