Argentina introduces new subsidy for packers
According to reports, the Argentinean government has pledged to help the country’s struggling meat packers.
It will offer a grant worth 60 hours of work per employee for a period of six months for firms that are struggling to stay in the market because of low cattle levels and restrictions on meat exports.
To qualify, the companies must guarantee 140 hours of paid employment per worker each month, to which the government will fund a further 60 hours’ worth of wages. The minimum hourly wage is 12.60 pesos ($3.21).