Argentine Agriculture

Posted by admin in Aug, 2018

Argentine Agriculture, the second largest country in South America.and eighth largest in the world has a wealth of natural resources.

The principal agricultural region consists of the humid pampas, one of the world’s greatest reaches of arable land. Argentine agriculture is virtually coextensive with this region, although efforts have been made to spread it into other areas. Citrus fruit, tobacco, cotton, and sugarcane are cultivated outside the pampas.

The province of Mendoza is the center for the nation’s vineyards. In 1999, grape production was 2.5 million tons. Argentina is one of the world’s leading producers of wine, accounting for 1.26 million tons in 1999, or 4.5% of the world’s total production.

In 2017, Argentina produced 57.8 million tonnes of soybeans compared to 40.1 million tonnes five years earlier. Reduced export tariffs have also been a boon for wheat production.

But huge external debts, high inflation and decades of corruption have led the country to the point of economic collapse and almost half of its population is estimated to be below the poverty line.

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Restrictions on withdrawing cash from banks have, for the first time in a year, been recently lifted. But it is feared that a rush to convert currency to dollars would further undermine the peso, which has lost about two-thirds of its value in less than a year, and exacerbate the already sharp increase in inflation.

A debt payment of $805m to the World Bank was recently in default and negotiations with the IMF have still to be finalised. During 2002, Argentina’s economy shrunk by 14% and the official unemployment rate is now over 20% but these figures fail to reveal the full impact of rising poverty and deprivation that has affected the country during the last year.