Argentine farmer’s road blockade over soy tax heading for resolution as food shortage hits capital

In Argentina, a crippling farmer’s strike over soybean tax hikes may be drawing to a close. Striking farmers and the Peronist government have indicated they are ready to negotiate following a series of road blockades that have emptied the capital, Buenos Aires, of beef, bread, pasta and dairy products.

The Peronist government announced in March that they would increase the tax rate on soybeans from 35 percent to 44 percent. The government is struggling to control inflation, which is running at 15 percent. Argentina last year supplied nearly half of the world’s export trade in soybeans.

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