Chile remains cautious in its buying

The Chile market remains stable at the start of the year, with prices showing little variation and consumption described as “slow but steady,” according to an importer. References stand at US$/t 6,300–6,500 for 19–20 cuts from Brazil, and US$/t 7,000–7,250 for Paraguay. A Paraguayan exporter reported deals for five round cuts at US$/t 6,500 CIF. “So far there have been no major changes. Everyone is watching the government transition in March, waiting for clearer signals on economic policy,” a broker said. In this context, the Chilean peso has continued to strengthen, breaking below 870 pesos per US dollar.