China’s two largest state-owned grains and oilseeds trading companies to import soybean oil from Argentina, easing restrictions imposed in April. Beijing-based Cofco Ltd., China’s biggest grain trader, and China Grain Reserves Corp. have been cleared by the commerce ministry to import soybean oil from Argentina.
US born Peter Diamond and Dale Mortensen, and British-Cypriot Christopher Pissarides, have won the 2010 Nobel economics prize. They were honoured for work on how unemployment, job vacancies and wages are affected by regulation and policy.
United States corn and soybean futures resumed their rally Monday as a surprising government crop report from last week continued to drive concerns over supplies.
Automobile production in Brazil is forecasted to grow 13.1% this year, more than the 6.5% expansion predicted previously according to the national automakers' association Anfavea. Output will probably end the year at 3.62 million units, Anfavea said.
The European Union and the Mercosur trade bloc resumed on Monday a new round of talks in Brussels aimed at reaching free trade agreement in the near future after years of no talks. In the immediate the blocs are seeking to outline a work scheme that could be kicked off in December.
A delegation of Saudi agro-business entrepreneurs headed by the Agriculture minister (and member of the royal family) visited Uruguay with the purpose of establishing a fluid trade exchange and on the long term a strategic alliance.
Latin America did its homework and allowed its currencies to appreciate sufficiently in order to contribute to the balance of global growth, International Monetary Fund (IMF) chief economist for the region, Nicolás Eyzaguirre, announced.
Monthly inflation in Chile quickened as the cost of food and beverages rose the most in at least 20 months. Consumer prices rose 0.4% in September from a month earlier, the National Statistics Institute, INE, said Friday compared to a 0.1% decline in August. Food and beverage prices rose 1.4 percent last month.
“The IMF wants to make us believe that the policies which caused the crisis are now going to be part of the solution”, said Argentina’s Central bank president Mercedes Marcó del Pont following the opening of the IMF/World Bank annual assembly.
The US dollar’s value against the Chilean peso experienced a sharp drop in the second semester of 2010. The exchange rate has been on a steady decline, devaluing by 63 pesos since July, until closing Wednesday at 482.7 pesos to the dollar – which was a daily drop of 0.4 pesos.