November 3, 2018 |
Argentine farmers haven’t had an easy time. A decade ago, they revolted against a proposed tax hike on soybean exports, their biggest crop. Though they succeeded in stopping the increase, farmers then had to deal with capital controls and price caps that led to a reduction in output. Now, another export tax is thinning profits just at a time when the agricultural industry is hungry for investment—and the country’s financial crisis has pushed capital beyond its reach.
These challenges couldn’t have come a worse time for Argentina. With the demand for food expected to soar over the next few decades, Latin America, the world’s biggest net exporter of food, could reap a bounty. But Argentina’s
To feed the world’s growing population, Argentina could play
a bigger role. But that will require investing billions of dollars in a