Exhibit
12.3





CHIEF
EXECUTIVE OFFICER CERTIFICATION
(Pursuant to Section 302)



I,
Patricio Contesse, certify that:



1.
I have reviewed this amended annual report on Form 20-F/A of Sociedad Química y Minera de Chile S.A.;



2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect
to the period covered by this report;



3.
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all
material respects the financial condition, results of operations and cash flows of the company as of, and for, the periods presented
in this report;



4.
The company’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and
procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined
in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and have:



| | (a) | Designed
                                                                 such disclosure controls and procedures, or caused such disclosure
                                                                 controls and procedures to be designed under our supervision,
                                                                 to ensure that material information relating to the company,
                                                                 including its consolidated subsidiaries, is made known to us
                                                                 by others within those entities, particularly during the period
                                                                 in which this report is being prepared;
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| | (b) | Designed
                                                                 such internal control over financial reporting, or caused such
                                                                 internal control over financial reporting to be designed under
                                                                 our supervision, to provide reasonable assurance regarding the
                                                                 reliability of financial reporting and the preparation of financial
                                                                 statements for external purposes in accordance with generally
                                                                 accepted accounting principles;
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| | (c) | Evaluated
                                                                 the effectiveness of the company’s disclosure controls
                                                                 and procedures and presented in this report our conclusions about
                                                                 the effectiveness of the disclosure controls and procedures,
                                                                 as of the end of the period covered by this report based on such
                                                                 evaluation; and
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| | (d) | Disclosed
                                                                 in this report any change in the company’s internal control
                                                                 over financial reporting that occurred during the period covered
                                                                 by the annual report that has materially affected, or is reasonably
                                                                 likely to materially affect, the company’s internal control
                                                                 over financial reporting; and
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5.
The company’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control
over financial reporting, to the company’s auditors and the audit committee of the company’s board of directors (or
persons performing the equivalent functions):



| | (a) | All
                                                                 significant deficiencies and material weaknesses in the design
                                                                 or operation of internal control over financial reporting which
                                                                 are reasonably likely to adversely affect the company’s
                                                                 ability to record, process, summarize and report financial information;
                                                                 and
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| | (b) | Any
                                                                 fraud, whether or not material, that involves management or other
                                                                 employees who have a significant role in the company’s
                                                                 internal control over financial reporting.
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|       | /s/
    Patricio Contesse G. | 
|------ | ---------------------------- | 
|Name:  | Patricio Contesse G.         | 
|Title: | Chief Executive Officer      | 
|Date:  | October 30, 2013             |