Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY): Análisis PESTLE [Actualizado en Ene-2025]

En el panorama dinámico de los agronegocios argentinos, Cresud Sociedad Anónima emerge como una empresa compleja y resistente que navega por un laberinto de desafíos políticos, económicos y tecnológicos. Este análisis integral de mano presenta el entorno multifacético en el que opera Cresud, revelando una narración convincente de la adaptación estratégica en medio del volátil terreno económico de Argentina. Desde tecnologías agrícolas de precisión hasta marcos regulatorios intrincados, el viaje de la compañía refleja una interacción matizada de fuerzas externas que dan forma a su toma de decisiones estratégicas y su sostenibilidad a largo plazo en un mercado global cada vez más competitivo.

Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (Cresy) - Análisis de mortero: factores políticos

La inestabilidad política de Argentina impacta el clima de inversión agrícola

El panorama político de Argentina en 2024 demuestra una volatilidad significativa. A partir de enero de 2024, el país experimentó una tasa de inflación anual del 276.2%, la más alta en 32 años. La reciente elección del presidente Javier Milei introdujo reformas económicas radicales, creando incertidumbre para las inversiones agrícolas.

Indicador político	Valor 2024
Tasa de inflación anual	276.2%
Índice de estabilidad política	-1.45
Intervención gubernamental en la agricultura	Alto

Políticas de exportación agrícola del gobierno

Las políticas de exportación agrícola de Argentina afectan significativamente las estrategias de comercio internacional de Cresud. En 2023, los impuestos a la exportación agrícola oscilaron entre 30 y 33% para los productos clave.

• Impuesto de exportación de soja: 33%
• Impuesto de exportación de maíz: 30%
• Impuesto de exportación de trigo: 31.5%

Regulaciones de propiedad de la tierra

Los cambios regulatorios potenciales crean incertidumbre de inversión. La propiedad de la tierra extranjera se limita actualmente al 10% de las tierras agrícolas totales en Argentina.

Regulación de propiedad de la tierra	Estado actual
Límite de propiedad de la tierra extranjera	10%
Inversión extranjera máxima por provincia	20,000 hectáreas

Reformas económicas e inversión extranjera

Las políticas de liberalización económica del presidente Milei tienen como objetivo atraer inversiones extranjeras. Las reformas propuestas incluyen la devaluación de divisas y la reducción de los subsidios gubernamentales.

• Devaluación de moneda propuesta: 50%
• Reducción de subsidio potencial: 70%
• Objetivo Aumento de la inversión extranjera directa: 15%

Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (Cresy) - Análisis de mortero: Factores económicos

Altas tasas de inflación en la planificación financiera del desafío de Argentina

La tasa de inflación de Argentina alcanzó 142.7% En diciembre de 2023, que representa una de las tasas de inflación más altas a nivel mundial. Para Cresud, este entorno económico crea importantes desafíos de planificación financiera.

Año	Tasa de inflación (%)	Impacto en Cresud
2022	95.4%	Altos costos operativos
2023	142.7%	Mayor volatilidad financiera

Tasas de cambio de divisas volátiles Operaciones del mercado internacional

El peso argentino se depreció 37.5% Contra el dólar estadounidense en 2023, creando un riesgo monetario significativo para las operaciones internacionales de Cresud.

Metría métrica	Valor 2023
Tipo de cambio USD/ARS	1 USD = 1,000 ars
Depreciación anual	37.5%

Las fluctuaciones de precios de los productos básicos agrícolas afectan directamente los ingresos de la empresa

Los precios de la soja fluctuaron entre $ 12.50 y $ 15.75 por bushel en 2023, impactando directamente en las fuentes de ingresos agrícolas de Cresud.

Producto	Rango de precios 2023	Variación anual
Soja	$ 12.50 - $ 15.75/bushel	26%
Maíz	$ 4.75 - $ 6.25/bushel	31.6%

El aumento de las tasas de interés influye en las estrategias de inversión y expansión

El Banco Central de Argentina mantuvo tasas de interés en 97% En diciembre de 2023, impactando significativamente las estrategias de inversión y expansión de Cresud.

Métrica de tasa de interés	Valor 2023
Tasa base del banco central	97%
Tarifa de préstamos corporativos	110-125%

Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (Cresy) - Análisis de mortero: factores sociales

Creciente demanda de consumidores de prácticas agrícolas sostenibles

Según el Informe Global del Mercado de Agricultura Sostenible 2023, el mercado agrícola sostenible se valoró en $ 15.2 mil millones en 2022 y se proyecta que alcanzará los $ 24.6 mil millones para 2027, con una tasa compuesta anual del 10.2%.

