03/26 Closing Prices / revised 03/27/2026 08:09 GMT | 03/26 OPEC Basket  $75.96 +$0.33 cents | 03/26 Mexico Basket (MME) $66.80 +$0.43 cents |   02/28 Venezuela Basket (Merey)  $64.96   -$1.90 cents  03/26 NYMEX Light Sweet Crude  $69.65 +$0.65 cents | 03/26 ICE Brent $73.79 +$0.77 cents  03/26 RBOB  $223.28 +0.21cents | 03/26 USLD  $ 228.87 +2.88 cents | 03/26 NYMEX Natural Gas  $3.861 +0.074 cents | 03/21 Baker Hughes Rig Count (Oil & Gas) 593 +1 | 03/27 USD – Dollar/MXN  20.2429 (data live) 03/27 EUR – USD  $1.0761 (data live)  03/27 US/Bs. (Bolivar)  $69.01880000 (data BCV) Source: WTRG/MSN/Bloomberg/MarketWatch/Reuters

Food Insecurity in Latin America and the Caribbean (July 20, 2022)

Over 40% of the population in Latin America and the Caribbean face moderate or severe food insecurity, reports the Food and Agriculture Organization. This situation is particularly worrisome in Andean, Caribbean, and Central American countries, according to the World Bank. Russia’s invasion of Ukraine, combined with COVID-19 and extreme weather caused by climate change, have had a significant impact on food production, cultivation, and supply chains, with over 56 million people in the region affected, according to UN data. As James Bosworth noted yesterday in the Latin America Risk Report, high commodity prices could surprisingly hit the region hard, despite countries such as Argentina and Brazil being food producers themselves, furthering hunger in the region.

Brazil

  • Yesterday, the US Embassy in Brazil released a note in support of Brazilian elections, democracy, and institutions, reports CNN Brasil

  • The 3 most important Federal Police associations released a statement yesterday reaffirming their confidence in the Brazilian electoral system, notes OSF Latin America and the Caribbean Director Pedro Abramovay on Twitter.

  • A new report by think tank Mapbiomas reveals that deforestation has increased by more than 20% in the Brazilian Amazon in comparison to last year, reports DW.

Uruguay

  • Uruguay legalized marijuana 5 years ago, creating fears among some of “gangs of zombies” and skyrocketing drug use. Consumption has not increased as expected, reports La Prensa Latina.

Regional Relations

  • Companies from the United States are falling behind Chinese and Russian firms in the race to develop lithium mines in South America. This reflects waning US influence in the region, according to The Hill.

  • Netflix is set to add an additional fee for consumers who use the service in more than one household, blaming password sharing for their plummeting sales, reports Daily Mail. This measure will take effect in El Salvador, Guatemala, Honduras, the Dominican Republic, and Argentina.

Panama

  • Following a previous deal with the government to halt protests and cut gas prices, protests have once again resumed in Panama, blocking a key highway, notes France24.

Ecuador

  • Gang violence at Bellavista prison in Ecuador saw at least 13 inmates killed and 2 injured. In May, a fight in the same prison resulted in 44 dead inmates, reports BBC.

Argentina

  • The Argentine peso reached an exchange rate of $301 yesterday in informal (dolar blue) markets, breaking a record after having risen 3.4% from the previous day’s value, according to La Nación.

  • Two Argentine restaurant owners living in Spain have allegedly run a drug trafficking ring transporting cocaine from South America to Europe, reports InSight Crime

Mexico

  • José Noriel Portillo Gil, “El Chueco,” of the Sinaloa Cartel has reportedly been accused of extortion by Dia Bras Mexicana, a subsidiary of Canadian mining company Sierra Metals, reports Animal Político.

  • The Maya Tren project was paused earlier this year due to a court injunction related to environmental concerns, but President López Obrador declared the project of national security interest on Monday in order to resume its development. (AP)

El Salvador

  • MS-13 leader Elmer Canales Rivera managed to escape a maximum-security prison and flee to Mexico as a result of help from key political connections in the Bukele administration, notes InSight Crime.

Haiti

  • Haitian gang member Maxony Germinal has been extradited to the US for his alleged involvement as “one of the arms and ammunition suppliers of the notorious criminal organization “400 Mawozo” – involved in kidnapping and murders in the country.” (NY Carib News)

Caribbean

  • The Caribbean Export Development Agency (Caribbean Export) and the Caribbean Centre for Renewable Energy and Energy Efficiency (CCREEE) have signed a cooperation agreement to work towards sustainable energy development and job creation, writes CNW

Arianna Kohan and Jordi Amaral / Latin America Daily Briefing
http://latinamericadailybriefing.blogspot

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