The number of deaths from Saturday's 8.8-magnitude earthquake in Chile has topped 700.

Chile's President Michelle Bachelet told a news conference on Sunday that the quake killed at least 708 people and the death toll is likely to rise.

The president earlier said that about two million people, roughly one eighth of the Chilean population, had been affected in some way by the quake.

Bachelet also signed a decree giving the military control over security in the province of Concepcion, where looters have pillaged supermarkets, gas stations, pharmacies and banks.