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MercoPress, en Español

Montevideo, October 21st 2025 - 04:35 UTC

Economy

  • Monday, August 26th 2024 - 08:53 UTC

    Giant wholesale chain planning Argentine exodus?

    Makro has been in Argentina since 1988

    Makro, a leading wholesale supermarket chain where anyone can shop at more convenient prices, has announced its decision to leave crisis-ridden Argentina after some 30 years in the South American country where sales keep plunging despite President Javier Milei's administration successful narrative. According to the consulting firm Scientia, the wholesale sector faced an 18.8% drop in sales in August alone.

  • Friday, August 23rd 2024 - 20:39 UTC

    Uruguay trying to lessen dependence on China for its beef exports

    North America, mainly US, has been the main destination of Uruguayan beef in the first half of this year, ahead of China

    Uruguay is committed to lessen its dependence on the Chinese market for its sales of meat and beef in particular. In recent years China, as with most other Latin American countries has become its main trade partner, absorbing non processed agricultural commodities and minerals while flooding local economies with Chinese industrial goods.

  • Friday, August 23rd 2024 - 20:16 UTC

    UK distillers toast £25m Brazilian boost for Scotch Whisky under the Geographical Indication status

    Industry estimates, Brazil is in the top five global growth markets for alcohol over the next 5 years and its population of over 200 million people already have an appreciation for whisky

    UK Trade Secretary Jonathan Reynolds on Wednesday 21 August visited Glengoyne Distillery in Scotland to celebrate Brazil’s decision to grant special protected status to Scotch Whisky - bolstering ‘Brand Scotland’ by promoting iconic Scottish products across the world. 

  • Wednesday, August 21st 2024 - 06:23 UTC

    Brazil forced to large imports of wheat, despite government's goal of self sufficiency

    Over the past 12 months, a total of 5.7 million tons of wheat arrived at Brazilian ports—the highest 12-month cumulative result since December 2022

    Brazil's imports of wheat in the first seven months of the year are almost equal to the total volume purchased overseas during 2023. The report is from the Center for Advanced Studies in Applied Economics (Cepea) at the University of São Paulo, and most probably can be attributed to the catastrophic floods in the southern states of the country, which are the main producers of the grain.

  • Monday, August 19th 2024 - 23:07 UTC

    New shipment of Argentine gold abroad reported

    It was the third such shipment under President Milei

    A video of an armored truck carrying some 1500 gold bars from Argentina's Central Bank (BCRA) to the Ezeiza International Airport went viral Monday as the third such shipment -worth around US$ 250 million- was presumed to have left for London, it was reported in Buenos Aires. No special security was seen around the vehicle on the highway leading to the air terminal.

  • Monday, August 19th 2024 - 10:18 UTC

    Consumption plunges in Argentina despite Milei's optimism

    Scientia's document also projects declines ranging from 18% to 20% once the figures for the July 29-Aug. 4 week are released

    Consumption in Argentina has dropped below the pandemic and 2001 levels as the South American country's economy continues its erratic behavior under Libertarian President Javier Milei, whose administration depicts a different scenario. A survey conducted by the pollsters Scentia showed the loss of purchasing power and the recession on mass consumption.

  • Monday, August 19th 2024 - 07:38 UTC

    Brazil and China celebrate fifty years of diplomatic relations

    In the first half of 2024, Brazil exported US$ 28.44 billion in agricultural products to China, soybeans, corn, sugar, beef, chicken, cellulose, cotton, and fresh pork

    China and Brazil celebrated on August 15, fifty years of diplomatic relations, which with time paved the way for Beijing to become Latin America's largest economy main trading partner.

  • Monday, August 19th 2024 - 07:12 UTC

    Falklands cancels second season of Loligo squid for conservation reasons

    Despite the fishing industry agreeing with reasons not to open the second Loligo season, this will have a significant impact on the fishing sector

    In July 2024 the Falkland Islands Fisheries Department conducted a routine pre-season survey prior to the second Loligo season, working in close partnership with local fishing companies. The survey results showed the lowest second pre-season biomass estimate since 2008, with the lower end of the estimate being below the Fisheries Department safe stock replenishment threshold of 10,000 tonnes.

  • Saturday, August 17th 2024 - 08:55 UTC

    Uruguay's Central Bank keeps Monetary Policy Rate at 8.5%

    It was the first Copom meeting chaired by BCU's new president, Washington Ribeiro

    The Monetary Policy Committee (Copom) of Uruguay's Central Bank (BCU) decided Friday to maintain the Monetary Policy Rate (MPR) at 8.5% for the third month in a row to help keep inflation downwards and en route to the 4.5% Monetary Policy Horizon, it was announced in Montevideo after the first Copom meeting chaired by BCU's new president, Washington Ribeiro.

  • Friday, August 16th 2024 - 21:00 UTC

    Panama Canal ups vessel draft to 50 feet

    The news reflects the Canal's commitment to return to normal operating conditions, the ACP said in a statement

    The Panama Canal Authority (ACP) has sent a notice to shipping lines announcing that the maximum draught for vessels passing through the Neopanamax locks between the Atlantic and Pacific Oceans has been increased to 50 feet (15.24 meters). The ACP explained this decision was made in light of the current and projected water levels in Lake Gatun for the coming weeks.