A further 150 BYD electric buses went into service in Santiago, Chile, bringing the total number of BYD electric buses in Chile to 455. In autumn last year, in cooperation with Enel X and Metbus BYD, the first electric bus corridor was set up in Latin America in the Chilean capital. With 455 electric buses now in service in Chile, the Chinese company claims to lead the market for electric buses in the country with a share of 65%.
During the summer citrus season, LGS Specialty Sales sources lemons, navels, minneolas, mandarins and cara cara oranges to the U.S. for its Darling Citrus® line. According to LGS, the company is experiencing a strong summer lemon season from Argentina and Chile. Chilean lemon season began in late June and anticipates going through early October with a peak in medium to small size fruit.
Despite the negative effects of the pandemic, Chilean cherries achieved historical figures during the 2019-2020 season, where China was a key consumer. According to the president of the Federation of Fruit Producers of Chile (Fedefruta), Jorge Valenzuela, last season they exported about 230,000 tons of cherries, a “historical record.” He pointed out that the figure left revenues of $1,400 million for Chile.
The Inter-American Development Bank (IDB) approved a US $300 million loan to Chile to: enable the country to improve the incomes of the most vulnerable people, improve the adequacy of solidarity pension systems, improve the availability of medicines at a lower cost, improve the efficiency of public spending and the quality of the budget formulation process.
The Chilean Minister of Agriculture, Antonio Walker, announced the start of the paperless phytosanitary certification between Chile and the U.S. This means that the products of plant origin being marketed between both countries will only require an electronic certificate to enter the destination country. This will streamline the export process and decrease its costs. It also represents a significant advance because, as Walker pointed out, “the U.S is a strategic partner for Chile, as more than a third of our fresh fruit is exported there.”
The International Monetary Fund has projected a 9.4% contraction of the GDP, worse than the 4.2% estimated in April. In a teleconference, the presidents of nine Latin American countries -including Chile- discussed with the senior executives of the IMF, the World Bank and the Inter-American Development Bank ways to handle the impact of the Covid-19 pandemic. The Latin American leaders asked for more solutions, including a “possible restructuring” of debt.
Chinese authorities confirmed that there are no restrictions on the importation of Chilean salmon, despite European salmon being blocked due to unfounded fears it had served as a carrier of the coronavirus. Sernapesca Director Alicia Gallardo, also announced Chinese officials had carried out an unprecedented remote joint inspection of several Chilean salmon processing plants.
TerraForm Power Inc.’s shares jumped 1.58% to close at $18.67. About 327,552 shares traded hands on 3,305 trades for the day, compared with an average daily volume of n/a shares out of a total float of 226.52 million. With today’s gains, TerraForm Power Inc. now has a market cap of $4.23 billion. The portfolio of facilities controlled by the company includes wind and solar power producing facilities located in the U.S., Canada, the UK, and Chile.
Chinese supermarkets suspended their Salmon sales, which are imported from Chile, due to at least 50 positive tests of COVID-19 in wholesale markets. Nervousness about the second wave in China resonated in international markets, including the commodities market, where copper took the brunt of the decline with a 2.41% drop, which closed the day at US $2,561 a pound.
Singapore signed its first digital economy partnership agreement (DEPA), which will see the Republic cooperating with Chile and New Zealand on key emerging issues in the digital economy. The agreement also aims to promote interoperability between the systems of different countries. Under the newly signed DEPA, Singapore businesses can expect improved efficiency, reduced cost, and increased trust when conducting business and trading digitally with overseas partners in Chile and New Zealand.