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Thursday , June 22 2017
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Brazil

Brazilian soybean exports to reach third month of near-record volumes: SECEX

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BRASILIA: Brazilian soybean exports slowed down slightly in the first half of June but are set to end the month near record levels for the third time straight, official data showed. Brazil, the world’s largest soybean exporter, inspected an average of 441,800 metric ton of the grain per workday until last Friday, compared to a daily average of 498,200 metric ... Read More »

MSC gains full control of vital Brazilian reefer port

SERVICE EXPORTS

BRASILIA: Container carrier MSC, partner with Maersk Line in the 2M alliance, will now gain full control of Brazil’s second-largest port in the city Portonave, one of the country’s most important shipping and export ports for Brazilian food exports. Swiss Mediterranean Shipping Company (MSC) is taking over the remaining 50 percent of the shares in Portonave S.A. via port company ... Read More »

Brazil’s senate consults on import tax exemption proposal

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BRASILIA: Brazil’s Senate has launched a consultation on a proposal to exempt from import duties goods bought by individuals worth up to USD1,000. Currently, people can enter the country with up to USD500 in goods purchased abroad without having to pay tax. The exemption limit for consignments is USD50. The proposal argues that hiking the thresholds will benefit all social ... Read More »

Brazil to collect USD6bn under Tax Repayment Initiative

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BRASILIA: Brazilian authorities have secured BRL20bn (USD6bn) in revenue after offering some 342,000 micro and small businesses the opportunity to pay in installments. The scheme, which launched in December 2016, allows companies with turnover of up to BRL3.6m a year to pay off tax due before May 2016 in 120 monthly installments. The Federal Revenue Service said it had issued ... Read More »

Brazil to renew Repetro oil sector customs regime

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RIO DE JANEIRO: Brazil is mulling the extension of a special customs regime for the oil industry in a move aimed at maintaining the country’s appeal to major global energy firms, according to three sources with knowledge of the matter. The so-called Repetro regime, which applies to export and import of goods used in oil production and related research, currently ... Read More »

Brazil’s Usiminas, Porto Sudeste settle $62.5 million port dispute

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BRASILIA: A unit of Brazilian steelmaker Usinas Siderúrgicas de Minas Gerais SA has ended an arbitration case with Porto Sudeste do Brasil SA that centered around access to a key shipping hub in Rio de Janeiro state. Under the terms of the agreement, which were unveiled in a securities filing on Tuesday, Porto Sudeste will pay $62.5 million to Mineração ... Read More »

Brazilian ethanol exports down sharply in May

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BRASILIA: Brazilian ethanol exports tumbled in May, down 35% month on month at 83.6 million liters and down 30% from a year ago, SECEX data showed. The FOB price declared by shippers to customs was on average $555.90/cu m, down 7% from April, but up 20% from a year ago. The S&P Global Platts assessment of FOB Santos anhydrous averaged ... Read More »

Brazil’s industry unexpectedly strengthens this year

Ukraine’s international reserves rise in February

RIO DE JANEIRO: Industrial output in Brazil unexpectedly grew in April for the first time since December, government data showed on Friday, underpinning hopes of a gradual economic recovery. Industrial production rose 0.6 percent in April from March after seasonal adjustments, government statistics agency IBGE said, compared with expectations for zero growth in a Reuters poll of economists. IBGE also ... Read More »

Brazilian Police confiscate 60 automatic rifles at Rio airport

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RIO DE JANEIRO: Police confiscated 60 automatic rifles found in a cargo shipment Thursday at Rio de Janeiro’s international airport, Brazilian authorities said. The weapons were discovered in a container along with pool heaters in the cargo section of Galeao International Airport. Four people were arrested, and a Brazilian citizen is being investigated in Miami, where the shipment originated, officials ... Read More »

Brazil’s unemployment rate falls for first time since 2014

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RIO DE JANEIRO: Brazil’s sickly economy got an unexpected glimmer of good news Wednesday with unemployment figures showing a slight dip to 13.6 percent rather than yet another record rise. It was the first fall in unemployment figures since 2014 and came amid expectations that Latin America’s biggest economy is finally emerging from its worst recession in history. The IBGE ... Read More »

