Argy Meeting Latest

News from the three hour meeting yesterday between Argy farm group leaders and the government is that some concessions were offered by the government in relation to milk and beef. Another meeting has been scheduled for next week.

The thorny issue of the soybean tax wasn't even discussed at this meeting it would seem. As that accounts for around 10% of all tax income received by the government they aren't going to want to give it up lightly. Especially not in the current economic climate, given the already precarious state of Argentine finances.

The Argy Production Minister Debora Giorgi ratified President Cristina Fernandez de Kirchner position that the controversial export taxes on soybeans, sunflower, wheat and corn remain at their current level. The simple truth is that they can't afford to do otherwise.

"It was a beginning; we’re not satisfied but what is important is that we are looking ahead and not backwards", said the president of the Argentine Rural Society, Hugo Biolcati.

Militant Argentine farmers ended the occupation of a bank branch in Entre Rios Province ahead of the meeting. The farmers had refused to leave the bank since Monday afternoon, demanding an explanation for steep hikes in variable interest rates charged on loans.

Anyone getting deja vu?