Argentina will have a record production of wine for the Southern hemisphere in 2008, totaling 15.25 million hectoliters, compared to the 15.046 of last year according to the latest report from the Paris seated International Organization of Vines and Wine, OIV.
The US dollar in the Chilean money market fell back to 480 pesos on Thursday after having reached 490 on Wednesday following on several days of gradual recovery.
The European Central Bank (ECB) left interest rates for the Euro zone unchanged at 4% but admitted an increase was possible at its next meeting because risks to price stability over the medium term have further increased.
The Bank of England Monetary Policy Committee, MPC, decided Thursday to hold interest rate at 5%. The decision had been widely expected amid concerns about the pace of inflation.
Brazilian soybean exports reached a record 4.44 million tons in May, up from the 3.34 million in April and 3.15 million in May 2007, as farmer protests cut shipments from Argentina, according to grain and oilseed traders.
Brazil's Central bank raised its benchmark interest rate this week for the second time in less than two months to curb resurgent inflation and prevent overheating of the world's tenth biggest economy.
Chile's Consumer Price Index soared 1.2% in May, far above forecasts (0.6%), and the highest since May 1994 (1.4%) and also the most significant monthly variation since March 2003, according to the country's Statistics Office.
The Permanent Commission of the Argentine Episcopal Conference called on Thursday for a gesture of greatness from the government and the farmers to help put an end to the three month long conflict which is rapidly becoming into a serious confrontation and threatens social peace.
The United Nations World Food Programme said on Wednesday that it will provide 1.2 billion US dollars in additional food aid in the 62 countries hit hardest by the current crisis resulting from the surge in food and fuel prices.
Federal Reserve Chairman Ben Bernanke said Wednesday that long term inflationary expectations are concerning but he does not believe the United States will experience the out-of-control prices seen with 1970s oil shocks.