Año	Valor de mercado de la agricultura sostenible	Porcentaje de preferencia del consumidor
2022	$ 15.2 mil millones	62%
2027 (proyectado)	$ 24.6 mil millones	75%

Cambiando la demografía de la fuerza laboral en el sector agrícola

La fuerza laboral agrícola argentina muestra cambios demográficos significativos. A partir de 2023, la edad promedio de los agricultores en Argentina es de 53.4 años, con el 38% de los trabajadores agrícolas menores de 35 años.

Grupo de edad	Porcentaje de la fuerza laboral agrícola
Sobre 35	38%
35-55	42%
Más de 55	20%

El aumento de la migración urbana afecta la disponibilidad de trabajo rural

Argentina experimentó una disminución del 17.3% en la población rural entre 2010 y 2022, afectando directamente la disponibilidad laboral agrícola. Las tasas de migración urbana muestran el 68% de la población que ahora reside en áreas urbanas.

Año	Población rural	Tasa de migración urbana
2010	9.4 millones	62%
2022	7.8 millones	68%

Conciencia creciente de la sostenibilidad ambiental en la agricultura

La conciencia de sostenibilidad ambiental en el sector agrícola de Argentina ha aumentado, con el 72% de las compañías agrícolas que implementan prácticas sostenibles en 2023, frente al 45% en 2018.

Año	Conciencia de sostenibilidad	Empresas que implementan prácticas sostenibles
2018	45%	38%
2023	72%	62%

Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (Cresy) - Análisis de mano de compra: factores tecnológicos

Tecnologías agrícolas de precisión

Cresud invirtió $ 12.4 millones en tecnologías agrícolas de precisión en 2023. Maquinaria agrícola guiada por GPS aumentó la eficiencia del rendimiento del cultivo en un 17,6%. Las tecnologías agrícolas de precisión redujeron los costos de los insumos en un 22.3% en las operaciones agrícolas de la compañía.

Tipo de tecnología	Monto de la inversión	Mejora de la eficiencia
Maquinaria guiada por GPS	$ 5.2 millones	17.6%
Sensores de suelo	$ 3.7 millones	15.4%
Mapeo de drones	$ 3.5 millones	14.2%

Transformación digital

Cresud implementó una plataforma de monitoreo digital de $ 9.6 millones en 2023. Las inversiones de análisis de datos aumentaron la transparencia operativa en un 28.5%. Las tecnologías de monitoreo de cultivos en tiempo real redujeron el tiempo de respuesta de gestión agrícola en un 35,7%.

Tecnologías de imágenes satelitales

La inversión en imágenes satelitales alcanzó los $ 7.3 millones en 2023. Las tecnologías de detección remota mejoraron el monitoreo de la salud de los cultivos en un 24,9%. Las imágenes satelitales multiespectrales reducen los errores de predicción de pérdida de cultivos en un 19,2%.

Tecnología satelital	Inversión	Mejora del rendimiento
Imagen multiespectral	$ 4.1 millones	24.9%
Mapeo de alta resolución	$ 3.2 millones	22.6%

Implementación de la cadena de suministro de blockchain

La inversión en tecnología Blockchain totalizó $ 6.5 millones en 2023. La transparencia de la cadena de suministro aumentó en un 33,7%. La trazabilidad de los productos agrícolas mejoró en un 41,2% a través de la implementación de blockchain.

Aplicación blockchain	Inversión	Mejora de la transparencia
Trazabilidad del producto	$ 3.8 millones	41.2%
Seguimiento de la cadena de suministro	$ 2.7 millones	33.7%

Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (Cresy) - Análisis de mortero: Factores legales

Entorno regulatorio complejo para empresas agrícolas en Argentina

El marco regulatorio agrícola de Argentina involucra múltiples agencias gubernamentales:

Agencia reguladora	Responsabilidades clave	Impacto regulatorio
Ministerio de Agricultura, Ganadería y Pesca	Supervisión de la política agrícola	Control regulatorio directo
Servicio Nacional de Seguridad y Calidad de los Alimentos (SENASA)	Regulaciones de seguridad alimentaria	Requisitos de cumplimiento estrictos
Administración de Aduanas Argentino	Regulaciones de importación/exportación	Ejecución de restricciones comerciales

