Argentine soy giant Vicentin suspends crushing amid debt crisis

Argentine soy crushing giant Vicentin has halted most of its operations in its owned processing plants as the company battles to restructure its debt after defaulting earlier this month. Vicentin has around $350 million in outstanding payments to suppliers, while financing deals with local and international banks add up to well over $1 billion. The production issues threaten to ripple through global markets and hit domestic supply of edible oils.

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Source: Reuters

Categories: Business