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Impact of Argentina's worst drought in years to economy and people

The worst drought in years has raised concerns among farmers, government official and experts.


Devdiscourse News Desk
Updated: 03-04-2018 10:10 IST
Impact of Argentina's worst drought in years to economy and people

Argentina is world’s largest supplier of Soy oil and meal. (Image Credit: Wikimedia)

Argentina's drought, which began in November, has caused and continue to cause huge loses to the economy.

The worst drought in years has raised concerns among farmers, government official and experts. Argentina is world's third largest exporter of soybean and corn which are hugely compromised because of the drought.

Aside from the obvious loss of grain yield, the quality of crops that do cultivate is going seriously down affecting the final price.

The country has estimated that this year's soy crop would boost the country's economy to 3.5 percent but the drought had other plans which brought down the yield to the worst in a decade.

Counting only the value of grain exports could lead to the loss of USD 3.4 billion to the economy, according to the recent estimate by Buenos Aires Grain Exchange but it is expected to rise when other related industries are taken into account.

One-third of Argentina's exports come from Soy products. It is obvious when Argentina is world's largest supplier of Soy oil and meal.

COUNTRY : Argentina