Cumplimiento de las regulaciones y estándares de comercio internacional

Métricas de cumplimiento de la exportación para productos agrícolas:

Categoría de regulación	Requisito de cumplimiento	Rango de penalización
Normas agrícolas de la OMC	Verificación de documentación 100%	$ 50,000 - $ 500,000 Posibles multas
Certificación fitosanitaria	Documentación de envío internacional obligatoria	Suspensión de la licencia de exportación posible

Leyes de protección del medio ambiente que afectan el uso de la tierra y las prácticas agrícolas

Marcos regulatorios ambientales clave:

• Ley ambiental general 25,675
• Ley de Protección Forestal 26,331
• Regulación de conservación del suelo 22,428

Regulación ambiental	Requisito específico	Consecuencia potencial
Ley de protección forestal	Conservación obligatoria del bosque nativo	Hasta 200,000 ars multa por violaciones
Regulación de conservación del suelo	Prácticas de gestión de tierras sostenibles	Restricciones potenciales de uso de la tierra

Regulaciones de propiedad intelectual para innovaciones agrícolas

Marco de propiedad intelectual de Argentina para innovaciones agrícolas:

Categoría de protección de IP	Duración de registro	Alcance de protección
Protección de variedades de plantas	20 años desde el registro	Exclusividad de material genético
Patentes de tecnología agrícola	15 años máximo	Protección de innovación tecnológica

Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (Cresy) - Análisis de mortero: Factores ambientales

Impacto del cambio climático en la productividad agrícola

Argentina experimentó un 38.3% de reducción en producción agrícola debido a la sequía en 2022-2023. Las tierras agrícolas de Cresud en Argentina enfrentaron desafíos de rendimiento significativos, con la producción de soja que cayó de 4.2 millones de toneladas a 2.6 millones de toneladas.

Año	Reducción del rendimiento del cultivo	Impacto económico
2022	32.5%	USD 127 millones
2023	38.3%	USD 156 millones

Gestión de recursos hídricos en regiones agrícolas

Cresud implementado Tecnologías de riego avanzadas cubriendo 65,000 hectáreas, reduciendo el consumo de agua en un 22.4% en comparación con los métodos tradicionales.

Método de riego	Ahorro de agua	Cobertura del suelo
Riego por goteo	22.4%	45,000 hectáreas
Rociadores de precisión	18.7%	20,000 hectáreas

Aumento del enfoque en prácticas agrícolas sostenibles

Cresud invirtió USD 12.3 millones En tecnologías agrícolas sostenibles, implementando prácticas agrícolas regenerativas en 78,000 hectáreas.

• Cobertura de agricultura regenerativa: 78,000 hectáreas
• Potencial de secuestro de carbono: 127,000 toneladas CO2/año
• Zonas de preservación de biodiversidad: 22,500 hectáreas

Estrategias de reducción de emisiones de carbono en operaciones agrícolas

Cresud redujo las emisiones de carbono por 27.6% a través de la mecanización e integración de energía renovable en operaciones agrícolas.

Estrategia de reducción de emisiones	Reducción de CO2	Inversión
Maquinaria eléctrica	15.3%	USD 7.5 millones
Integración de energía solar	12.3%	USD 5.2 millones

Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) - PESTLE Analysis: Social factors

You're operating in a global food system facing a fundamental shift, where how you farm is becoming as important as what you harvest. The social factors impacting Cresud are all about transparency, labor dynamics, and the political sensitivity of owning large tracts of land in South America. We need to map these near-term risks and opportunities to your core business model.

Growing global demand for sustainable food production and traceability

The market is defintely pushing for verifiable sustainability, and this is a clear opportunity for Cresud. The global food traceability market is set to hit $25.54 billion in 2025, growing at a Compound Annual Growth Rate (CAGR) of 9.6% from 2024. Consumers are now willing to pay a premium for transparency, with sustainability-marketed products continuing to grow at a rate above 17%.

This isn't a niche trend anymore; it's a core requirement for access to premium export markets like the European Union. Cresud has already taken concrete steps here, which is smart risk mitigation. For example, the company has certified its soybean production at one of its Argentine farms under the Round Table on Responsible Soy Association (RTRS) standard. Also, starting to measure your carbon footprint is a critical diagnostic tool for future compliance and market access.

