In the Argentine town of Ciguena, rancher Andrés Betiger is fighting to keep his farm from going under amid the South American country's worst drought in sixty years, which has pummeled soy, corn and wheat crops and dented cattle herds.
This in turn hits Argentina's ability to build up much-needed reserves of dollars, threatening to derail a fragile economic revival and leave the government unable to meet debt repayments amid spiraling inflation and a deep fiscal deficit.
"There are more reasons to be pessimistic and think that the numbers are going to continue to collapse," Russo said, adding that in terms of the harvest it was shaping up as the worst in 20 years. "You hear the calves bleat until they die. It's terrible," the 63-year-old told Reuters at his farm, where the water reservoirs he had dug are all dried up, forcing him to bring what little water he can in by truck.
The economic hit of the drought to producers, meanwhile, could be around $10.5 billion, said Julio Calzada, head of economic research at the Rosario exchange, mainly due to a decline in exports.
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