For more than a year now, commodity prices have been under pressure from the strong U.S. dollar and slowing global demand. This has made a huge dent in the balance sheet of many net exporters of resources, in turn weakening their currencies.
Colombia, the fastest-growing major oil producer in Latin America in the past five years, is looking to join the global shale boom as it expands exploration in areas once dominated by guerrilla groups.
Coffee production for the smaller of two annual crops in Colombia, the world’s second-biggest grower of arabica beans, may fall 30 percent this year as rains damage trees, according to researcher F.O. Licht GmbH.