• Consumer Expectation: Two-thirds of consumers consider environmental factors when buying.
• Market Size: Global food traceability market is $25.54 billion in 2025.
• Cresud Action: Certified soybean production under RTRS standard.

Rural-to-urban migration affecting labor availability for large-scale farming

The long-term demographic trend in Argentina is a shrinking rural labor pool. Agricultural employment naturally falls as a country urbanizes and mechanizes. Historically, Argentina saw a 41.5% decrease in the number of agricultural holdings (EAPs) over a 30-year period, which shows the scale of this structural change. You can't rely on cheap, abundant manual labor forever; the labor is moving to the cities.

Here's the quick math: Cresud's business model, which focuses on large-scale, highly mechanized operations, is inherently designed to mitigate this risk. By the end of the 2025 campaign, over 60% of Argentine farms are expected to adopt precision agriculture technologies, which reduces the need for manual labor and increases efficiency. This transition from labor-intensive to capital-intensive farming is a necessary adaptation to rural depopulation.

Consumer preference shifts towards plant-based proteins impacting crop mix

The global shift toward plant-based diets is a massive market force, estimated to reach a size of $85,000 million in 2025 globally. While the focus often goes to novel proteins, the core of this trend is still traditional crops. Cresud is a major producer of soybeans and corn, which are foundational ingredients in both plant-based meat alternatives and feed for traditional livestock. The key is to adapt your crop mix to higher-value, specialized pulses.

While flexitarians-who still eat meat but lean toward plant-based options-make up about 46% of the global consumer base, the demand for non-soy proteins like pea, chickpea, and fava bean is rising. This creates an opportunity for Cresud to diversify its crop portfolio beyond commodity soybeans and corn into these higher-margin pulse crops. Cresud plans to plant approximately 303,000 hectares in the 2025 campaign, and a strategic allocation of a small percentage of this land to high-demand plant-protein sources would be a smart move.

Plant-Based Protein Trend (2025)	Global Market Value (2025)	Implication for Cresud's Crop Mix
Global Plant-Based Food Market	$85,000 million	Increases demand for core crops (Soy, Corn) and alternative pulses.
Flexitarian Consumer Base	Approximately 46% globally	Sustains demand for both traditional meat and plant-based ingredients.
Emerging Protein Sources	Pea, Chickpea, Fava Bean proteins	Opportunity to diversify a portion of the 303,000 hectares planted in 2025 into higher-margin specialty crops.

Social pressure regarding large-scale land ownership and land tenure rights

Owning massive land portfolios in South America, especially in Argentina, creates inherent social and political risk. The debate over concentrated land ownership is a constant in the region, centered on national sovereignty and social justice. The historical 'Rural Land Law' (Law No. 26,737) restricted foreign ownership to 15% of rural land at a provincial level and a maximum of 1,000 hectares per foreign person, and while its repeal is a pro-market signal, the underlying social pressure remains.

Cresud's real estate strategy, which involves buying, developing, and selling productive land, is directly exposed to this public scrutiny. In the 2025 fiscal year, the company reported selling a portion of the 'Los Pozos' farm in Argentina for USD 2.2 million and a portion of the 'Alto Taquari' farm in Brazil for BRL 189.4 million. These transactions, while financially sound, fuel the public debate about land speculation versus productive use and land access for rural families. This is a perpetual risk that requires a strong social license to operate, which means proactively engaging with local communities and securing clear land titles, especially in areas like the Gran Chaco where tenure is often informal.

Finance: Draft a risk-adjusted return model for specialty pulse crops (pea, chickpea) on 5% of the 2025 planted area by the end of the quarter.

Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) - PESTLE Analysis: Technological factors

You're managing a massive, diversified land portfolio, so technology isn't just an expense line; it's the operating system for your entire business model. For Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria, the key technological factors in 2025 revolve around integrating data from the field to the balance sheet, especially across its 1.1 million hectares of land and its complex real estate holdings.

Increased adoption of precision agriculture (agtech) to boost yields and efficiency.

Cresud is doubling down on precision agriculture (agtech), moving past simple GPS guidance to a more data-intensive approach. The company committed to investing over $20 million in these techniques as of 2024, with a clear goal: boost crop yields by at least 15% over the next three years. That's a massive return on investment, and it shows a clear strategic commitment. This focus is critical, especially as the 2025 campaign saw the planted area increase to 303,000 hectares, a 9% jump from the previous season.

Here's the quick math on the expected impact: The company projects a total grain production of approximately 867,000 tons for the 2025 campaign, a 23% increase over the prior year. While favorable weather helped, precision tools are what lock in the efficiency gains and resource optimization. You can't manage a farm portfolio across four countries-Argentina, Brazil, Bolivia, and Paraguay-without this level of granular control.

• Site-Specific Management: Applying fertilizer and water based on real-time soil and crop data.
• Variable Rate Technology (VRT): Tailoring seed and input application to different zones within a single field.
• Yield Mapping: Using combine monitors to generate high-resolution data for future planning.

Use of satellite imagery and AI for real-time monitoring of CRESY's 1.1 million hectares of land.

Managing 1.1 million hectares of farmland and undeveloped land is impossible with boots on the ground alone. Cresud relies on remote sensing and artificial intelligence (AI) to create a virtual, real-time command center for its vast land base. Satellite imagery provides the Normalized Difference Vegetation Index (NDVI) and other spectral data, essentially giving you a health report for every square meter of your land.

The trend is clear: global satellite imagery use in precision farming is projected to increase by 45% between 2023 and 2025. Cresud's strategy leverages this by feeding the satellite data into AI-powered advisory systems. This allows farm managers to get predictive alerts on potential disease outbreaks, water stress, or nutrient deficiencies, enabling a targeted response rather than a costly, blanket application. This is how you protect your $20 million agtech investment and ensure you hit that 15% yield target.

Need for significant investment in IT infrastructure to manage diversified operations.

The sheer scale of Cresud's diversified operations-from cattle and grain production to urban real estate via its subsidiary IRSA-demands a defintely robust IT infrastructure. Think of the data flow: daily agtech inputs from 303,000 hectares of planted crops, plus the complex financial and operational data from IRSA's shopping malls and offices. This requires a strong backbone of cloud computing and enterprise resource planning (ERP) systems.

The need for IT investment is implicitly huge, even without a specific public budget number. For instance, the Urban properties and investments business (through IRSA) generated an adjusted EBITDA of ARS 103,136 million in the first half of FY2025, while the Agribusiness adjusted EBITDA was ARS 35,262 million. Managing the financial consolidation and compliance for these two vastly different, high-value segments is a major IT undertaking. Your system must handle hyperinflationary accounting (IAS 29) for the Argentine operations, plus the complexities of multi-currency transactions across four Latin American countries. That's a serious data challenge.

Digital platforms streamlining real estate transactions and property management.

In the real estate arm, the focus is on digital platforms to streamline transactions and property management. While the core asset value is in the land and buildings, the transaction layer is where efficiency is gained. The industry is rapidly adopting technologies like Blockchain for secure, transparent property records and AI-powered valuation for real-time market pricing.

For Cresud, this means digitizing the sales process for its land and urban properties. For example, a fraction of the Los Pozos farm was sold for USD 2.2 million, and a portion of the Alto Taquari farm was sold for BRL 189.4 million in the first half of FY2025. These are high-value transactions that benefit immensely from digital platforms that automate due diligence, smart contracts, and legal documentation. The goal is to reduce the time-to-close and lower the transactional friction, which is especially high in the complex regulatory environments of Latin America.

The table below summarizes the technological leverage points across the two main business segments:

Business Segment	Core Technology Focus (2025)	Quantifiable Impact / Metric
Agribusiness (Farms)	Precision Ag (VRT, AI, Satellite Imagery)	Targeting 15% yield increase; 303,000 hectares under cultivation.
Urban Properties & Investments (IRSA)	Digital Platforms, AI Valuation, Smart Contracts	Adjusted EBITDA of ARS 103,136 million (1H FY2025); Transaction examples like the USD 2.2 million Los Pozos sale.

The next step is to ensure your IT and Agribusiness teams are fully integrated, with a clear dashboard that maps the $20 million agtech spend directly to the 23% projected grain production increase.

Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) - PESTLE Analysis: Legal factors

You're operating a large-scale agribusiness like Cresud, which means your legal risks are less about a single law and more about the volatile, interconnected regulatory environment across multiple countries. The biggest near-term factor for Cresud in 2025 is the sweeping, pro-market deregulation in Argentina, which cuts costs but introduces new uncertainty in enforcement and policy permanence.

This shift has immediate, measurable impacts on labor costs and export taxes, but it also creates a defintely less predictable environment for environmental compliance and property rights. You need to map the cost savings against the risk of rapid policy reversal.

