Case study

International Marketing: Argentina

GEO-POLITICAL ANALYSIS

I. Introduction

With its wealth of natural and human resources, Argentina possesses great potential for economic development. Its large and fertile plains are among the world's richest agricultural areas. The manufacturing and processing industries are well-developed and often employ modern technology to produce a wide variety of products of high quality. The country is nearly self-sufficient in energy. The labor force is relatively sophisticated and Argentina's inhabitants enjoy a health level comparing favorably with man y industrialized countries. Its economy has gradually shifted from an exclusive dependence on the large-scale production of livestock and agricultural goods to one in which the industrial and service sectors are now dominant. Since the 1950s, it has been o ne of the world's principal trading nations.

II. Brief Discussion of Country's Relevant History

Nomadic Indians were present before the Spanish arrival in 1515. In 1810 the population rose against the Spanish Government. Argentina declared its independence and decades of anarchy followed. With the new and still present constitution in 1853, a strong, stable central government formed. In 1946 Juan Peròn was elected president and during his 9 years in power, he established a virtually tolitarian regime. Peròn's policies of rapid industrial expansion and increased social benefits led, however, to social and economic problems. Even after the Military deposed him in 1955, Peròn continued to be a force in Argentine politics. Then, after 18 years of exile, Peròn was again elected president in 1973 but died after ten months. His third wife, Isabel, continued h is policy as president but was overthrown by the armed forces in 1976. The military then conducted a ruthless purge against the leftist guerillas in which thousands of persons disappeared. The economic situation worsened. After five decades of military int ervention and political instability, Raùl Alfonsìn, a civilian president was elected president in 1983. He tried to build a stabile democracy but he couldn't reach his goals. Since Carlos Saùl Menem was elected president in 1989 the state is becoming more and more stable and Menem's policy was honored with his re-election in 1985. (Background Notes, 1994; Encyclopedia of the Nations, 1995; Europa World Year Book, 1996; PC-Globe, 1992)

III. Geographical Settings

A. Location

Argentina is with its total area of 1,068,302 square miles (about the size of the U.S. east of the Mississipi River) the second largest country in Latin America and occupies most of the southern portion of the American continent. It is bordered by five cou ntries - Chile to the east (with whom it shares the island of Tierra Del Fuego), Bolivia and Paraguay to the north, and Brazil and Uruguay to the northeast. On its east and south, Argentina has an extensive Atlantic coastline. Its north-south lenght is abo ut 2,270 miles, and its greatest width is about 890 miles.

Argentina lays claim to a section of Antarctica of about 477,000 sq miles. Both Argentina and the UK claim the Falkland Islands (Islas Malvinas), with the UK exercising effective occupancy. (Worldmark Encyclopedia of the Nations, 1995; PC-Globe, 1992)

B. Climate

Most of Argentina has a temperate climate, although there is considerable variation. The extreme heat of the northern Chaco, which has an annual mean temperature of 113 degree F, and the high humidity of the northeast (85%-90% during the winter) are gradu ally ameliorated toward the central Pampas, which enjoys an annual mean temperature of 60 degree F and humidity of 76%. Farther south, the cool, windy, and dry climate of Patagonia turns into glacial cold at higher altitudes in the Andes.

In the northern two-thirds of the country, winter (May to August) is the driest period of the year. Rainfall diminishes from east to west and toward the south, with about 80 inches a year in Misiones, 37 in in Buenes Aires and 30 in in the Chaco. Annual p recipitation is less than 10 inches in Patagonia, and only 2 inches in the far west and the northwest of the country. (Worldmark Encyclopedia of the Nations, 1995)

C. Topography

Argentina is primarily a country of lowlands, although the Andes, which occupies its western periphery, rises to an elevation of 22,834 ft in the peak of Aconcagua, the highest point in the Western Hemisphere. Overall, the country is be divided into four t opographical regions: The Pampas, Patagonia, the Andes and their foothills, and the northeast.

Approximately one-fourth of the total area is given to the flat, fertile Pampas of east and central Argentina. This region is subdivided into the eastern, humid Pampas, and the dry Pampas to the west. To the south of the Pampas, south of the Rio Colorado, lies Patagonia, whose arid, windy plateaus are cut by an occasional ravine. The Andean and plateau region in the western part of the country includes most of the ranges, or cordilleras, of the Andes (low and glaciated to the south, high and arid to the no rth) the hills of the Sierra de Còrdoba, and the desert and mountains of the old colonial region in the northwest. The northeast region of Argentina, one-fifth of the country's area, comprises the forested plains of the Chaco, the subtropical zones of Misi ones, and the foodplains and gently rolling land known as Mesopotamia or Entre Rios, which lies between the Paranà and Uruguay rivers.

The soils of the Pampas are among the richest in the world and consist of a deep accumulation of loose, windblown materials (Loess), resting upon granite and other ancient crystalline rock, entirely free of stones. The country's less productive soils rang e from laterite in the north to desert sands and sierozems in the west and south.

Argentina has a varied base of mineral deposits, but most are small and are in remote regions of the Andes or Patagonia. Petroleum is the only mineral produced in a substantial quantity and over 23 million U.S. tons are extracted each year, making Argenti na nearly self-sufficient in liquid fuels. (Worldmark Encyclopedia of the Nations, 1995)

D. Transportation

1. Modes

Argentina has the most extensive transportation system in Latin America. It has the largest railway system in South America, with 21,234 miles of track. Although railroads link all the provinces, the three provinces of Buenos Aires, Còrdoba, and Santa Fe c ontain about one-half of the total track and are the destinations of about two-thirds of all other lines belonging to the state and are administered by Argentine Railways. The 215,578 km of roads are used to carry a large percentage of the freight and pass enger traffic, with Buenos Aires the focus of the transport network. Four branches of the Pan-American highway run from Buenos Aires to the borders of Chile, Bolivia, Paraguay and Brazil. There are more than 100 ports for shipping, of which the most import ant are Buenos Aires, Quequèn, Rosario and Bahìa Blanca. There is considerable traffic in coastel and river shipping, mainly carrying petroleum and its derivates. Civil aviation carries passengers, mail and freight. Argentina has 10 international airports, while Ezeiza, 35 km from Buenos Aires, is one of the most important air terminals in Latin America. Passengers, mail and freight are carried. (Europa World Year Book, 1996)

2. Availability

Please see table in Appendices.

