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LatinNews Regional Monitor: Brazil & Southern Cone - 17 January 2019

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In brief: Argentina

* The Confederación Intercooperativa Agropecuaria Limitida (Coninagro), an Argentine agricultural producers' association, has calculated that the torrential rain and flooding that has hit Argentina’s central and north-western provinces in recent weeks will produce some US$2.2bn in economic losses to agricultural producers in the area. A Coninagro report based on the data provided by the Argentine cereal stock exchange says that some 2.4m hectares of agricultural lands, mostly used to produce soybeans, have been significantly affected by the rains. The situation has led the provincial government in Santa Fe province, one of the worst affected, to declare an emergency in the agricultural sector, which would give those affected recourse to financial assistance. Meanwhile the federal agro-industry secretary, Luis Miguel Etchevehere, has announced that the central government is now also considering offering its own financial assistance via tax breaks and credit lines.