Thursday , April 26 2018
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Brazil

Brazil responds after EU ban on poultry imports

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BRASILIA: Urging Europe to reconsider the ban, Brazilian Minister of Agriculture Blairo Maggi said, “They are taking advantage of taking us out of the market due to sanitary concerns, which are unfounded,” reports Global Meat News. According to Food Navigator, the vote, taken last thursday, was unanimously in favour of the ban on imports from 20 of Brazil’s processing companies owing to flaws ... Read More »

Brazil steelmaker Usiminas net income jumps on economic rebound

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BRASILIA: Brazilian steelmaker Usinas Siderúrgicas de Minas Gerais SA reported net income of 157 million reais ($46.4 million) in the first quarter, a 45 percent rise from a year earlier, amid an economic rebound that boosted net revenue, it said on Friday. The steelmaker, known as Usiminas, said adjusted earnings before interest, tax, depreciation and amortization (EBITDA), a gauge of ... Read More »

20 Brazilian meat export plants banned by EU

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BRASILIA: Twenty Brazilian meat plants have been delisted by the EU following on from detected flaws in Brazil’s official control system. The 20 plants currently export meat and meat products, mainly poultry, to the EU. Delisting the 20 plants will see their authorisation to export to the EU removed. Once the measure to delist the plants is published in the ... Read More »

Afghan aid encouraged corruption harmed local businesses

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Some of the findings of the report, Private Sector Development and Economic Growth: Lessons from the U.S. experience in Afghanistan: Afghan private sector development efforts didn’t reflect the reality of the country’s economic and security environment, the capacity of its institutions, its relations with its neighbors, or the impact of corruption. Optimistic projections for the pace and level of progress ... Read More »

Brazil to increase capacity to help Venezuelan migrants

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 BRASILIA: Brazil is increasing its capacity to help migrants crossing the border from Venezuela to escape the economic and political crisis affecting their country. The Social Development Ministry said Wednesday it is building 11 shelters in the northern state of Roraima where migrants will receive temporary housing, medical treatment and meals. The shelters will accommodate 500 people each and are ... Read More »

Brazil Feb economy activity underwhelms as recovery stumbles

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BRASILIA:  Economic activity in Brazil barely expanded in February after contracting the month before, central bank data showed on Monday, suggesting the recovery hit a bump in the first months of the year. The central bank’s economic activity index rose 0.09 percent from the month before, less than the 0.15 percent median estimate in a Reuters survey of economists. The ... Read More »

Brazil vessel lineup for sugar 60 pct below same period last year

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BRASILIA: The lineup of vessels to load sugar in Brazil currently is around 60 percent smaller than seen in the same period a year earlier because of lower output and tepid foreign demand, midway through the first month of the country’s new cane crop. Ten vessels were at Brazilian ports in the first week of April to load 393,500 tonnes ... Read More »

Brazilian trade delegation to visit Egypt next week

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BRASILIA:  Brazilian trade delegation will arrive in Cairo next week to discuss ways of boosting commercial relations between Egypt and Brazil, Head of the Cairo Chamber of Commerce (CC) Ibrahim al-Araby said on Tuesday. He said that the delegation will include representatives of different fields, adding that bilateral meetings between the representatives and their Egyptian counterparts will be held to ... Read More »

Strong numbers for OZ’s potential Brazil gold mine

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BRASILIA: The open pit project is estimated to have an initial capex cost of about US$108 million and payback of less than two years, with a pre-tax IRR of 73% and NPV of $231.6 million. OZ is in the process of taking over CentroGold’s owner Avanco for A$444 million in cash and shares. CentroGold was assessed by Avanco as a ... Read More »

Brazil soybeans rebound futures dip on fresh US tariff threat

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BRASILIA: Premiums for soybeans over futures rocketed again late Thursday after the close as US President Donald Trump ramped up the rhetoric and proposed $100-billion of additional tariffs on Chinese goods. After ending Thursday offered at 155 cents over May futures and bid at 150 cents, May tonnes loading out of Paranagua surged back towards the 200-cent level in the ... Read More »