F. Communication System

1. Types

Beside the 72 state-controlled radio-stations there are 3 privateley-owned in Buenos Aires and 72 in the interior. In addition there are 4 television channels in the federal capital of Buenos Aires, 26 in the province of Buenos Aires, 41 in the interior an d 117 relay stations. 32 television channels are private, 10 are state-supervised and two are university channels. The national networks are controlled by the Ministry of Education and Culture.

ENTEL, the state-owned national telephone company, has renovated Argentina's outdated telephone system into a modern automated system. Major projects include the Buenos Aires digital belt system, installation of a satellite communication network (INTELSAT ) for remote areas, radio linkage systems for rural radio/telephone subscribers, enlargement of national and international telex facilities, installation of an underwater telephone cable connecting South America with Africa and Europe. (Europa World Year B ook, 1996)

2. Availability

Please see table in Appendices.

IV. Population

A. Total

After Brazil and Mexico, Argentina is the third most populous country in Latin America containing about 7% of that region's total population with 34,180,000 inhabitants (1994 official estimated). The projected population for the year 2000 is 36,238,000, as suming a net natural increase of 11.2%, a crude birth rate of 19.8 per 1,000 population, and a crude death rate of 8.6 during the years 1995-2000. The infant mortality rate is 0.21 per 1,000 births. (The World Factbook, 1994; Worldmark Encyclopedia of the Nations, 1995)

B. Distribution of Population

1. Age

Age 0-9 10-19 20-29 30-39 40-49 50-59 60-69 >70

Male % 11.1 8.7 7.6 6.8 5.3 4.6 3.3 2.3

Female % 10.8 8.4 7.4 6.6 5.3 4.8 3.8 3.2

PC-Globe, 1992

2. Gender

The Life expectancy at birth is 68.06 years for men, 74.81 years for women, and 74.81 years for the total population. (The World Factbook, 1994)

3. Geographic Areas

Argentina ranks above the United States as one of the most extensively urbanized countries in the Western Hemisphere. 85% of the population lives in urban, 15% in rural areas. However, the overall population density is, with 12.4 persons per sq km one of t he lowest in Latin America and less than one-third the world average.

4.Immigration/Emigration Rates

The net migration rate is 0.21 migrants per 1,000 population. Migration to Argentina has been heavy in the past, especially from Spain and Italy. Under the rule of Juan Domingo Peròn, immigration was restricted to white persons, exceptions being made for r elatives of nonwhites already resident. More recently, hundred of thousands immigrants from across the border in Paraguay, Bolivia, Chile, Uruguay, and Brazil immigrated into the country. Foreigners, on application, may become Argentine citizens after two years' residence. Few Argentines emigrated until the 1970s, when a "brain drain" of professionals and technicians began to develop. In the mid-1980s, some 10,000 of the estimated 60,000 to 80,000 political exiles returned home. (Worldmark Encyclopedia of t he Nations, 1995)

5. Ethnic Groups

85% are European (mostly Spanish and Italian), 15% Mestìzo (mixed Indian and European), Indian or others. Blacks were originally brought in as slaves but as a separate racial group have virtually dissapeared. (Almanac, Current World Leaders, 1996; Europa W orld Year Book, 1996)

V. Polity and Regulation

A. Political Systems

1. Political Structure

Legislative power is vested in the Congress, comprising the Chamber of Deputies and the Senate. The Chamber of Deputies has 257 directly elected members, chosen for four years and eligible for re-election: Approximately one-half of the membership of the Ch amber shall be renewed every two years. The Senate has 48 members, chosen by provincial legislatures for nine-year term, with one-third of the seats being renewed every three years.

Executive power is vested in the President (Carlos Saùl Menem of the Partido Justicialista, took office 8 July 1989, re-elected 14 May 1995), who is the supreme head of the nation and controls the general administration of the country. He issues the instr uctions and rulings necessary for the execution of the laws of the country, and himself takes part in drawing up and promulgating those laws. (Worldmark Encyclopedia of the Nations, 1995; Europa World Year Book, 1996)

2. Political Parties

The three most important parties are the Partido Justicialista with 137 seats, the Uniòn Cìvica Radical with 69 seats, and the Frente del Paìs Solidario with 26 of the 257 seats in the Congress. (PC Globe, 1992; Europa World Year Book, 1996)

3. Stability of Government

As I mentioned in II, the Government gets more and more stable. However, corruption is still a big problem. According to a ranking of Transparency International and Goettingen University in 1996 about the corruption of the 54 most important trade-countries , Argentina is in 35th place. That means that the corruption is well above the world-average. (www.gwdg.de/~uwvw/histor.htm, 1996)

4. Special Taxes

The value added tax (sales tax) is 21% on Argentina's products, which is relatively high. (Perez, 1996)

5. Role of Local Government

The 22 provinces, the Federal District of Buenos Aires and the National Territory of Tierra Fuego retain all the power not delegated to the Federal Government. They are governed by their own institutions and elect their own governors, legislators and offic ials. (Europa World Year Book, 1996)

B. Legal System

1. Organization of Judiciary System

Justice is administered by both federal and provincial courts. The Supreme Court, which supervises and regulates all other federal courts, is composed of nine members nominated by the president, with the agreement of at least two-third of the Senate. The f ederal courts may not decide political questions. Judges of the lower courts are appointed by the president. In practice, there is not a truly independent judiciary. The courts lack power to enforce orders against the executive and federal judges who activ ely pursue charges of police or military coruption. (Europa Wold Year Book, 1996)

2. Code Law

The Legal System is a mixture of US and West European legal systems. In general, Argentine law has a Roman basis; compiled into one comprehensive code in 1680, it was subjected within a few decades to numerous and important alterations up to 1 May 1853, wh en today's constitution was set. (Historical Dictionary of Argentina, 1978; Worldmark Encyclopedia of the nations, 1995)

3. Participation in Patents, Trademarks, & other Conventions

Argentina is a member of AG, BCIE, CCC, ECLAC, FAO, G-6, G-11, G-15, G-19, G-24, AfDB, G-77, GATT, IADB, IAEA, IBRD, ICAO, ICC, ICFTU, IDA, IFAD, IFC, ILO, IMF, IMO, INMARSAT, INTELSAT, INTERPOL, IOC, IOM, ISO, ITU, LAES, LAIA, LORCS, MERCOSUR, MINURSO, MT CR, OAS, PCA, RG, UN, UNAVEM II, UNCTAD, UNESCO, UNHCR, UNIDO, UNIKOM, UNOMOZ, UNOSOM, UNPROFOR, UNTAC, UNTSO, UPU, WCL, WFTU, WHO, WIPO, WMO, WTO. (The World Factbook, 1994)

