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The argentine firm behind AstraZeneca COVID vaccine Latam production sees April/May launch

The Argentine biotech firm working on the production of 400 million doses of an AstraZeneca COVID-19 vaccine for Latin America said on Friday it could begin shipping the active substance of the product to Mexico for completion.  Esteban Corley, director of mAbxience, the biotech firm, said he foresaw the finished product could be distributed in Latin America between April and May.  “Sometime in late February these materials will be exported to Mexico and in Mexico they will be formulated, filled…

Argentine soy oil contracts under pressure from “wash out” by Chinese importers

Chinese importers have started to practice “wash out” with Argentine soy oil contracts, which is having an impact on the local industry. “Wash out”, means previously signed contracts are being canceled, and buyers are choosing to exchange them for sunflower oil produced in the Black Sea region, which is cheaper. This practice has been adopted in the past by the Chinese with regard to soybean imports from Brazil. The adoption of this strategy by the Chinese has led soybean oil prices in Argentina to…

Coronavirus reshapes China’s Belt and Road in Latin America

China-backed infrastructure projects slow in the region while new opportunities emerge in health and digital technology The disruptions of the coronavirus pandemic have taken a toll on China’s flagship foreign infrastructure and investment programme, the Belt and Road Initiative (BRI). Its nature, pace and scope are all likely subject to change in Latin America in the near and long-term. Many Chinese-backed projects framed as part of BRI have hit the brakes across the region, as the Covid-19 crisis has affected…

Is Anyone Crazy Enough to Lend to the Argentina government?

In June 2017 Argentina sold US$2.75 billion of 100-year bonds and I wrote then that “Argentina is unlikely to get through a decade without defaulting let alone 100 years”. It wasn’t a particularly radical call for a country that had defaulted four times in the previous 35 years. In August 2019 Argentina announced it planned to default and was seeking talks with its lenders to restructure its debts, sending the price of its bonds plummeting. This week Argentina struck a deal to restructure its debts on…

One Country, Nine Defaults: Argentina Is Caught in a Vicious Cycle

At midnight Saturday, after months of histrionics, the clock ran out on Argentina. It had failed to put up the $500 million it owed foreign bondholders and, in so doing, had fallen into default for the ninth time in its history. It’s a staggering number, putting the South American country in an elite league of serial defaulters that includes the likes of Ecuador, Uruguay and Turkey. The first episode came in 1827, just 11 years after independence. The last three came rapid-fire, one after another, in…

Adecoagro has secured USD 100 million international credit for projects and investments in Argentina

It expects to double its milk production to 200 million litres per year in Argentina. The Wall Street listed firm also has assets in Brazil and Uruguay. Adecoagro, Argentina’s largest milk producer, received a USD 100 million loans from the International Finance Corporation (IFC) weeks ago, which will be earmarked for investments in the local agri-food sector, more specifically aims to double its milk production to reach 200 million litres per year. This is the second time the company has obtained funding…

The vines of Argentina

The vines of Argentina The Mendoza province of Argentina—set against the panoramic backdrop of the Andes and occupying a total area of around 57,000 square miles in the country’s far west—is best known as Argentina’s charming and illustrious wine country. In fact, Argentina is the fifth largest producer of wine in the world. The viticulture here is astoundingly ubiquitous—radiating far beyond the bottle. From the geography of the region to wine’s imperative role as a celebrated local and international…

Argentina Gradually Lifting COVID-19 Lockdown Restrictions

Argentine President Alberto Fernández announced Friday that COVID-19 lockdown restrictions will be gradually lift starting Saturday. Fernández spoke at an official event, accompanied by Axel Kicillof, governor of Buenos Aires province and Horacio Rodríguez Larreta, mayor of Buenos Aires. “Between July 18 and August 2 we will be trying to return to normal life in this new world, in this different world that requires different care and we will do it gradually,” he said. Fernández warned, however,…

We tried Beyond Meat in China. Did anyone else?

It was a little hard to find Beyond Meat’s limited edition veggie burgers. It was really hard to find Chinese customers eating them. In China’s consumer culture, “limited offers” from globally-recognized brands have the distinct potential to command long queues and consumer frenzy on levels associated overseas only with hardcore Star Wars fans.  The collaboration between the buzzy American plant-based meat company Beyond Meat and fast-food giant Yum China did not command anything near those…

Uruguay, Paraguay, Argentina get best marks in Latin America for the pandemic response – poll

Uruguay, Paraguay and Argentina are the Latin American countries that earned the best grades for their response to the coronavirus, according to a poll conducted in the region and released on Friday, while Brazil was tagged as the worst performer.  The survey by the consulting firm Trespuntozero, to which Reuters had exclusive access, shows that in eight of the 10 countries in which the study was conducted, the respondents considered Uruguay one of the best controllers of the pandemic.  According to the…

Millionaires in Latin America Weigh Moving to Sidestep Tax Grab

Millionaires across Latin America are looking to leave their home countries as governments strive to fix public finances battered by the Covid-19 pandemic with higher taxes on the wealthy.  Some are ready to move, with families in tow, as far as Portugal. Others prefer jurisdictions closer to home, such as Panama and Uruguay, which are positioning themselves as convenient locations for the emigrant rich. “When wealth taxes are on the rise and legal certainty is being undermined it leads the families…

PERCEPTIONS ON DOING BUSINESS IN LATIN AMERICA: CAUTIOUS OPTIMISM FOR FUTURE GROWTH AND OPPORTUNITIES

In June 2020, the Biz Latin Hub team launched a survey asking for information about individuals’ perceptions about doing business in Latin America. We received a range of responses from 75 business owners, executives, government officials and other specialists operating in over 40 countries worldwide. 57.3% of respondents are considering expanding into the region in the future, with many expressing cautious optimism at economies’ abilities to bounce back after the COVID-19 pandemic. Find out what…

Uruguay’s COVID 19 success: ‘But we cannot cry victory just yet’

One of few countries in Latin America that appears to have the pandemic under control After attending a high society wedding earlier this year with more than 500 members of Uruguay’s elite, a well-known interior designer — just returned from trips to Madrid and Milan — tested positive for Covid-19.  The dramatic news was splashed all over the newspapers of the country whose windswept Atlantic beaches are a favoured party destination of the international jet set. The gravity of…

Depleted soils drive Argentina to sustainable farming

Producers abandon pesticides and move to greener methods in Argentina due to high costs and dependence “With agrochemicals everything is easier: you kill everything that can harm the plant. But at the same time, you are also killing the soil,” says Amadeo Riva, a producer of soybeans and other crops in Argentina whose farm went from using 9,000 liters of pesticides per year on its 1,200 hectares to only 1,000 through agroecology. The case of Riva is repeated with other small and large agricultural producers…

Argentina seeks a bigger share of China’s organic market

From pears to honey, producers of organic products hope existing demand for healthy food will be consolidated after the coronavirus Organic producers reject GM seeds, chemical fertilisers, and agrochemicals, according to Ricardo Parra of Argentina’s Las Quinas beekeeping company in Argentina. Hard to believe, then, that a country like Argentina that used 500 million litres of agrochemicals last year would have a flourishing organic food sector. But Argentine organic produce is now featuring more prominently…
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