Complex and evolving labor laws in Argentina affecting farm worker costs and contracts

The Argentine government's labor reforms, enacted in late 2024 and effective through 2025, have fundamentally altered the cost structure for farm labor. The goal is to reduce the high cost of termination and litigation, which directly benefits a large employer like Cresud.

The key change is the elimination of several fines that previously doubled or tripled severance pay for deficient registration, which often fueled labor claims. Also, the trial period for indefinite-term employment contracts is now extended to six months generally, and up to one year for smaller employers, giving you better flexibility in new hires.

Here's the quick math: Labor litigation costs are set to drop because the interest rate applied to labor court claims is now limited to the Consumer Price Index (IPC) plus a simple annual interest of 3%, a significant reduction from previous, often punitive, rates. Plus, the legal regime for seasonal agricultural workers has been modified, subjecting them to a trial period and allowing them to be hired through temporary agencies, streamlining the workforce management for the agricultural campaign.

• Trial period for new hires: Extended to up to one year for small employers.
• Severance fines: Eliminated, reducing litigation-related termination costs.
• Litigation interest rate: Capped at CPI + 3% simple annual interest.

Environmental impact assessment (EIA) requirements for new land development projects

The legal framework for environmental protection is weakening in Argentina, which presents a short-term opportunity for faster land development but a long-term reputation and climate risk. The national government has significantly downgraded the Ministry of Environment to an Undersecretariat and cut its budget by over 65% in 2024.

The proposed legislative changes, such as the Investment Promotion Regime (RIGI), have been criticized for not explicitly demanding Environmental Impact Assessments (EIAs) or evaluating cumulative impacts for new projects. This suggests a potential relaxation of oversight on new land-use changes, including the conversion of native forests, which saw a loss of 140,000 hectares in 2023.

While this deregulation could accelerate Cresud's real estate development cycle, the company must still navigate provincial-level EIA requirements, which remain in place. Moreover, the global push for sustainability means Cresud's commitment to reducing agricultural carbon emissions by 20% by 2025, a stated national goal, will be scrutinized by international investors regardless of local law.

Property rights enforcement and legal framework stability across operating countries

Cresud's core business relies on the secure enforcement of property rights, particularly across its vast land holdings in Argentina, Brazil, and other regional markets. The stability of the legal framework is a major concern, especially in Argentina, given the rapid legislative changes. The new administration's focus on deregulation and fiscal stability (through the REIBP regime, for example) aims to strengthen investor confidence, but the speed of change itself creates a risk of judicial challenge and policy uncertainty.

The company continues to execute its land rotation model, demonstrating that transactions are still viable. For instance, in the nine-month period of Fiscal Year 2025, Cresud sold a fraction of the Los Pozos farm in Argentina for USD 2.2 million, and its subsidiary BrasilAgro sold a fraction of the Alto Taquari farm for BRL 189.4 million. These sales confirm the mechanism for property rights and transfers remains functional, but the underlying legal stability is a constant monitoring point.

Tax law changes, particularly wealth and income taxes on corporate land holdings

The Argentine government has implemented critical, near-term tax reductions that directly boost Cresud's agricultural segment profitability for the 2025 fiscal year. This is a clear, positive opportunity.

A temporary reduction in export duties (retentions) was announced, effective until June 30, 2025. This lowers the tax on soybeans from 33% to 26%, and on wheat and corn from 12% to 9.5%. This reduction directly increases the net price Cresud receives for its primary commodities.

For corporate land holdings, the Tax on Personal Assets (Wealth Tax) for foreign shareholders on their ownership interests in local entities is paid by the company as a substitute taxpayer at a rate of 0.5%. Furthermore, the general wealth tax rates are scheduled to decrease, ranging from 0.50% to 1.10% in 2025, down from a higher range in prior years. The standard Corporate Income Tax rate for Cresud remains at 25%.

Tax Category	2025 Fiscal Year Rate (Argentina)	Impact on Cresud's Business
Soybean Export Duty (until June 30, 2025)	Reduced from 33% to 26%	Directly increases agricultural revenue.
Wheat/Corn Export Duty (until June 30, 2025)	Reduced from 12% to 9.5%	Improves profitability on grain sales.
Corporate Income Tax (CIT)	25%	Standard rate on net taxable profits.
Wealth Tax on Foreign Shareholder Interests	0.5% (paid by local entity)	A fixed cost on corporate land holdings.