C. Working Conditions

1. Employer-Employee Relations

The relationship between employers and employees is under immense tension. Just recently there are hard fights between unions and employees to save working places and to maintain existing laws for employment. To face increasing competition within the Merco sur many employers slim their workforce. Meanwhile, the government has been privatising, which means more slimming, and cutting its own workforce where it can. The joint result is high unemployment. President Menem tries to encourage employment in the slug gish economy by making the labor markets more flexible. The unions reject his belief that making workers easier to fire will make employers readier to hire in the first place. (The Economist, Argentina.., 1996)

2. Salaries and Benefits

Argentine workers have 12 paid holidays and about two weeks paid vacations. They receive normally a 13th extra salary for christmas. In addition, if a worker gets fired, the employer has to pay for every year of employment one extra salary to the employee. The employers have to pay a certain amount for the workers pension and, according to a new law, health-insurance, too. An employee must be in a union and cannot decide on his own, which union he would like to belong to. Each employee has to pay for their union membership. (Perez, 1996)

SOCIOLOGICAL ANALYSIS

I. Social Institutions

A. Family

Argentina is no different than the other Latin American countries, when it comes to the family. When you talk of family in Argentina, you are not only discussing the nuclear family, but also the extended family. But, this was not always the case. Until just before 1900, emphasis was placed on the nuclear family, due to the many wars during that time. But, since the 1900's began, Argentina has shifted to the extended family, with a "co-residential kinship type society." (Szuchman 209 1990) Unlike many societies, there is no difference in family composition when it comes to different income classes. (Szuchman 209 1990)

Much like family composition, female/male roles have also undergone some changes. Traditionally, Argentina followed the "Latin" pattern, in that the males were dominant over the females. Men operated under the philosophy of machismo, which means that th e men must be superior over females, and also says that there should be competition between the males. This is opposite of the females ideology, that of marianismo, in which they are taught to be submissive, and allowed to have relations only with their husband. (Fry 217 1992)

While these ideologies are still prominent in Argentine society, just recently, a feminism movement has begun. Now, women are becoming more independent and self-motivated, and are becoming more of a part of the traditional machismo culture. (Fry 217 199 2) But, perhaps their biggest motivation behind feminism, is to protect their maternalistic role, and be able to contribute their earnings completely to the care of their children. (Elkin 1854 1996)

B. Education

Argentina's educational system consists of three parts; primary, secondary, and higher education. Argentina is among the leaders in education in Latin America. At each of these levels, Argentina is considered to be one of the best in Latin America. For years, Argentina's government has put a lot of money into educational reform. This seems to have worked, because as of 1985, 95% or more of 6 to 11 year olds were in school. But, problem's continue, because their are high rates of drop-outs and a lot of kids are forced to repeat a year of education. (Collier 364 1992) Argentina is attempting to combat the high number of drop-outs by making the curricula more interesting and relevant to the students.

Argentina's secondary education rates among the best in Latin America, with the highest gross-enrollment ratio in Latin America. At the secondary level, private schooling is becoming popular. (Collier 365 1992)

But, the area with the most impressive numbers for Argentina is in higher education. By far, Argentina has the highest university enrollment rate, at 36.4% in Latin America, and Latin America has the highest university enrollment rate in the developing w orld. (Collier 367 1992) This is most likely due to the money spent for educational reform. As of 1987, 43.5% of Argentina's public expenditures went to higher education. Also, these university students play a big part in campus policy, and also in nat ional politics, when they denounced the actions of the military government in the late 70's and early 80's. (Gale 22 1995)

Due in great part to Argentina's commitment to education, they have the highest literacy rate in Latin America, at 95.3%. (Gale 22 1995)

C. Social Organizations

1. Social Classes

Argentine society is divided into three social classes, an upper, middle, and lower class. While most societies have this same division, Argentina is quite different because the majority of Argentine's enjoy high standards of living. Approximately 50% of Argentine's place themselves in the middle class. (Bremner 2 1994) The upper-class (gente decente), since the beginning of time, has benefited from a law system that protects them from any potential threats from the lower class (gente de pueblo). (Walt er 208 1990)

2. Clubs and Organizations

Argentina's organizations can be divided into 3 categories; agricultural, business and industrial, and social and cultural.

The main agricultural organization of Argentina is the Argentine Rural Society. Their members consist of owners of large ranches, who are concerned with promoting ranching and protecting the ranchers rights. This organization is credited with transformi ng the cattle industry into one of Argentine's chief exports. (Lewis 166 1995)

Industrial and business leaders belong to the Argentine Industrial Union, which was created through a merger of the Argentine Industrial Confederation and the General Confederation of Industry. (Gale 23 1995)

Finally, social organizations account for the majority of clubs and organizations. Many of these clubs developed from popular recreational activities, including; The Athletic and Fencing Club, the Jockey Club, along with several yacht clubs. In additio n to recreational clubs, they also have intellectual clubs, with the biggest of these being the Argentine Writers' Society. (Gale 23 1995)

3. Race, Ethnicity and Subcultures

An overwhelmingly large majority, 90% or more, are of European origin, mostly from Spain and Italy. Of the remaining 10%, 8% is Mestizo (mixed), combining both American Indian and European, and the other 2% being pure American Indian. (Bremner 2 1994) T he number of pure American Indians continues to increase, with the majority of them coming from Bolivia and Paraguay. The native Indian population, which numbers approximately 50,000 are located primarily in the north.

D. Business Customs and Practices

No information available.

II. Humans and the Universe

A. Belief Systems

Argentina is a Catholic Nation, and operates under Roman Catholic beliefs. According to the Roman Catholic Church, they consider themselves the only legitimate inheritor, with powers conferred by Jesus Christ or the 12 apostles. As a Christian, they ackn owledge the supreme authority of the pope, in matters of faith. In matters of church-state relations, they believe they should be separate, with dual authority.

B. The Church

The Argentine Republic has been a Catholic country ever since the Spanish Conquest. The Roman-Catholic Church is supported by the government of Argentina, with both the president and vice-president required to be Catholics. Freedom of worship has long be en granted and practiced, with the Catholic Church having little or no involvement with public education or in politics. (Nekhom 184 1978)

In Argentina, it is believed that religious freedom grew out of the Patronato Real (Royal Patronage), and old Spanish doctrine. In addition, it allowed for the creation of a dioceses. (Nekhom 805 1978) Also, the 1853 Constitution stated that the Church should be supported by the government, and that the president and vice-president be Roman Catholic. According to Roman-Catholic doctrine, the Pope is the head of the Roman-Catholic Church, with the cardinal directly below him. Next, is the dioceses and archdioceses, with the clergy being at the bottom.

