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Inventories
 12 Months Ended
Dec. 31, 2023
Inventories  
Inventories Inventories
The composition of inventory at each period-end is as follows:    
Type of inventoryAs of
December 31,
2023		As of
December 31,
2022
ThUS$ThUS$
Raw material61,098 27,035 
Production supplies77,810 68,426 
Products-in-progress744,217 590,946 
Finished product891,469 1,097,874 
Total1,774,594 1,784,281 
As of December 31, 2023 and 2022, the Company held caliche stockpiles, solutions in solar ponds and intermediary salts amounting ThUS$ 503,318 and as of December 31, 2022 was ThUS$ 513,209 (including products in progress). As of December 31, 2023, bulk inventories recognized within work in progress were ThUS$ 221,559, while as of December 31, 2022 this value amounted to ThUS$ 122,284.
As of December 31, 2023, bulk inventories recognized within finished goods were ThUS$ 164,029 (as of December 31, 2022, this value amounted to ThUS$ 198,796).
As of December 31, 2023 and 2022, recognized inventory allowances, amounted to ThUS$ 133,768 and ThUS$ 104,057, respectively. For finished and in-process products, recognized allowances include the provision associated with the lower value of stock (considers lower realizable value, uncertain future use, reprocessing costs of off-specification products, etc.), provision for inventory differences and the provision for potential errors in the determination of inventories (e.g., errors in topography, grade, moisture, etc.). (See Note 3.15).
For raw materials, supplies, materials and parts, the lower value provision was associated to the proportion of defective materials and potential differences.
The breakdown of inventory allowances is detailed as follows:
Type of inventoryAs of
December 31,
2023		As of
December 31,
2022
ThUS$ThUS$
Raw material and supplies for production7,724 4,186 
Products-in-progress104,970 83,499 
Finished product21,074 16,372 
Total133,768 104,057 
The Company has not pledged inventory as collateral for the periods indicated above.
As of December 31, 2023, and 2022, movements in provisions are detailed as follows:
ReconciliationAs of
December 31,
2023		As of
December 31,
2022		As of
December 31,
2021
ThUS$ThUS$ThUS$
Beginning balance104,057 75,892 80,930 
Increase in Lower Value32,926 29,693 (3,650)
Additional Provision Differences of Inventory455 (161)330 
Increase / Decrease eventual differences and others— — — 
Provision Used(3,670)(1,367)(1,718)
Total changes29,711 28,165 (5,038)
Final balance133,768 104,057 75,892 
For further details, see accounting policy for inventory measurement in Note 3.15