The popular action presented in mid-July by a group of activists and representatives of indigenous peoples to suspend Supreme Decree 4232, which shortens the procedures for the evaluation of five transgenic crops, motivated the declaration of emergency by the Association of Oilseed and Wheat Producers (Anapo). It sees an attack against the country’s development, food security, and the Santa Cruz production model that generates a movement of more than $2 billion annually.
Bolivia’s forest trade shows positive balances. A report prepared by the Bolivian Forestry Chamber (CFB), based on data from the National Institute of Statistics (INE), shows that in the first half of 2020 the country has exported wood products worth $22 million, while imports in the same period reached $15.4 million, which means a positive trade balance of $6.6 million. The data also establishes that Bolivia’s exports of wood products decreased by 27.7% concerning the same period in 2019, while imports also had a 25.9% decrease.
Bolivia, with 75% of the world commercialization of the Brazil nuts signs contract with Eastern Europe.
Bolivia is the country that has 75% of the world commercialization of almonds, followed by Brazil and Peru. It is the primary source of economic income for more than 100 communities. The state-owned Empresa Boliviana de Alimentos y Derivados (EBA) diversifies its export market by signing a contract for the operation of foreign trade in almonds to Eastern Europe.
Oil prices closed on Tuesday at their highest level since early March, with the arrival of Hurricane Laura disrupting oil activities in the Gulf of Mexico. In New York, the US barrel of WTI for delivery in October rose 73 cents to $43.35 (+1.7%). In London, the North Sea Brent barrel for October delivery also gained 73 cents to $45.86 (+1.6%).
An upturn in mineral export revenues reported concerning the first months of 2020. In April, mining showed a deficit behaviour and only reached Bs 4 million ($571,429). In June there was a rise of Bs 67 million ($9.6 mn) and to Bs 78 million last month ($11.19 mn).
The government confirmed on Monday that Minera San Cristóbal (MSC), a subsidiary of Sumitomo Corporation, will suspend its operations between 15 and 21 days, due to 41 confirmed cases of COVID-19 among its workers and contractor company personnel.
Bolivia to remain a net importer of crude with forecast net imports of 13,040b/d in the 2020-2029 period.
Bolivia maintains a small net import balance for crude oil, with import volumes estimated at 2,960b/d in 2018 and rising to 11,850b/d in 2019, given a significant drop in oil production that year. As we expect domestic production to further decline over 2020, the imports are likely to increase to over 13,000b/d. Given that investments in oil production remain secondary to gas-targeting projects, we maintain our view that Bolivia will remain a net importer of crude over our forecast period 2020-2029. The increasing demand from domestic refineries will mainly drive higher imports due to growing fuels consumption from 2021. We highlight that Bolivia hopes to increase exports of LPG over the forecast period as new infrastructure comes online.
The Sabucal community, which belongs to the municipality of El Trigal, has late snowfalls that affected 30 per cent of its fruit production. Likewise, the frosts have damaged the high altitude crops of the municipalities of Pucará, Moro Moro and Vallegrande and the crops of potato, tomato, peas, and plums was compromised, which may cause their prices to increase.
The authorities of the municipality of San Pedro, 140 kilometres north of the capital of Santa Cruz, reported that the floods last Friday morning affected seven communities and at least 12,976 hectares, leaving considerable losses in soybean, sorghum, corn and vegetable crops.
Bolivian textile apparel fell 68% in value and 67% in volume over the same period in 2019. Jewellers also experienced falls of up to 50%. Quinoa exports improved from an amount of 43.3 million dollars in the first half of 2019 to 45.2 million dollars this year. The sugar sector exported 52.4 million kilograms between January and June this year, a figure higher than the 38.9 million kilograms of 2019. External sales of sunflower and its derivatives reached 75 million kilograms by July 2020, more than the 43.6 million kilograms of 2019.