Day: Jan 21, 2020

Peru suspends import of agricultural products from Bolivia

Peru’s National Agricultural Health Service (Senasa) announced the suspension of imports of plant products and other animal products as published by El Comercio. The fact is in response to the measure imposed by the Bolivian government, which suspended the importation of Peruvian vegetables, “without technical sustenance”. Peru and Bolivia maintain a historic agricultural trade relationship, which during 2019 achieved the import of 896,000 kilos of boneless beef and was allowed to import 10,499 tons of peanuts, 1,614 tons of chia and 617,000 metric tons of soy and its derivatives.

“Strict limits” shall apply to foreign investment in lithium production.

The new executive manager of Bolivian Lithium Sites (YLB) reported that they plan strict limits on foreign investment in the metal extraction and processing. They seek to strengthen the local know-how and work with specialized international advisors. Bolivia produces 400 metric tons of lithium per year in a test plant. They expect to produce about 50,000 tons over the next five years. The agreement signed by the MAS administration for lithium industrialization with Chinese firm Xinjiang TBEA is under analysis. The project for the construction of a lithium plant with a capacity of 15,000 tons per year will remain.

In Bolivia, fiscal deficit fell to 7.7%

The Minister of Economy and Public Finance, José Luis Parada reported that 2019 closed the with a fiscal deficit of 7.7%. The Government achieved the goal in one month and 17 days, by sorting the budget and optimizing public investment. They curbed excessive spending and sought efficiency in impact and profitability projects.

Bolivian meat production and export to China increase

According to data from the Federation of Cattlemen of Santa Cruz (Fegasacruz), in 2019 it was able to export 3533 tons of meat worth $16.1 million. The number of producers increased from 30,000 to 32,000 last year, with 9.7 million animals across the country. The sector generated an economic movement of $us 500 million during 2019 in the domestic market. Domestic consumption is 200,000 tonnes per year, and 40,000 tonnes of surplus remains for export.

Bolivia renegotiates natural gas contract with Argentina

Bolivia opened technical negotiations with Argentina to amend the fourth addendum of the natural gas export contract signed in 2006 in effect until 2026 to avoid fines for non-compliance. An estimated volume between 12 and 14 million cubic meters per day (MMm3/d). Argentina currently pays an annual average of $6.7 per million BTU for the import of natural gas from Bolivia.

Bolivia exported gold for more than $7 billion in 10 years

In a decade, Bolivia has exported 220 tons of metallic gold worth $7.202 million. Between January and November 2019, exports reached 43.5 tonnes worth $1.542 million. Metallic gold is one of the leading export products in the country, with 19% of total sales abroad. The United Arab Emirates became Bolivia’s third trading partner in 2019 after Brazil and Argentina.