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Investment property | 12 Months Ended
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Dec. 31, 2023
Investment property [abstract] |
Investment property | Investment property Changes in the Group’s investment property in 2023 and 2022 were as follows:
| 2023 |  | 2022
Beginning of the year | 33,330 |  |  | 32,132 |
Net gain/(loss) from fair value adjustment (Note 8) | 10,620 |  |  | (2,961) |
Exchange difference | (10,586) |  |  | 4,159 |
End of the year | 33,364 |  |  | 33,330 |
Fair value | 33,364 |  |  | 33,330 |
Net book amount | 33,364 |  |  | 33,330 |
Investment properties are measured at fair value using a sales comparison approach prepared by an independent expert. Sale prices of comparable properties are adjusted considering the specific aspects of each property, the most relevant assumption being the price per hectare (Level 3). The increase/decrease in the fair value of investment property is recognized in the Statement of income under the line item “Other operating income, net”. The Group estimated that, other factors being constant, a 10% reduction on the sales price for the period ended December 31, 2023 and 2022 would have caused a reduction of US$3.3 million and US$3.3 million respectively in the value of the investment properties, which would impact the line item “Net gain from fair value adjustment”.

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- Definition The entire disclosure for investment property. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 40 -IssueDate 2023-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=40&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IAS40_g74-79_TI -URIDate 2023-03-23 + Details
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- References No definition available. + Details
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