As was mentioned earlier, a great majority of the Argentine population is Roman-Catholic. Ninety-two percent of the people are nominally Roman-Catholic, with approximately less than 20% actually practicing. Of the remaining population, 2% is Protestant, 2% is Jewish, and the remaining 4% belongs to various other religions or stated no preference. (Bremner 2 1994) As of 1990, the Jewish population in Argentina numbered approximately 215,000, and represents the third largest concentration of Jews in the America's. (Gale 9 1995)

C. Aesthetics

1. Visual Arts

Many of Argentina's past art treasures deal with Argentina's rich heritage, with many pieces influenced by the "gauchos de Argentina" (Cowboys of Argentina). The paintings included the gauchos themselves, along with paintings of the plains and villages o f the gauchos. In addition, a popular subject for paintings is the conquest of Mexico, some 400 years ago. (Gale 22 1995) Although both of these areas continue to be used in modern art, today's Argentine painters, for the most part, stay away from Arge ntine heritage, and tend to be influenced more by Western Europe and the United States. (Bremner 2 1994)

The National Museum of Fine Arts in Buenos Aires contains all types of Argentine art, including paintings from the past, and modern day works of art. (Gale 22 1995) In addition to art museums, Argentina is noted for its historical museums. The Natural History Museum of the University of La Plata is known world-wide for its collection of skeletons of extinct pre-Pliocene reptiles. (Gale 22 1995)

2. Music

Latin American music is unique in that its song texts sever as a means for political and social comment, and often reveals that specific cultures attitudes and beliefs. For Argentina, it is the tango. While man people think of tango in the way of dance, tango music became very popular. 1920 to 1950 is considered to be the "golden age" of tango, and during this time, there was an unbelievable increase in the numbers of highly professional bands and distinguished singers. The most recognized tango musicia n and singer was Carlos Gardel, who is considered to be the biggest figure in the history of tango. (Blakemore 408 1992) But, with the 1950's, came the popularity of Argentine folk music, along wit international pop music, which weakened the popularity o f the tango. (Blakemore 408 1992) But, tango music continues to be heard in Argentina, and will continue t be a mainstay in Argentina.

3. Theater

Much like Argentine art, the theater is also influenced by the Europeans. In the early 1900's, the theater performances dealt mostly with the Spanish-American reality. (Blakemore 438 1992) During this time, Buenos Aires was considered to be the center o f dramatic activity. Today, while not the center of theater, Buenos Aires continues to play a major role in the theater of Latin America. Today, many of the plays deal with political and social aspects, and also with popular collective theater, which dea ls with such areas as farming and land.

4. Folklore and Relevant Symbols

For many, the tango is seen as the most distinguishing symbol of Argentina's vast history. As mentioned earlier, it served as a means for political and social comment, and conveyed the beliefs and attitudes of the Argentine people. In addition, the tango is the primary symbol of Argentina, because of its popularity around the world, which brought Argentina into the front of peoples mind.

But perhaps the biggest folklore of Argentina revolves around "Los gauchos." The legend of Pecos Bill is legend in Argentina. Pecos Bill was a legendary cowboy, who is said to have taught the cowboys (Los gauchos) everything they know, including songs a nd oaths. In addition to this, it is believed that Pecos Bill dug the Rio-Grande, invented the six-shooter, and the Western movies. (Kurath 850 1972)

III. Living Conditions

A. Diet and Nutrition

In Argentina, beef is a way of life. It is estimated that Argentina is the second largest consumer of beef in the world, preceded by the United States. But, Argentina only has a population of 33 million people, while the United States has 230 Million peo ple. Thus, the amount of beef per person for Argentina is much larger than that of the United States. (www.middlebury.edu/~leparc/htm/argent2.htm 1995) The average Argentine downs 190 pounds per year, which is approximately two-and-a-half times than the average person in North American, who consumes 78 pounds per year. (Snyder 30 1996) Since the beginning of the twentieth century, when the average Argentine consumed 250 pounds per year, beef has been the staple and the primary protein of the Argentine diet. (Snyder 30 1996)

A typical meal, of course, consists of beef. In addition to the beef, Argentine's enjoy mate, an herbal tea, which was made popular by the gauchos. When the Argentine's are not eating beef, they enjoy tofu.

B. Housing

Houses in Argentina are similar to Italian and Spanish houses, due to the Italian and Spanish backgrounds of the population. In the past, Argentina was consumed by shantytowns. But in the late 1960's, the Ministry of Social Welfare instituted a program t o eliminate shantytowns, mostly because wood is less durable and is a fire hazard. Now, concrete, mortar, and brick are the preferred construction materials. (Gale 22 1995)

Great attention has been paid by the government, to provide low-cost housing to its citizens. In 1968, the government came up with $50 billion to finance the construction of 20,000 homes, with an additional $200 billion set aside for 100,000 more units. (Gale 22 1995) This program allowed for people to be able to have ownership of their own home. The program was effective until the 1980's, when sources of credit for potential home-buyers nearly vanished. But, the National Housing Fund was established to counteract this problem. The funds are obtained through a 5% payroll tax on employers. (Gale 22 1995)

C. Clothing

The national dress of Argentina was influenced by "Los gauchos." The costume consists of baggy knee-length trousers, which are accordion pleated, called bombachos. Also, there is a chiripa scarf, which is situated around the waist and between the legs. In addition, the outfit always contains high leather boots, and a woolen pauncho (Palmer 45 1995) In addition to being popular among Argentine's, the "gauchos" costume is a popular souvenir for tourist.

D. Recreation and Leisure Activity

Without a doubt, football (soccer) is the number one recreational activity in all of Argentina. The Argentine's soccer team won the World Cup, which they hosted, in 1978. This only added to the already immense love the Argentine's had for football (socce r).

Another popular recreational activity in Argentina is gambling. Argentine's are able to gamble in a weekly lottery, football pools, and horse racing. Argentine's are able to watch and bet on horses at the Palermo and San Isidro tracks in Buenos Aires. (Gale 23 1995)

VII. Language

Due to the large proportion of different ethnic groups, there are a large number of languages spoken in Argentina. The official language of Argentina is Spanish.

