Argentina has once again been among the worst places in the world to attract investment: between 2019 and 2020 it was one of the countries that dropped most in the Global Attraction Index (GAI) that The European House Ambrosetti carries out every year. According to the GAI, from 144 positions, the country fell from 73rd … Continue reading Argentina is among the worst places in the world to attract investment
During July, China was again Argentina's leading trading partner, the Asian country's market represented 11.3% of total exports of national products and 21.9% of imports. The principal shipments were soybeans, frozen boneless beef, and animal or vegetable fats and oils. Local shipments amounted to $553m in July (-14.3% y-o-y), while Chinese goods purchases reached $751m (-20.4% y-o-y).
The satellite will have three strategic applications: fertilizaron, fusarium (a disease that affects wheat) and early flood warnings. It will yield benefits of between 4.5 and 6.5 billion pesos ($61 to 88 mn) annually. Eight hundred Argentine scientists. More than ten years of development, and $600 million invested in one of the most ambitious projects in Latin American satellite history. SAOCOM 1B (Argentine Microwave Observation System) was sent into space to become the eyes of the Argentines in the sky. It will be in charge of observing the earth and scanning it.
In recent days, images of fires throughout the country have affected the collective sensibility of an environmental catastrophe. It is not a temporary situation, but the consequence of a long process whose causes (economic, climatic, political, social) has led to the deforestation of 6.5 million hectares in the last two decades. Argentina is one of the ten countries with the most significant net loss of forests. According to satellite monitoring by Greenpeace, 21,275 hectares of native forests deforested between March 15 and June 30, 2020. In the case of Cordoba, more than 14,000 hectares were affected by the impact of fire - 95% intentionally - and the vast majority were the result of burning to expand agricultural and livestock activity and monoculture.
In Corrientes, rural fires have not stopped and have already destroyed 700,000 hectares and caused losses of close to ten million dollars, according to the government of Gustavo Valdés.
A total of 1,075 Fintech companies from Brazil, Mexico, Argentina, Colombia and Chile were raised with $8,092.2 million in funds by 2020, according to KoreFusion. From there, three main categories stand out: Payments, Loans and Digital Banks, which concentrate more than 95% of the financing. Brazil is the country that accounts for most of the investment, representing almost 77% ($6.2 billion) of the total. It is followed by Mexico with 16% ($1.3 billion), followed by Argentina with 3.6% ($295.9 million), Colombia with 3.5% ($284.5 million) and Chile with 0.1% ($11.8 million).
Next Friday, the Argentine Microwave Observation Satellite (Saocom) 1B will be launched from the Cape Canaveral Space Center, United States. The development of the Saocom Mission demanded 17 years of work, more than 80 technological companies and about 800 specialists in different branches of engineering, physics, mathematics and computer science participated. The satellite will obtain and broadcast perfect quality images and information about the soil water levels, which is essential for agriculture, and will also provide information about the presence of ships in areas under Argentine jurisdiction.
In addition to the health crisis, there is now a delicate environmental situation. Nine provinces already register forest fires and fear that the outbreaks will multiply in other parts of Argentina. Among the causes that prevent the control of the flames are the intense drought resulting from the lack of rain, the high temperatures for the time of year, the wind and human action.
The European Union decided to suspend imports of citrus fruits from Argentina because a disease called black spot found in the merchandise sent from Tucumán and Jujuy. Up to now, 129,000 tonnes of citrus exported, representing around 85% of the total forecast. Imports of citrus from Argentina into the EU in 2019 totalled 166,843 tonnes for 155 million Euros. This year, with the pandemic, orange consumption increased sharply, and because of this, international prices also rose. Considering that the products affected by the ban represent 99% of the imports of the European block, a protectionist measure expected. Perhaps this is the real reason for the decision taken.
Corn, wheat and soybean prices rose sharply in Chicago on Monday, driven by signs of strong demand and weather damage to crops in the U.S. Midwest that could affect supply. Wheat climbed 3.1% to $189.79 per ton; corn ended up 1.9% at $130.21. And soybean gained 1.6% to $335.02.