Economy Minister, Sergio Massa, availed himself of the appropriate venue of the Vendimia wine festival to announce a “dollar Malbec” as from April (with its exact peso value yet to be defined) as the precursor of other exchange rate breaks for regional economies. He also had further good news for the wine sector – the United States has lifted all restrictions on the import of Argentine grape must or mash. The drought hitting grain harvests so hard has not spared wine production either with its volume estimated to be 21 percent down on the previous season. Massa announced 583 million pesos of support for the sector within the subsidised credit lines of 10 billion pesos for farming as a whole.
SOURCE: www.batimes.com.ar