English is quickly becoming the second language of Argentina, especially in the business sector and in metropolitan Buenos Aires. Also, certain sectors of Argentina have Italians and Germans speaking their native language. In addition, some American Ind ian languages are spoken in the Pampas. (Gale 8 1995)

ECONOMIC ANALYSIS

I. Background Statistics

A. Gross Domestic Product

1. Total

Argentina has a Gross Domestic Product of $295.7 billion. (www.cdci.gov/cia, 1996)

2. Rate of growth

In 1995, Argentina experienced a Gross Domestic growth rate of 1.0%. (www.cdci, 1996)

B. Per Capita Income

Argentina's per capita income is $8,547. (www.cdci, 1996)

C. Average Family Income

No information available.

D. Distribution of Wealth

No information available.

E. Principal Industries

1. Ratio of Public/Private Ownership

In the agricultural sector, about half of all farms are privately owned and the rest are mostly I corporate cooperative, state, or institutional ownership. Relatively few tenant farms exist today.

Under privatization programs, more telephone and oil companies are sold to private investors that created a pool of private capital and savings. (Forbes 23) Furthermore, about 7% of the trains, planes, phones, utilities, and other services have been pri vatized. (www.nceo.org/world/latinr.html, 1996)

F. Foreign Investment

1. Opportunities and Industries

1a. Telecommunication Equipment

The Argentine Telecommunications equipment market was worth an estimated $1.7 billion in 1993, with a 15% increase over 1992. The United States held the largest import market share with $193.2 million. (Big Emerging Markets 59 1996)

The market for telecommunication equipment grew considerably. In 1990, the privatization of ENTEL, a state-owned national telephone company, has renovated Argentina's outdated telephone system into a modern automated system. This expansion provided a gr eat opportunity for United States manufacturers of telecommunication equipment to compete in the market. Furthermore, the continuing effects of privatization, liberal trade policies, firms' desire for telecommunications equipment, and an expanding local m arket will also increase opportunities for United States Companies. (Big Emerging Markets 59 1996)

1b. Computer Equipment and Software

Argentina's $900 million combined computer and software market is the 24th largest in the world. Sales are expected to grow at 15% average over the next several years. Government purchasing in the past has comprised up to 40% of Argentina's computer mar ket. In recent years, there is an increasing demand from large and medium-size companies, as well as professional and self-employed individuals. The consumer, home and education markets that are now taking off in the United States, are still undeveloped. (Big Emerging Markets 59 1996)

1c. Medical Equipment, Suppliers, and Services

Total market size in 1995 is expected to reach $410 million, an 8.2% annual increase over 1994. Imports are projected to reach $230 million, of which the United States will supply over 43% of the market.

Argentine doctors and distributors are aware of the technological advances in the developed countries, and are highly receptive to new medical equipment. United States firms have a high potential to expand their market share by making early introduction of new medical equipment. (Big Emerging Markets 57 1996)

1d. Transportation (Motor Vehicles and Parts)

Sales of new motor vehicles in Argentina accelerated to 405,000 units in 1993, up from 336,000 in 1992, and 167,000 in 1991. Through July 1994, sales jumped another 60% over the same period for 1993. The significant growth of motor vehicles, is in respon se to the Argentine government's 1991 economic recovery and deregulation. Demand for imported automobiles is growing at a sustained rate. United States car manufacturers, GM, Ford, and Chrysler, are producing models in Argentina which are nearly identica l to those made in the United States or Europe in terms of quality, technology, and style. The best opportunities are in the sales of small vans, convertibles, and moderately priced sedans and station wagons. (Big Emerging Markets 62 1996)

II. International Trade Statistics

A. Major Exports

Total exports in 1994 were $15.7 billion, of which $1.9 million (12%) was to the United States. Other major exporting countries include Brazil, Italy, Japan, and the Netherlands. Meat, wheat, corn, oilseed and manufacturing products are the major exporti ng commodities. (www.cdci, 1996)

1. Dollar Value and Trends (by industry)

a. Agriculture

In 1994, agriculture contributed 15% of the Gross Domestic Product, with a dollar amount of $13.577 million, and employed an estimated 9.4%. (www.cdci, 1996) Argentina's labor force ranks among the world's top dozen producers of wheat, rye, corn, and lin seed. Wheat is the leading crop in Argentina, which accounts for about 64% of all wheat produced in South America, and was the world's fourth-leading wheat exporter. The good health of the agriculture sector will continue. The fertile plain of Pampas wi ll allow the Argentine's to produce agricultural products for the Soviet Union, China, and some countries in South America. (International Marketing Handbook 1988)

b. Manufacturing

Manufacturing contributed 21.8% of the Gross Domestic Product, with a dollar amount of $49.541 million. (www.cdci, 1996) Meat packing and food processing are among the country's major manufacturing industries. As are the production of textiles, cement, automobiles, and machinery. Argentine's meat exports play an essential part in the nations international trade. It accounts for 8% of total exports, with a dollar amount of $748,000. (U.N.International Trade Statistics Yearbook 1994) Argentina's riches t natural resource, the fertile plains of the Pampas will continue to offer year-round pasturage for Argentina's cattle industry.

c. Mining

Argentina has substantial deposits of petroleum and natural gas, as well as steam coal and lignite. It contributed 1.8% of the Gross Domestic Product with $4.067 million, and employed .5% of the labor force. (www.cdci, 1996) In early 1995, preliminary c onstruction work began on the country's largest ever mining project. The Bajo de la Alumkrera open-pit gold and copper mine was expected to be fully operational by 1997. (Big Emerging Markets 53 1996)

B. Major Imports

Total imports in 1994 were $21,4 million, of which $4.7 billion (22%) was from the United States. Argentina's major commodities include electric power equipment, oil and gas field machinery, industrial controls, telecommunication equipment and services, c omputer equipment and software, and transportation. (www.cdci, 1996)

1.-2. Dollar Value and Trends (by industry)

a. Electric Power Equipment

The total market for electric power equipment in Argentina was $384.6 million, of which $36.8 million was imports. (www.cdci, 1996) United States exports to Argentina included parts for steam turbines, generators, water engines, and electric insulators. (Big Emerging Markets 58 1996)

