BluGlacier, one of Chile's largest salmon importers to the U.S., announced the debut of its first ever direct-to-consumer brand: OSHĒN. Scheduled to launch on November 1st, OSHĒN will offer a convenient delivery service bringing premium fresh and frozen Chilean salmon to customers' front doors nationwide in completely biodegradable and recyclable packaging playfully designed with witty banter.
Chilean cherry producers will have a new market from this season after getting the green light to export to Vietnam. For its part, Chile has authorised import of Vietnamese grapefruit. According to Chilean Agriculture Minister, Antonio Walker, "The opening of Vietnam is part of our strategy to expand our market portfolio in case we should have problems in any of our other markets due to the pandemic."
The Chilean National Economic Prosecutor (FNE) has granted approval to nine companies national maritime cargo freight to establish a joint venture to develop a platform blockchain. The platdform will be called Global Shipping Business Network (GSBN). Its objective is to handle all processes related to maritime cargo such as the issuance of documents and the dispatch of cargo, among other services. It is also expected that the solution will be offered to other companies in the sector and not only to those involved in its development.
Copper rose to $7,000 a tonne for the first time since June 2018, helped by hopes of a US stimulus deal, strikes at Chile's mines, expectations of a healthy demand in China and a strengthened yuan.
Juan Andres Ferrari, Vice President of ACF Global Sourcing in Chile said that Chile is going through some uncertain times due to the higher transportation costs. He also warned that there could be a gap in fruit supply out of Chile this coming season, starting November and December, with reduced and highly priced fresh produce. However Mr Ferrari says the severity will depend on the changing government regulations of the importing countries.
A survey by the National Chamber of Commerce (CNC) revealed that 63% of surveyed stores will not hire support workers at Christmas and 39% believe that sales results will be worse than in 2019. The survey was made to 185 stores with 7,984 workers.
A drop of three places in the ranking was what Chile's pension system registered in the twelfth version of the Melbourne Mercer 2020 World Pension Index that was released today. The country fell from tenth place (out of 39 countries worldwide) to thirteenth place among the best pension systems.
Chilean pension funds have been given the go-ahead by the country’s financial regulator to invest in gold exchange traded products for the first time. The relaxation is part of a brace of reforms in Latin America, alongside Brazil’s decision to allow cross listings of overseas exchange traded funds in the form of depositary receipts, that could help breathe new life into the region’s stuttering ETF industry.
The Minera Candelaria announced the suspension of its operations in order to ensure the safety of its workers due to "acts of violence driven by some members of the Union Mina". The event occurs in the middle of the mining company's collective bargaining process, where two of its operator unions rejected the respective offers from the company and opted to initiate a strike. "While the Mina Union began the strike on October 8, the Candelaria Union will begin its strike from October 20", according to the union.
The real estate market is slowly beginning to recover after coming to a standstill due to the pandemic in Chile. According to the Housing Report for the third quarter of Portalinmobiliario, the prices for home purchases have experienced a significant recovery with an increase of 51.6% in this type of operation, compared to the previous quarter of the year.