Finance: Draft a 13-week cash view by Friday, incorporating the 6.5% to 7.0% export duty reduction benefit on estimated Q4 2025 soybean/wheat/corn sales to quantify the immediate cash flow impact.

Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) - PESTLE Analysis: Environmental factors

You know that in the agribusiness sector, the environment isn't just a compliance issue; it's a core operational risk and a primary driver of long-term asset value. For Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY), managing climate volatility and regulatory shifts around land use is central to their strategy, especially given their expansive, diversified land portfolio across South America.

Increased frequency of extreme weather events (droughts, floods) impacting crop yields.

The most immediate environmental risk you face is climate volatility, which directly hits your top line through crop yield fluctuations. The benefit of CRESY's regional diversification-across Argentina, Brazil, Paraguay, and Bolivia-is clear when you look at the recent past. For example, during the severe drought in Argentina in the 2022/2023 season, the country's overall soybean production plummeted by 50% and corn production by 35% compared to initial estimates.

CRESY's diversification helped mitigate the effect, limiting their overall production drop to just 4% below the prior year's level. Now, for the 2025 campaign, CRESY anticipates a strong rebound, projecting a total grain production of approximately 867,000 tons, representing a substantial 23% increase over the previous campaign. This recovery confirms that geographic spread is your best defense against localized extreme weather.

Metric	FY 2025 Projection/Result	Context/Impact
Expected Grain Production	Approximately 867,000 tons	23% increase over the previous campaign, indicating recovery from drought.
2022/2023 Drought Impact (CRESY)	-4% Production Drop (mitigated)	Argentine national soybean production fell 50% and corn fell 35% in the same period.
2025 Campaign Weather Conditions	Generally favorable, with some irregularity in Northern Argentina.	The core operational outlook is positive, but regional irregularity remains a constant threat.

Pressure to reduce carbon footprint and adopt regenerative agriculture practices.

Stakeholder pressure for climate action is moving from abstract goals to concrete, measurable farming practices. CRESY is positioning itself as a leader by adopting practices that fall under the umbrella of regenerative agriculture, which focuses on soil health and carbon sequestration (capturing and storing carbon dioxide from the atmosphere). You are already using 100% direct seeding (no-till farming) across your operations, which is a foundational regenerative practice, and are increasing your use of cover crops and precision agriculture.

The company has adhered to major industry programs to formalize this commitment:

• Joined the Pro-Carbon and CORTEVA-CARBON GROUP programs, which aim to increase carbon sequestration in the soil.
• Achieved Round Table on Responsible Soy Association (RTRS) certification, guaranteeing best sustainable practices for a portion of your soybean production.
• Started measuring the corporate carbon footprint in Argentine farms to establish a baseline and future reduction roadmap.

Honestly, the market is quickly moving to value carbon-neutral food production, so getting your baseline numbers locked in is defintely the right move.

Water usage regulations becoming stricter, especially in arid farming regions.

Water is a finite resource, and its management is becoming a flashpoint, especially in Argentina, where agriculture accounts for a massive 74% of the country's water withdrawals. The national government's ambitious National Irrigation Plan (NIP) aims to double the irrigated area to 4 million hectares by 2030 while simultaneously pushing for increased water efficiency.

This creates a dual pressure: you need to increase efficiency to meet sustainability demands, but you also face competition for water resources, particularly in areas dependent on glacial meltwater. CRESY's response is to lean heavily on precision agriculture technologies, which use satellite-based monitoring and sensors to optimize every input, including water. This technological adoption is essential for mitigating the risk of future water scarcity and regulatory restrictions on water rights.

Biodiversity protection requirements on undeveloped portions of their land portfolio.

Your vast land portfolio includes significant portions of undeveloped natural ecosystems, which are increasingly subject to national and international conservation mandates. CRESY manages approximately 863,000 hectares of land across the region, and a large portion is designated as reserves.

Specifically, CRESY maintains 100,000 hectares of nature reserves in Argentina alone, which is a key part of your land reserves strategy. The regulatory environment in Argentina, particularly the Forest Law, mandates land-use planning that categorizes forested areas into 'red' (strict conservation) and 'yellow' (sustainable use) zones, which directly affects the monetization potential of your land bank. Furthermore, new mechanisms like Other Effective Conservation Measures (OMECs) are being implemented to recognize and formalize private conservation efforts, which could provide a new framework for managing your approximately 427,600 hectares of Land Reserves (or 465,000 hectares depending on the latest report) outside of intensive agriculture.