Foreign buyers eye Uruguayan land

June 30th, 2008 Posted in Agriculture, Uruguay
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Montevideo, capital of the country. A view of pedestrian street in the Ciudad Vieja, former Spanish citadel

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BBC NEWS
why is this South American country, sandwiched between Argentina, Brazil and the Atlantic Ocean, so attractive to foreign investors?

“Uruguay is a small area in the broader region where buyers find better prices and political and economic stability,” said Eduardo Caldeyro from Caldeyro-Stajano, a land sales broker.

“Curiously enough, for the first time we are receiving enquiries from Americans; within South America we get calls from Argentines, Brazilians and a few Colombians. From Europe, it is mostly Spanish real estate investors, who are facing a sharp slowdown there.”

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Uruguay in gas field find claim

June 30th, 2008 Posted in Energy, Uncategorized, Uruguay
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BBC NEWS
Uruguay says it may have found a large natural gas field that would change it from an importer to an exporter of gas.

The announcement of the possible find, which could also contain oil, was made by President Tabare Vazquez in a note on his official website.

Local reports say that the field could contain as much as three trillion cubic feet (85bn cubic metres) of gas but there has not yet been any drilling.

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Conflict With Farmers Takes Toll on Argentina

June 30th, 2008 Posted in Agriculture, Argentina
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NYTimes.com
Argentina also faces the challenge of convincing buyers of its grains, especially in Asia, that it is a reliable supplier. Nearly 60 ships were waiting at Argentine ports on Monday to finally receive soybeans and grains. Many had been waiting to load for many days, with delays costing as much as $60,000 a day.

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As food demand soars, S. American production jumps, but with risks

June 30th, 2008 Posted in Agriculture, Commodities, Economics - Indicators, Policy and Trends
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McClatchy Washington Bureau
In Argentina, economists estimate that annual inflation hovers around 25 percent, with rising food prices among the top contributing factors. Local prices for corn have grown by 41 percent over the past year, while prices for wheat have risen by 56 percent.

Yet the trend also has brought in billions of dollars in export revenue for South American economies and driven the longest spell of sustained growth in the region’s recent history.

Governments have amassed tens of billions of dollars in reserves, and unemployment and poverty rates have dropped.

“Argentina has come out on the positive end of these trends,” economist Jorge Todesca said. “But in global terms, Argentina is just discovering its role. The government still sees the agricultural sector principally as a provider of food to Argentines.”

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Jignesh Shah of MCX: ‘India matches US in banking infrastructure’

June 30th, 2008 Posted in Banking and Finance, Commodities, India
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The Bombay Stock Exchange in India.

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‘rediff.com’
It (the MCX-NYSE deal) is more than a commercial deal. It is a symbol of strength. They have a heritage and a huge size, but still they have the pace and the agility that match our own DNA of speed and innovation Whatever we do, we like to do in the fastest and the best way. (NB – How Indian traders operate). We don’t merely want to be India’s best. They selected us because our parameters matched.”

NYSE has picked up stake in a market that can only grow further.

There are 140 agri-commodities and 1,400 industrial commodities in India and MCX is set to trade in all of them. In the last few years, Indians are allowed to trade in the commodities and currency markets. India already has a well-developed equity market.

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‘Mexico Tourism Board plans to come to India’

June 29th, 2008 Posted in India, Mexico, Tourism
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Express TravelWorld
The tourism board is planning to come to India sometime next year and is looking at opening an office here. Currently, our focus is on creating awareness about our products and making people realise the diversity of Mexico as a destination. There will soon be a publicity campaign on Mexico in the broadcast media.

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India to sell edible oils at lower rates from July

June 29th, 2008 Posted in Food and Beverages, India
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Reuters
India will provide edible oils at subsidised rates through ration shops in 15 states from July, in an attempt to lower the impact of high prices on poor people, a government statement said on Friday.

The government has introduced a scheme for distribution of 1 million tonnes of imported edible oils in 2008/09 at a subsidy of 15 rupees per kg through state governments at the rate of 1 kg per ration card per month, the statement said.

The state-run agencies have already contracted import of 179,000 tonnes of edible oil for the purpose, of which 100,000 tonnes have landed. The subsidy bill will cost 15 billion rupees.

India, which is about 40 percent import dependent, is the second largest edible oil importer after China. It mainly imports soyoil from Argentina and Brazil and palm oil from Indonesia and Malaysia.

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India’s JK Tyre buys Mexico’s Tornel for 2.7 billion rupees

June 28th, 2008 Posted in India, M&A, Mexico, Uncategorized
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Forbes.com
India-based JK Tyre & Industries Ltd. said it has bought Mexican tyre company Tornel and its units for 2.7 billion rupees — JK’s first international acquisition.

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Asia rethinks LatAm

June 28th, 2008 Posted in India, Latin America
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theedgedaily.com
Ironically, another thing that is helping Latin America is the tyranny of distance I talked about earlier: Soaring shipping or freight rates are forcing companies that supply goods [from Asia] to the North American market to rethink their long-term strategies. That is helping to power a new manufacturing boom in Mexico. As oil prices and freight rates rise, Latin America will be a key beneficiary.

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Brazil Becomes the New Food Superpower

June 28th, 2008 Posted in Agriculture, Brazil, Food and Beverages
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Santos

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US News and World Report
With millions of people literally hungering for affordable food, Brazil‘s breakthroughs in tropical agriculture may prove to be the key to feeding a growing global population. If Saudi Arabia fills the world’s gas stations, China assembles its consumer goods, and India vies to staff its office services, then it is Brazil that is stepping forward to stock its pantries.

With ample sun and fresh water and more available arable land than any other country, Brazil seems to be on a historic trajectory to becoming the next great global breadbasket. “Brazil can be No. 1 in the future in agricultural production,” asserts André Nassar, a leading agricultural economist based in São Paulo. “I think we will exceed the U.S.”

Brazil has already achieved some eye-popping gains. It is now the top world exporter of beef, poultry, soybeans, sugar, coffee, and orange juice. It is rising in other categories. Soy yields this year here in the central-western state of Mato Grosso are the best ever, reaching levels seen in Iowa and Minnesota. And Brazil looks to widen its lead as the top global exporter of ethanol as a result of its low-cost processing of sugar cane.

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