ROHSTOFF INTERNATIONAL

15:00 | 24.03.2016
Luciano Lauds Argentine Government’s Recent Reforms; Urges Continued U.S. Support as Macri Administration Advances Agenda

Recognizing that agriculture is a vital contributor to Argentina’s
economy, the new government of President Mauricio Macri has taken
important initial steps to make it easier for the nation’s farmers to
connect to global markets, ADM Chairman and CEO Juan Luciano said
Wednesday.

Speaking during a CEO panel in Buenos Aires hosted by the American
Chamber of Commerce in Argentina, Luciano noted that the government’s
decision to reduce or eliminate export taxes and quota systems would
prove beneficial both for farmers and for the nation’s economy.

“With these changes, Argentina will become an even bigger player in the
world market,” Luciano said. “Today, Argentina has 40 million people and
produces enough food to feed 300 million … so the opportunity for
Argentina to better integrate [into the global market] is fantastic.
And, it’s very symbiotic: Argentina needs the market, and the world
that’s growing to 9 billion people needs Argentina’s production.”

He added that he hoped that the government would soon join with the
private sector to make needed improvements to the country’s
transportation infrastructure.

“Argentina is in a privileged position from a natural resources
standpoint, with vast arable land, great soil and weather, and the
Paraná River cutting through its heartland,” Luciano said in response to
a question from U.S. Commerce Secretary Penny Pritzker. “The Argentine
farmer is very modern, very resourceful and very efficient. What
companies and the public sector can do is invest more in infrastructure—
railways, waterways and roadways—to be able to transport these crops to
final market for processing. That is something that can be handled
better with public-private partnerships,” Luciano said.

Barge transportation, he noted, is particularly critical for
environmental reasons, as moving grain via barge over inland waterways
is far less carbon-intensive than other modes of transportation. This is
part of the reason why ADM is investing $43 million in a barge-loading
facility in the San Martin region near Rosario, he said. The facility is
slated to open in July 2016, in time for the Argentine harvest.

Luciano—a native of Argentina raised in a farming family in Buenos Aires
province—noted following the panel that the Macri government would need
the U.S.’s support and the world’s patience as it continued to implement
its agenda for economic reform.

“I believe it is important that we all have realistic expectations;
there may be setbacks from time to time with the government’s ambitious
plans,” Luciano said following the panel. “The changes the Macri
government is striving to make will take time, and we must continue to
show our support.”
About ADM
For more than a century, the people of Archer Daniels Midland Company
(NYSE: ADM) have transformed crops into products that serve the vital
needs of a growing world. Today, we’re one of the world’s largest
agricultural processors and food ingredient providers, with more than
32,300 employees serving customers in more than 160 countries. With a
global value chain that includes 428 crop procurement locations, 280
ingredient manufacturing facilities, 39 innovation centers and the
world’s premier crop transportation network, we connect the harvest to
the home, making products for food, animal feed, industrial and energy
uses. Learn more at www.adm.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160324005719/en/


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