During the first weeks of March, the annual balances of 2024 of the food companies that quote on the stock market were known, which must show their results. In a concentrated sector such as the food industry, two giants such as Arcor and Molinos won together $ 315,587 million.
Only in December 2023, when Milei assumed, inflation in food was 29.7%, above the general level (25.5%). A slut that hit the tables of working families, eating became a luxury.
That price rise involved an apartment to guarantee profits, while the big majorities looked impoverished. By the middle of the year (last official data), poverty already reached 52.9% of people, and indigence (people who do not cover even basic foods) 18.1%. Mostly affecting childhoods, children under 14, the indices showed 27% and 66.1% respectively.
In its balances, the Arcor Group shows a net gain of $ 291,079 million, more than 28 times more than what it shows by 2023 of $ 10,037 million. Despite the fall of its sales due to the crisis (5.5% less in nominal terms), the financial result drives its profit.
Luis Pagani’s company allocates 67.4% of sales to the domestic market, while 32.6% came from exports and operations abroad.
In the case of Molinos, in the message that accompanies its financial statements, they indicate that “as reported by specialized consultants, the level of household consumption in the domestic market contracted during 2024 between 4.3% and 13.9%, depending on the different calculation methodologies and measures measures.”
Despite this, Molinos obtained a net gain of $ 24,508 million during 2024, as presented before the National Securities Commission (CNV).
The company informs the CNV a dividend distribution of $ 81,800 million (around 82 million dollars). The journalist Alejandro Bercovich, denounced that with the distribution of dividends of mills and other large companies, the shareholders will seek to dollarize before the devaluation. These sums would imply a strong pressure to the central bank that adds its seventh consecutive sales day of the BCRA to cover the demand for markets.
Seventh consecutive sales day in the BCRA, accumulating US $ 1,313 million from March 14 to date. pic.twitter.com/MrralETzEX
– Christian Buteler (@cbuteler) March 25, 2025
Milei says that entrepreneurs are social benefactors, the truth that in something as elementary as people can feed, the government prioritizes the gain of large companies. While UNICEF denounces that in Argentina more than one million girls and boys have to deprive themselves of one of the four meals for lack of money. There are thousands who go to sleep with the empty belly.
By 2024, according to INDEC, the item “Food and non -alcoholic beverages increased by 94.7%, after the brutal climbing of December 2023. For last month, the price of food was positioned again above inflation, 3.2% against the general level of 2.4%. For March, consultants foresee an increase of 3.4% that would boost the general level of price.
To eat is not a luxury and is guaranteed in a country producing food, it is necessary to raise a set of defense measures that face these concentrated groups. Starting with the recomposition of wages and retirements to deal with the loss of purchasing power. The control of foreign trade in the hands of a state monopoly to decide that it is exported and matters depending on the interests of the majorities, also facing the maneuvers of the exporters and importers to make dollars. While Milei allocates millions to the fraudulent payment of the debt, millions of family cannot access a food plate. Urgent rejection of debt and the new agreement with the IMF is necessary.
Source: www.laizquierdadiario.com
