27 March 2008 16:01 [Source: ICIS news]
LONDON (ICIS news)--A strike by local farmers opposing the Argentine government’s decision to raise export taxes on soybeans to 44% is suppressing demand for imported phosphate fertilizers, producers and traders said on Thursday.
It was estimated that up to 10m tonnes of corn and soya exports could be delayed as a result, in turn disrupting shipping logistics leading to delays in fertilizer importation from ?xml:namespace>
Fertilizer traders and producers withdrew offers from the Argentine market this week.
However, the overall effect was expected to be shortlived, sources said.
“It won’t have any real effect long-term,” said one major
“Every time a government meddles in the agricultural economy it spells trouble,” the producer said. However, he added that, “the fundamentals in the oil and grain seeds markets are incredibly strong.”
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