Venezuela’s state-run oil company PDVSA has limited the damage from an unprecedented slump in crude exports by transferring oil between tankers at sea and loading vessels in neighboring Cuba to avoid asset seizures. But Venezuela is still fulfilling less than 60% of its obligations under supply deals with customers.
Cuba said this week it was doubling the amount of land it granted would-be farmers and the lengths of their leases in an effort to increase stagnating agricultural output. The state owns 80% of the land and leases most of that to farmers and cooperatives. The remainder is owned by some 400,000 private family farmers and their cooperatives.
Chile’s exports of lithium carbonate reached US$ 85 million in July, more than double that of the same month the previous year, as demand and prices for the key component in electric vehicle batteries continues to rise, the central bank said in a release.
Prime Minister Theresa May has been challenged to set out a “plan B” for Brexit during talks with Scottish First Minister Nicola Sturgeon in Edinburgh. Mrs. May was in Scotland to mark the signing of a “city deal” investment package for the south east region.
Large grain transport ships using Argentine’s port hub of Rosario have had to reduce their cargo by between 3,200 and 4,300 tons because of an unusually low water level in the Parana River, the Rosario grains exchange said this week.
Argentine farmers are finishing this year's wheat sowing, helped by moist soils and cold weather that is prolonging the vegetative stage of crops, raising hopes of high yields and a record harvest, growers and analysts said on Wednesday. Cold Southern Hemisphere winter weather allows seedlings to grow more sprigs per plant. Harvesting starts in November.
A no-deal Brexit poses a risk to the public because the UK would lose access to EU-wide security powers and databases, police leaders have warned. Police and crime commissioners say law enforcement agencies “face a significant loss of operational capacity” if the arrangements stop.
The pound has fallen below US$1.29 for the first time in almost a year on continuing worries Britain will leave the EU without a trade deal. Sterling also hit a nine-month low against the euro, and was down against the yen and Swiss franc.
European foreign affairs chiefs have pledged to protect firms against the impact of US sanctions for doing business with Iran. An EU “blocking statute” took effect on Tuesday to nullify US legal action against European firms in connection with Iran.
British farmers have called on the government to make food security a top priority on the day the country’s cupboards would run bare if households relied only on British produce. A long-term decline in self-sufficiency that has stagnated at around 60% in recent years means around three quarters of the shortfall is imported from the rest of the European Union.