Argentine authorities have announced on 12/29/16 that $90 billion in assets had been declared so far under the government’s tax amnesty plan
The government hopes that funds declared under the tax amnesty will help jump-start growth and investments in the country.
Argentines are thought to have more than $400 billion in undeclared overseas assets. Under the tax amnesty program, they have until Dec. 31 to declare those assets while paying a 10 percent fine to protect themselves from prosecution for tax evasion.
They can still declare until March 31, though the penalty for non-real estate assets will jump to 15 percent. Billions more are expected to be declared, particularly in properties, for which a 5 percent fine would remain unchanged.
So far, the government has collected 82 billion pesos ($5.27 billion) in fees paid by those who declared assets in the tax amnesty.
Situation/weather: As previously indicated, we decided to replant pasture in lots that have been prior subdivided into smaller plots in terms of size in order to have a better control of the natural vegetation and enhance ultimately beef production.
Below you can see the new fences installed for this purpose in lot n°18 (400 has – lot originally planned to be dedicated to crops activities) which is now subdivided into 2 lots of 200 has.
As you can see on the pictures, pastures are developing well thanks to the rainfalls registered in October and November which favored the growth of grass, both in quality and in quantity.
Recently sowed lots n°10, 11 and 12 are showing emergent plants. The development of those pastures will depend on rainfalls otherwise the plants will bleach due to the high temperatures registered in the region which oscillate between 24°c to 41°c. On top, the thermal sensation that can reach over 45°c.
Cattle operation: To mitigate lack of rainfall which imply also lower level of pasture, it is necessary to give supplementation to heifers that will receive artificial service next year.
A relatively dry winter: Cumulative rainfall for July-November period was 419 mm, -21% compared with the historical average for the same period. So far, no rainfall has been registered in December.
Cattle operation (total herd 2,530 heads): Since September, breeding cows are recovering a good shape as they are fed with ryegrass and third year prairies. Males and females rearing have reached a daily weight gain of 500 grams – which is good. Those animals of lees than 1 year old are in very good weight and body conditions.
Winter crop: Harvest of barley is completed (228 ha), we registered a yield of 3.5 tons/ha as budgeted.
Soybean #1: 484 hectares have been sowed and the crop is developing well so far (growing stage). Expected yield of 2.8 ton/ha.
Soybean #2 : the crop was sowed on the surface previously used for barley. We expect a good development for this crop.
Corn: 436 hectares of corn are in sowing progress. Expected yield of 5.5 ton/ha.
Rice cultivation: The average sowing period took place during the optimum date for the crops (from September 13 to October 15).
October and November were months of vegetative development of the crop. During those months, our region has register lower temperatures lower than normal. Due to this factor, we could observe that rice plants are less developed as they should be.
December is the month of definition of yield potential, subject to how temperatures and solar radiation behave.
There are no rainfall deficits or low river level observed so far, and our artificial lake has enough water reserve until beginning of January.
We estimate that harvest will start this year by January 20, 2017.
Soybean cultivation (test campaign for diversification purposes): The crop has been planted during the optimal period (end of September).
October and November were months of heavy rainfall (we record 304 mm and 185 mm accumulated water during those months). Excess water is hurting this crop development, in opposition with rice, so as lower temperatures affects development and optimum growth.
Good soil drainage is a priority for this crop, as it is surrounded by plots of irrigated rice, where the sub-surface layer is high. So we registered some flooding situation in some sectors planted with soy. Those area of crops are lost – 10 to 15 hectares of cultivated area.
In December, we need to register high temperatures and no heavy rainfalls events. It is key for a good development of the plants as they will be in their reproductive period (definition of yield).
Cattle operation (4 250 heads): Autumn service was complicated as natural pastures were affected by heavy rainfall and floods of the river which had originated in its Brazilian border. Heifers body condition before service was not the best which lead to a lower pregnancy rate than expected. Weather conditions improved since and meadows have recovery their forage production, improving general conditions of the cattle. Rearing heifers and steers are been fed with corn and soybean supplementation.
Agriculture activities: We finally decided not to sow corn as planned (304 has budgeted) and return to a more stable crop rotation : soybean / soybean – Pasture on the plots with the highest AG potential in order to improve forage resources and quality for cattle operation.
Soybean: So far, we are facing a very dry period which lead us to interrupt seeding process some days. Today, 330 hectares of soybean has been sowed, around 40% of the plan.
Rice: was sowed during the optimal period (323 has planted vs 328 has budgeted) and irrigation of the fields will start in November.
In addition, some new internal roads have been developed in-house to allow better services and manoeuvres for our operations.