The rescheduling of the Energy Equipment Investment Plan (EEIP) in Argentina, which initially called for a budgeted expenditure of $20 billion for electric power development for the period 1985 - 2000, will have continuous affect on the import of electric power equipment. (Big Emerging Markets 58 1996)

b. Oil and Gas Field Machinery

The total market for oil and gas field machinery was $138 million, of which $77 million were imports. The United States, with $50 million (65% of import market share), was the leading supplier, followed by Brazil and West Germany. These amounts will depr essed reflecting general economic conditions as well as uncertainties about renewing oil contracts between Argentina and private companies. These contracts have recently been renegotiated, and will require significant new investment by the contractors. ( International Marketing Handbook 60 1988)

c. Industrial Controls

United States exporters captured nearly 50% of Argentina's export market for industrial controls, with sales of $3.9 million. Specific products offering the best sales prospects include pressure reducing valves, ball and sphere valves, thermostatic contro ls, and electronic controls for metering and analysis. (International Marketing Handbook 64 1988)

Argentina has been a healthy market for industrial controls during the past several years. United States industrial control has strong acceptance among Argentine buyers, on the back of superior technology.

d. Telecommunication Equipment and Services

(Refer to C, Foreign Investment)

e. Computer Equipment and Software

(Refer to C, Foreign Investment)

f. Transportation

(Refer to C, Foreign Investment)

3. Balance of Payments

In 1994, merchandise exports totaled $15.840 million, and imports $20.076 million. The merchandise trade balance was -4.236 million. However in 1995, Argentina had a trade surplus of $2.239 million, with an exports total of $20.969 million and an imports total of $18.730 million. (International Financial Statistics 1996)

C. Exchange Rates

1. Current Rate of Exchange

1 United States dollar is equivalent to .9988 peso. (November 11, 1996 Wall Street Journal)

2. Trends

Lower inflation rates and expectations in Argentina have enabled the government to maintain a stable exchange rate. The exchange rates in 1994 and 1995 are .99901 and .99870 respectively. (www.mecon.ar, 1996)

D. Trade Restrictions

Tariffs, Duties, and Licensing

Since the middle of 1989, Argentina has removed almost all non tariff barriers, import licensing requirements, and has substantially lowered duty rates. The average tariff has fallen from 22 percent early in 1991, to the current level of 9%, while duties range from zero, to a ceiling of 20%. A tariff of 22 percent is applied to most finished products, intermediate products are taxed at 13%, and raw material enter at the rate of 5%. (www.mecon.ar, 1996) Restrictions also includes specific duties on many textiles and approach, tariffs and quotas on autos and certain paper and paperboard products also remain. The key sectors are computers, communications, and capital goods, will remain fair. All imports are also subject to an additional 3% statistical ta x and the value-added tax increased from 18 to 21%. (www.mecon.ar/invest, 1996)

The MERCOSUR trade agreement will eliminate tariffs on most goods traded among Argentina, Brazil, Paraguay, and Uruguay. The MERCOSUR common external tariff was implemented on January 1, 1995, and covered 85% of the four countries tariff items, and said that most goods traded among member will be duty-free. (www.mecon.ar, 1996)

E. Extent of Economic Activity

1. Countertrades

Countertrade is virtually non-existent in Argentina, with the exception of a few deals with the Communist block countries and the payment arrangements under the bilateral clearing accounts with member countries of the Latin American Integration Association . (International Marketing Handbook 75)

F. Labor Force

1. Size

Argentina has a labor size of $10.9 million, which is divided as 21% agriculture, 31% in industry, and 57% in services. (www.cdci.gov/cia, 1996)

2. Unemployment Rate

In 1978, Argentina has the lowest unemployment rate in Latin America, at 2.2%. However, a recession in the 1980's, rose the unemployment rate to 14%. In 1994, the unemployment rate was 12%. (Big Emerging Markets 54 1996)

G. Inflation Rate

For the period 1985 to 1992, the average inflation rate was 495.7%, resulting in a real growth rate in per capita Gross National Product of 5%. In 1994, Argentina experienced a inflation rate of 3.9%. (Big Emerging Markets 55 1996)

MARKET ANALYSIS

I. Introduction

For the market analysis we chose the beef market which is one of the most important economic goods in Argentina. About 70% of the livestock is cattle, which in 1994 was 50,000,000 animals (FAO, Production Yearbook). Food and live animals are the most impor tant economic sector for exports. Within this sector, meat and meat preparations are the most exported goods with an amount of $1,548,692,000 in 1993 (UN, International Trade Statistics Yearbook). The United States is an important trading partner for beef , with their huge fast-food industry. Furthermore, beef is important to the Argentines: Almost every meal contains meat and especially beef. A life without meat is not imaginable.

II. The Market

A. The Beef Industry

1. Geographic Regions

In Argentina, beef is a way of life. As mentioned earlier, the average Argentine consumes 190 pounds of beef per year. (Snyder 30, 1996) Thus, it comes to no surprise that beef is consumed throughout all of Argentina. But, the majority of beef is eaten in and around Buenos Aires and the Pampas regions. While beef is still consumed in the south, lamb is the food of choice.

In addition to being popular in Argentina, Argentine beef remains one of their top exports. In 1995, Argentina exported 510,869 tons of beef. (www.mecon.ar/invest, 1996) The destinations of their beef exports were, 27% to the United States, 19% to Germ any, 18% to U.K., 17% to Italy, 5% to Israel, with the remaining 2% going to various places. (www.mecon, 1996)

2. Forms of Transportation

The majority of outlets that sell meat, have live cattle transported to their outlets. This allows them to have fresh meat, and eliminate the costs of a middleman. But, there are a few supermarkets who have the livestock taken to a slaughter house, which is then transported to the meat section, and make ready for sale. (Manonkian, 1996)

Some butchers have begun to expand their business by offering delivery of meat to homes. This was first done in an attempt to increase profits, but has begun to decrease, because of the high costs required to deliver the meat. (Manonkian, 1996)

3. Consumer Buying Habits

3.a Product Use Patterns

As mentioned earlier, beef is consumed most days of the week. Argentine's see beef as a way of life, and as a primary source of protein. (Snyder 30, 1996) But, Sunday is the most popular day for consuming meat. Especially during the summer, when barbec uing (ASADA) is extremely popular. (Manonkian, 1996)

3b. Product Feature Preferences

Argentine's enjoy various types of beef products, including steaks, ground-beef, hamburger, stews, pasta sauce, barbecue, and sausages. While some Argentines eat hamburger, it is estimated that approximately only 3% eat hamburger (Perez, 1996). As mentio ned earlier, barbecue is the meal of choice during the summer, and cooking outside on the grill, is becoming popular. During the winter, stew is the meal of choice. Also, no matter what time of year it may be, steak is always popular. Unlike the United States, Argentine's eat all of the meat, including the fat. Also, to nobodies surprise, the type of cuts Argentine's consume is a function of their income level. Obviously, those people who make more money, are able to consume the better, more expensive cuts. For example, the upper class often purchases more tender, better meat, which comes from younger cows. (Manonkian, 1996)

