Argentina Inflation Rate Hangs Over Presidential Ballot bloomberg.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bloomberg.com Daily Mail and Mail on Sunday newspapers.
(Bloomberg) A ban on corn exports in Argentina is fanning fear among farmers and traders that one of the world’s top food suppliers is returning to an era of brutal meddling in crop markets.The measure creates yet another driver for surging global grain futures, given Argentina is the third-largest shipper of corn, and stokes concern of an up-tick in food nationalism around the world as the pandemic disrupts trade.The Argentine government suspended corn shipments through February to force growers to sell to the local livestock industry. The idea is to suppress feed costs and, in turn, prices of beef, pork, chicken, eggs and milk in a country where inflation is forecast to reach 50% this year.In protest, three of Argentina’s four main farm associations have told members to halt trading between Jan. 11 and Jan. 13, adding to industry unrest as port workers strike over pay. But President Alberto Fernandez is standing firm, saying on radio Wednesday that food prices at home