"Rising food prices mean many farmers around the world are reaping record profits. And South America's agricultural powerhouses, Brazil and Argentina, are responding to the farming windfall in opposite ways.
da Silva's government recently announced record farm credits, a form of indirect subsidy, to encourage Brazil's farmers to produce more while the price of their exports are high on world markets, a move that should improve Brazil's economy. But Argentina, Brazil's economic and political archrival, decided to share the agricultural windfall at home.
Worried about the wave of inflation rippling around the world, the government of President Cristina Fernández de Kirchner of Argentina increased export taxes on some crops, a move meant to keep down domestic food prices by encouraging farmers flush from global profits to sell more at home." (Thanks Yaz)
Of course, the first sentence should read: big farmers are reaping...