High Costs Hit Brazil’s Soybean Exports; Colombia to End Mask Mandate

A roundup of Monday’s news from across Latin America

Bloomberg Línea
April 25, 2022 | 09:22 PM

Bloomberg Línea — Higher fuel prices and freight costs have made it too expensive to export soybeans from Brazil, the world’s largest supplier, according to Cargill, one of the world’s largest oilseed trading companies. The cost of exporting soybeans this season exceeded Cargill’s estimates for freight rates by at least 25%, squeezing margins, according to Paulo Sousa, who heads Cargill’s operations in the country.

Colombia’s President Iván Duque announced Monday that, as of May 1, the use of face masks in enclosed spaces will no longer be required, although it will be necessary in places such as hospitals and schools, and the lifting of the law will not immediately apply to the entire country.

All the region’s main stock markets closed with losses on Monday, with the sharpest decline registered in Peru, whose S&P BVL Peru fell by 4.36%, its deepest drop since July of last year. Brazil’s Ibovespa (IBOV) and Mexico’s S&P/BMV IPC (MEXBOL) also closed lower.

Following is a roundup of Monday’s news from Bloomberg Línea and Bloomberg reporters across Latin America.

Argentina:

Brazil:

Colombia:

Ecuador:

El Salvador:

Mexico: