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Argentine grains sector to get $1.7 bln in investment -chamber
BUENOS AIRES, March 20 (Reuters) - Argentina's grains
transportation sector is projected to receive $1.7 billion in
private investment for the 2016-17 period, the country's
CIARA-CEC exporters' chamber said on Monday.
"Companies in the sector began an investment plan last year
that will continue in 2017, aimed at making general logistics
and grains processing more efficient. This is in line with
forecasts of increased farm production," the statement said.
Argentina is the world's top exporter of soymeal livestock
feed, its third biggest supplier of raw soybeans and a major
source of wheat and corn for the international market.
In October, the government said companies that ship grains
from Argentina including Glencore, Cargill and Bunge, would
invest some $1.2 billion over three years to improve
infrastructure in the main port network of Rosario.
Farmers have increased wheat and corn planting thanks to
export tax cuts implemented by President Mauricio Macri, who was
elected in 2015 on an open markets platform. He has promised
incremental cuts in soybean export taxes as well, which is
expected to spur more planting of that crop as well.
(Reporting by Buenos Aires Newsroom; Editing by James
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