Brazil premiums rocket 70 cents on China soybean tax threat

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BRASILIA: Premiums for Brazilian soybeans over futures contracts spiked at least 70 cents on Wednesday on the expectation of greater demand from China after the world’s biggest bean buyer said it would tax US imports of soybeans. Soybean front-month futures on the Chicago Board of Trade fell around 40 cents on the day to about $10/bu at time of press ... Read More »

Brazil March soy exports fall short of record as harvest delay hits

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BRASILIA: Brazil exported 8.8 million mt of soybeans in March, according to customs data, falling short of the record 8.98 million mt it exported the year before. The figures take the total exported in the first quarter of 2018 to 13.22 million mt, down 180,000 mt on the same period last year. Exports fell short of a monthly record for ... Read More »

Brazil federal tax auditors call two day strike

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BRASILIA:  Brazilian federal tax auditors will start a two-day strike on Tuesday to demand payment of a salary bonus, their union Sindireceita said, a stoppage that could further reduce income tax revenue. Some 7,000 workers will strike, affecting a wide range of services to taxpayers and oversight at customs posts at Brazilian ports and airports, the union said in a ... Read More »

Brazil forum to focus on expanding trade ties with Arab states

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BRASILIA: Arab-Brazilian Chamber of Commerce (ABCC) will host a forum tomorrow (April 2) in an effort to expand the trade relations between Brazil and its fourth largest export destination abroad, the Arab world. The one-day economic forum will be held under the theme ‘Building the Future’, in partnership with the Union of Arab Chambers and the League of Arab States, ... Read More »

Brazil’s pulp production grew 10.2% in January

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BRASILIAS: Brazil’s pulp production grew 10.2% in January 2018 compared to the same month last year. This represents a total of 1.83 billion tons of pulp, as the Brazilian Tree Industry (Ibá) said in the press release received by Lesprom Network. There was a small increase in total paper production, 1.9%, with the tissue sector standing out; production of this ... Read More »

Brazilian paper and pulp industry over view

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BRASIL: Brazil primarily started in the 1950s. The industry was kickstarted by the BNDES (the development bank of Brazil). Silviculture was one of the five “priority areas” for investment and development for the Brazilian government in the late 1950s which was demonstrated through several eucalyptus pulp projects. The industry started with firm regulatory support and was further strengthened by a ... Read More »

Verescence sales its Brazilian business to focus on Europe and North America

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BRASILIA:  Verescence (formerly SGD) has sold its Brazilian subsidiary Verescence do Brasil to Wheaton Brasil Vidros, the leading producer of high-end glass packaging for the cosmetics, perfume and pharmacy markets in Brazil. Thanks to this acquisition Wheaton consolidates its position in the Brazilian market and becomes one of the world’s leading glass manufacturers for the luxury sector. The operations of Verescence do Brasil, located ... Read More »

SA halts some meat imports from Brazil

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BRASILIA: The department of agriculture, forestry and fisheries suspended meat imports from three Brazilian production facilities last week as a result of ongoing investigations by Brazilian authorities into alleged food safety fraud. According to Bomikazi Molapo, the department’s spokesperson, Brazilian officials suspended the facilities on March 5, after which South Africa suspended imports from these plants on March 16, when ... Read More »

Imports of food products from Brazil shut down amid safety check scandal

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BRASILIA: The Department of Agriculture, Forestry and Fisheries has suspended imports of food products from various establishments in Brazil suspected of fraudulently evading food safety checks. Brazilian police are said to be investigating executives at the country’s main poultry exporter, BRF, after claims of corruption and the evasion of food safety checks in the Brazilian meat and poultry industries. In ... Read More »

Brazil fuel imports to fall from record as Petrobras cuts prices

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BRASILIA: Brazil fuel imports are set to fall from a record as the country’s state-owned oil company lowers prices in a bid to regain market share. Petroleo Brasileiro SA, which owns 13 out of the 16 refineries in the country, cut diesel prices by 47 per cent and gasoline by 38 per cent at the refinery gate since January. As ... Read More »