As mentioned earlier, Argentine meat is also consumed overseas. The three major forms of exported meats are: 1.) fresh meat that is canned, frozen or chilled, 2.) cooked meat that is canned, frozen, or chilled and 3.) meat that is dried and salted. ( www.mecon, 1996)

3c. Shopping Habits

Unlike the United States, Argentine people are not on the move as much, thus, they have time to cook, and don't have to store their meat in the freezer. Instead, if they know they are eating beef on Sunday, they will go Sunday morning to get it. This is evident in the fact that supermarkets in Argentina don't store meats in a freezer. Instead of frozen meats, they sell fresh meats. (Manonkian, 1996)

The majority of shopping is done by the women. During the week, the women almost always do the shopping. But, on the weekend, it is very common t see men shopping for meat. But unlike the women, the men will only shop for beef. Also, it is common to h ave both men and women cook the meat, but on the weekend when they barbecue, thus is only done by the men. (Manonkian, 1996)

4. Distribution of Product

4a. Typical Retail Outlets

In Argentina, the majority of people get their meat at the butcher and the supermarket. Both outlets receive live cattle, and butcher them at their store. This way, they are guaranteed to have fresh meat. The butcher is considered to have better busines s in Argentina, but there is very little difference. While both supermarkets and butchers have occasional sales, the butcher, on average, has more sales. The butcher has more personal relationship with its customers. On the other hand, supermarkets will designate one day of the week to have a discount on meat. This day will vary throughout the year, but during the summer, it is almost always on Sunday. The most popular supermarket chain in Argentina is Carrefour (Crossroads), which is a French chain. ( Manonkian, 1996)

4b. Sales By Other Middlepersons

In addition to butchers and supermarkets, there are numerous other middleman who sell meat. In the smaller cities, there are many farmers who raise the cattle themselves, process it and distribute it themselves. These meat products tend to cost less then in the big cities, because these small farm businesses do not have as many regulations to go through as the meat producers in the big cities, like Buenos Aires. While these types of middlemen are uncommon, they are continuing to increase in number. (Mano nkian, 1996)

While there are those middlemen who produce lower costing meat, there are also those who produce the higher quality meat. At the Estancia Los Lilas, they also raise the cattle, produce it, and process it, but they put it in a vacuum sealed package. Of c ourse, they use only the highest quality of cuts. (Manonkian, 1996)

5. Advertising and Promotion

5a. Media Used To Reach Target

Advertising and promotion are not commonly used by the beef industry in Argentina. Argentines view beef as a very important part of their diets that it cannot be missing in daily meals. Therefore, not many promotions are needed. However, some of the hig h quality beefs and fancy cuts are advertised in magazines to attract upper class consumers. For other Argentines, word-of-mouth communication, social channels of communication such as friends, neighbors, and family members, are the most commonly used sou rce of information for consumers. (Manonkian, 1996)

5b. Sales Promotion

Very little sales promotion is used, but the little bit of promotion that is used is mentioned in section 4, for typical retail outlets.

6. Pricing Strategy

6a. Customary Mark-ups

The aflosa virus, which causes foot-and-mouth disease among cloven-footed animals, has affected the world's beef industry. (www.latinolink.com.beef) In Argentina, the well developed vaccination program allows its beef products to gain approval to export to many countries including Brazil, Britain, and the United States. The increased demand in foreign countries has caused beef prices to increase in the local market.

6b. Type of Discounts Available

Some major supermarkets offer discount on all beef products on a specific day of the week In order to compete with the supermarkets, most butchers offer discounts to customers who buy in bulk. Therefore, many Argentine's like to go to butchers on weekend s to purchase a large quantity of beef for their Sunday barbecue. (Manonkian, 1996)

B. Swift-Armour Sociedad Anònima Argentina

Swift-Armour is the largest beef exporter in Argentina and exports canned meat to some 50 countries. Frozen cooked meat is exported to the United Stated, Italy, and Japan. Most of the beef which is processed into "Campbell's" soups in the United States com es from Swift-Armour. In addition, the Agribusiness Division of Swift manages 620,000 acres of land with approximately 100,000 heads of cattle. Annual Sales were 268,000,000 Dollars in 1995 and has 2,600 employees.

Swift started operations in 1907 and has since been well known for its beef and other products inside and outside Argentina. In 1980 Campbell Soup Company took over the stocks, and together with their combination of experience and technological potential - along with a strict Total Quality Program - Swift in 1993 opened one of the world's most advanced production plants. The old plant operated at 100% capacity and had outgrown its production requirements. That was caused by the economic boom in Argentina i n the early 1990s. Because consumers now have more disposable income, Swift-Armour's domestic sales are up (Homepage of Swift-Armour and Campbell Soups Company).

1. Product

Swift-Armour's domestic product lines include Frozen cooked beef, canned corned beef, chilled and frozen cuts, pates, marmalades, edible fats, ketchup, canned vegetables, and canned fruits under the "Swift" label, and pastas and edible oils under the "La P atrona" brand. (Homepage of Swift-Armour and Campbell Soups Company).

2. Price

Please see table in Appendices.

3. Promotional Mix

Companies are required to pay money for 'generic products', including milk and beef, that goes to a promotional fund in support of their industries. Beef companies are required to pay a dollar per head of each cattle to support the beef industry in Argenti na. (May: November 11th, 1996)

4. Distribution Channels

After the cattles are slaughtered, they are sent to big distribution warehouses. IBP, Excel, and Manford, which is a sub division of Swift-Armour, are the largest distributers in the Argentine beef market. The distributers will deliver products according t o the need of local retailers.

III. Assessment of Opportunities

A. Opportunities

The Argentine market has many opportunities bevause everyone consumes meat, every day. Also, Argentina has favorable regions for cattle breeding because of its good climate and pasture quality (www.mecon, 1995). In addition, new technologies are being intr oduced to make meat processing more efficient, which allows them to be more competitive domestically and internationally. Finally, Argentina has a highly skilled labor force that is knowledgeable in meat processing and agricultural capabilities, because Ar gentine's have been doing this for generations.