Brazil’s BRF says problems in ports may cut poultry, pork exports

Denmark optimistic for a come-back in poultry exports

BRASILIA: Brazil’s BRF SA, the world’s largest poultry exporter, said on Wednesday that interruptions in operations at two Brazilian ports due to bad weather in recent days will negatively impact its exports. Strong winds and rains in southern Brazil have closed loadings at the top meat exporting port of Itajaí, in Santa Catarina state, for several days. Speaking at an ... Read More »

Despite crisis, Brazil seeks OECD membership to impress investors

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BRASILIA: Brazil entered with a formal request seeking membership at the Organization for Economic Co-operation and Development (OECD). In a letter to Secretary-General Angel Gurría, Brazil said that joining the organization “is part of a wider strategy of the Brazilian government to consolidate a path for sustainable and inclusive development.” Still battling its worst recession in history, Brazil wants to ... Read More »

Santos Port accounted for 27% of Brazil’s foreign trade

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BRASILIA: The value of goods shipped out the Port of Santos, São Paulo relative to total exports from Brazil from January through April was the highest so far this year, at USD 31.7 billion. The amount is equivalent to 27.6% of total revenue from Brazilian exports, which was USD 114.9 billion, the Brazilian Ministry of Industry, Foreign Trade and Services ... Read More »

Brazil meat scandal continues to rock exports as demand takes a hit

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BRASILIA: The Brazilian company at the heart of a recent meat scandal, JBS, has temporarily suspended beef production at 33 out of 36 of its plants. However, production is set to resume this week, the company reports. JBS is the largest meat processor in the world and has been embroiled in a food fraud scandal since March this year causing ... Read More »

Brazil expanding crude export options

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RIO DE JANEIRO: Major oil producers in Brazil are starting to diversify their export strategies in anticipation of an expected leap in exports to around 2.6mn b/d in 2026, from 798,000 b/d in 2016. Current oil production of around 2.5mn b/d is forecast to double by 2026, but limited refining capacity means more of that crude, particularly medium grades from ... Read More »

Brazil to revise legislation to attract investment in port sector

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BRASILIA: Brazilian Transport Minister Maurício Quintella has revealed that changes to legislation signed by President Michel Temer could attract up to $7.5 billion in the ports sector. One of the most important measures was increasing concessions from 25 years to 35 years for contracts that were signed after 1993. These could even be extended up to 70 years. However, since ... Read More »

Brazilian exports suffer in wake of meat scandal

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BRASILIA: The volume of meat exports from Brazil has fallen in the wake of the meat scandal that hit the country in March. Exports from Brazil fell by 3% in March and by 16% in April, following positive movements in export volumes during the first two months of the year. The Brazilian meat scandal erupted in March when an investigation ... Read More »

Brazil soybean exports to rise as currency drops

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BRASILIA: Brazilian farmers are rushing to sell soybeans after a 7 percent drop in the real currency made their supplies more affordable than exports from the United States. Farmers in Brazil, the world’s second-biggest producer of soybeans after the United States, were selling beans on Thursday that had been locked up in storage bins for weeks because the currency’s strength ... Read More »

Brazilian aluminum import quota drying up; 6% tariff to be imposed

A worker drives a forklift to transport aluminum bars at a factory in Anshun, Guizhou province, China, in this July 1, 2013 file picture. REUTERS/Stringer/Files ATTENTION EDITORS - THIS PICTURE WAS PROVIDED BY A THIRD PARTY. THIS PICTURE IS DISTRIBUTED EXACTLY AS RECEIVED BY REUTERS, AS A SERVICE TO CLIENTS. CHINA OUT. NO COMMERCIAL OR EDITORIAL SALES IN CHINA.

BRASÍLIA: Imports of primary aluminum into Brazil will be temporarily subject to a 6% import tariff over the all-in price as the 173,000 mt quota for tax-free orders will no longer be available. Market participants said Tuesday that the import licenses with the tariff exemption are no longer being issued. The country’s foreign trade ministry, or Mdic, said in an ... Read More »

Brazil police probe BNDES loans to JBS

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SAO PAULO: Brazil federal police are investigating loans by development bank BNDES to JBS SA, a police source said on Friday, in the latest scandal encircling the world’s largest meat processor. Police had earlier said they would detain 37 people for questioning and conduct 20 search and seizure warrants as part of a probe into an unnamed meatpacker. Starting in ... Read More »