March 19, 2008

Argentina announces fertilizer price accord for wheat

Argentine government officials announced a fertilizer price accord that they said will save wheat farmers some US$100 million this year.

The agreement drops the price of domestic fertilizers used for this year's wheat crop by 20 percent. The measure was announced by Agriculture Secretary Javier de Urquiza and the government's price control point man, Domestic Commerce Secretary Guillermo Moreno.

The announcement comes amid an agriculture strike that began last week and which farm groups have threatened to extend into next week. Farm groups are upset with a recent export tax hike for grains and oilseeds.