There are also opportunities for producers of Argentine beef to other countries. They have a good reputation worldwide for high quality meat, while oyher meat producing countries are having problems with diseased cattle. This allows Argentina to fill the g ap of meat supply to these problem regions.

B. Disadvantages

Perhaps the highest disadvantage for a new entry into the market is, that the market is already blooded. Also to participate in an already existing company, one must consider that the estimated beef consumption is decreasing, because people are trying to e at healthier, people are frustrated due to the foot-and-mouth disease problems among cattle. Also, the environment has become a main issue, and the methane gas that is produced by the cattle is causing a greenhouse effect, which has an effect on the whole world. In addition, the relatively large amount of soybeans which are necessary to feed the cattle in order to produce - a relatively small amount of - meat, could be used to feed hungry people in developing countries. Finally, around the world there is an increase in negotiations on beef, due to the cattle disease, so it will be even costlier to enter the market than before.

IV. Sources of Information

Blakemone, Harold and Susan Collier (1992), The Cambridge Encyclopedia of Latin America, Press Syndicate of the University of Cambridge

Bremner, Marilyn (1994), Backround Notes: Argentina, U.S. Department of State, Bureau of Public Affairs, Office of Public Communication, Washington D.C.

Broderbund Software (1992), PC-Globe: Argentina

Central Intelligence Agency (1994), The World Factbook

The Economist (September 28th, 1996), Argentina: The Free Market's Losers Strike Back

Elken, A.L. (1996), Choice, July-August

Europa Publications Ltd. (1996), The Europa World Year Book, Vol. I

Forbes, Steve (August, 1996), Incredible, Forbes

Gale Research Company (1988), International Marketing Handbook, Vol. I, 3th Edition

Gale Research Company (1995), Worldwide Encyclopedia of the Nations: Americas, 8th Edition

Hines (1994), Sex Roles: A Journalistic Research

International Academy of Santa Barbara (1996), Almanac - Current World Leaders, Volume 39, No.3, June

International Financial Statistics (October, 1996)

Kurath, Gertrude Prokosch (1972), Funk & Wagnalls Standard Dictionary of Folklore, Mythology and Legend, Funk & Wagnalls Publishing Co. Inc.

Manonkian, Veronica (Nov 22th, 1996), Personal Interview, University of Kentucky, Agricultural Economics Student from Argentina

Mayer, Lee (November 26th, 1996), Personal Interview, University of Kentucky, Extension Professor and Extension Economist

Nekhom, Lisa M. and Ione Wright (1978), Historical Dictionary of Argentina, The Scorecrow Press Inc., Metuchen, N.J., P.

Palmer, John (1995), Readers Digest Guide to Places of the World, The Readers Digest Assoc., London

Perèz, Sebastian (November 17th, 1996), Personal Interview, MBA Student from Argentina

Snyder, John D. (1996), Americas, March-April

Szuchman, Mark P. (1990), Journal of Urban History, February

United Nations (1994), International Trade Statistics Yearbook, Vol. I

Wall Street Journal (November 11th, 1996), Big Emerging Market

www.ag.iastate.edu/centers/merc/news/FEB/NBa.html

www.campbellsoups.com/!!rrmf2381vrrmhS2u7V/shareholder/profile3.htm

www.cdci.gov/cia

www.gwdg.de/~uwvw/histor.htm

www.invertir.com/swift.html

www.latinolink.com.beef105.html

www.mecon.ar and www.mecon.ar/invest

www.middlebury.edu/~leparc/htm/argent2.htm//lanic.utexas/<p>

www.nceo.org/world/latin4.html

V. Appendices

1. Transportation

RAILWAYS 1989 ROAD TRAFFIC 1990

Passengers carried (million) 282 Passenger cars 4,283,700

Freight carried ('000 tons) 14,765 Commercial vehicles 1,500,800

Passenger-km (million) 10,533

Freight ton-km (million) 8,237

Europa World Year Book/UN: Statistical Yearbook

SHIPPING (Merchant Fleet) 1990 Int. Sea-borne Shipping 1990

Number of vessels 479 Goods loaded 33,978

Displacement ('000 grt) 1,890 Goods unloaded 5,820

Europa World Year Book/ Lloyd's Register of Shipping, UN: Monthly Bulletin of Statistics

CIVIL AVIATION 1990 1991 1992

Passengers carried ('000) 4,353 4,529 5,159

Passenger-km (million) 9,431 9,228 10,339

Kilometres flow (million) 73 70 74

Freight ton-km (million) 200 185 n.a.

Mail ton-km (million) 10 10 n.a.

Total ton-km (million) 1,037 1,100 1,156

Europa World Year Book/UN: Statistical Yearbook

2. Communication Systems

1990 1991 1992

Radio receivers ('000 in use) 22,000 22,300 22,600

Television receivers ('000 In use) 7,165 7,190 7,300

Telephones ('000 main lines in use) 3,087 3,199 n.a.

Daily newspapers n.a. 159 190

Books (number of titles) 4,915 6,092 5,628

Europa World Year Book/ UNESCO: Statistical Yearbook

3. Prices

Average monthly live prices for steers, 1995 (U.S. Dollars per hundredweight)

Month Jan. Feb. Mar. April May June Juli Aug. Sept. Okt. Nov. Dez.

Arg. 38.10 36.29 34.93 34.02 36.29 34.02 32.21 32.21 36.29 38.56 39.46 39.92

U.S. 71.97 72.55 70.00 66.63 63.72 63.74 62.54 62.18 63.23 64.44 67.51 66.34

www.ag.iastate.edu/centers/merc/news/APR/SSa.html/Arg. Livestock and Beef Market Situation, Salaria de Agricultura Pesca y Alimentaciòn, 4/96

Average monthly prices (fob) of beef variety meat exports, 1995 (U.S. Dollars per hundredweight)

Month Quarters Chilled Cuts Frozen Cuts Manufact. Beef Frozen Cooked Canned Corned Beef Canned Meat Specialities Variety Meats

March 53.71 276.33 119.07 74.66 175.90 128.87 180.58 59.33

June 52.07 293.61 126.51 69.99 184.39 131.13 200.90 53.07

September 52.21 256.19 123.20 63.87 190.46 123.79 183.34 54.70

December 69.49 218.95 126.92 66.36 189.83 120.84 130.54 62.69

www.ag.iastate.edu/centers/merc/news/APR/SSa.html/Arg. Livestock and Beef Market Situation, Salaria de Agricultura Pesca y Alimentaciòn, 4/96

If you want to contact us: nickme@gmx.com