Plague and Poor Prices: Argentina’s Corn Crisis Threatens Economic Revival

Argentina’s corn farmers face a setback as a leafhopper plague ravages their fields, jeopardizing hopes for a record harvest amid President Javier Milei’s economic revival efforts.

The corn harvest forecast plummeted by 12%, and soybean harvests also face challenges from excessive rainfall. 

Leafhopper attacks spread spiroplasma disease, causing deformities in corn plants and leading to significant yield reductions across the Pampas crop belt.

Following years of drought, analysts anticipate continued cuts to production estimates due to this pest’s widespread impact.

This setback arrives as Argentina seeks to recover from its worst drought in a generation. 

The country relies heavily on farming for economic activity and export revenue. These agricultural challenges exacerbate the impact of already low global crop prices, potentially diminishing export revenues further and posing additional hurdles to President Milei’s plans to open up the economy.

For more information, read the full article on Bloomberg.