International Container Terminal Services Inc. (ICTSI) said Thursday that its first-quarter net profit rose 15% from the year-earlier period, boosted by double-digit growth in its revenue and cargo volume.
ICTSI said net profit in the January-March quarter rose to $40.7 million from $35.4 million in the year-earlier period, while total revenue increased 20% to $209.3 [...]
Brazil is set to overtake the U.S. as the biggest soybean exporter this year, according to data from the U.S. Department of Agriculture.
Rates for Panamax ships hauling cargoes from crops and coal rose the most in nearly six weeks as demand gained for grain and oilseeds from South America.
Rates for the largest ships [...]
A recent U.S. Grains Council Chart of the Week shows the U.S. Department of Agriculture’s (USDA) projections for changes in corn export patterns over the coming ten years based on the recently released USDA Agricultural Long-Term Projections to 2022. The United States, former Soviet Union, Argentina, and South Africa are expected to increase export [...]
A columnist examines what a different election outcome would have meant for democracy in Latin America:
While Obama’s stance toward Latin America has been far from progressive recognizing coup governments of Honduras and Paraguay; signing free trade agreements with Colombia, Panama, and Peru; and dragging feet on immigration reform – it is the “diet” imperialism [...]
Bunge Ltd. (BG), Argentina’s second- biggest exporter, was excluded from the Cereals Register by the Argentine government amid a tax probe, the Official Gazette said today, without elaborating.
Being excluded will postpone Bunge’s readmission later, a tax agency official who asked not to be identified because of the agency’s communications policy, said in a telephone [...]
Bunge has taken advantage of the unusual trading patterns caused by poor global weather, shipping corn to the United States from Brazil and exporting the grain from Ukraine.
Bunge Ltd shares jumped on Thursday as the agribusiness giant doubled quarterly profits by mobilizing its global grain network to supply customers hit by the worst U.S. [...]
According to Afip, Bunge bilked the state out of more than 435 million pesos ($93 million) in taxes in 2006 and 2007.
Argentina has affirmed the suspension of international grain trader Bunge Ltd.’s local subsidiary from a key grain registry due to tax evasion charges.
The company, one of Argentina’s leading grain exporters, was included [...]
CNBC reports: ‘With corn prices having rallied almost 50 percent since early June, soybean prices up 30 percent and wheat prices having risen some 40 percent, commodity traders like Louis Dreyfus are in for bumper profits.’
The U.S. drought sent grain prices to record highs and destroyed a large part of this year’s grain production. [...]
Colombian and U.S. soldiers set up communications in a warehouse, August 7 at Fort Sam Houston in preparation for Fuerzas Aliadas Panamax. Commonly known as PANAMAX, the U. S. Southern Command sponsored exercise brings U. S. Army South and 17 other partner nation military air and land sea forces together in a joint and [...]
‘APM demanded from the government a monopoly on containers — Is that OK?’ sign in Limon, Costa Rica. Union dockworkers have fought the concession of the Port of Moín, saying the community and country will lose when a multinational takes over the public port. Judges in an administrative court have until Aug. 7 to [...]
Excerpts from the Star-Tribune:
As one of the most global U.S. companies, Cargill knows well the land mines of international commerce.
A Cargill rice mill in Venezuela gets nationalized. Government security forces pay a midnight visit to a sugar mill in Syria. Iraq suspends a key trading permit when a big wheat shipment mysteriously vanishes. [...]
A shift in the Chinese diet has created a high demand for grain to feed beef cattle.
World grain prices should remain “very firm” over the near term as demand from Asia exceeds forecasts and dry weather cuts into supply, the senior economist of the UN’s Food and Agriculture Organisation (FAO) said on Monday.
Peru has stood for years by Argentina in its dispute over the ownership of the Falkland Islands, even sending fighter planes to Argentina during its 1982 war with Britain over control of the islands. The U.K. is the second largest source of foreign investment in Peru.
On Monday, Peru reversed an earlier decision by [...]
Ollanta Humala, President of Peru
Peru’s President Ollanta Humala said today his country won’t tolerate any foreign impositions on its internal affairs. The Andean leader alluded to the resolution to prevent the UK’s HMS Montrose frigate from docking at El Callao port in Lima after ending its patrol mission in the disputed Malvinas Islands.
Puerto Rosario, Argentina. Argentina is the world’s third-largest soybean exporter behind the U.S. and Brazil.
Argentine trucks carrying grains to ports on the Parana River declined by 72 percent compared with a year earlier amid a strike, data from the Rosario Cereals Exchange showed.
Only 1,674 trucks arrived at grain ports in Argentina’s Santa Fe [...]