The Kahlbetzer family is walking away from farming in Argentina after a record-breaking asset sale and will look to recapture some of its former glory in Australian agriculture when the time is right.

One of Australia’s most famous and wealthy farming families says Argentina, where it has operated for the past 40 years, is being dragged down by “bad policy and bad politicians”, and has indicated acquisitions here might have to wait until a run of good seasons ends.