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Brazil’s pulp exports up 13.5% in September


BRASÍLIA: The balance of trade surplus of the Brazilian planted tree industry totaled $4.9 billion from January to September 2016, recording a high of 5.4% year-over-year ($4.6 billion), as the Brazilian Tree Industry (Ibá) said in the press release received by Lesprom Network. September 2016 year-to-date, exports values have remained stable compared year-over-year ($5.7 billion); pulp contributed positively with $4.1 ... Read More »

Brazil’s current account balance likely to have improved further in Oct

current account

BRASÍLIA: Brazil’s external balances are expected to flatten soon, given that imports are stabilizing. Last year, Brazil’s current account balance improved to a deficit of USD 58.9 billion from a deficit of USD 104.2 billion in 2014. In other words, the current account deficit came in at 3.1 percent of the GDP in 2015 from 4.3 percent of GDP in ... Read More »

OECS and Brazil agree to promote more trade and investment


CASTRIES: The November 14-17 Brazilian-OECS Business and Parliamentary Mission to Saint Lucia and the OECS has ended with several projects identified for follow-up by business interests in Brazil and Saint Lucia – and the rest of the OECS. While there, the Brazilian businesses seeking to do business in the small Eastern Caribbean islands also engaged with their counterparts in the ... Read More »

Brazil mulls sharing fine revenues with struggling states


BRASÍLIA: Brazil’s federal government is considering sharing 5 billion reais ($1.5 bln) in fines from an asset repatriation program with cash-strapped states as the economy struggles to pull out of its worst-ever recession, a presidential aide told Reuters on Thursday. Last week, Brazil’s Supreme Court froze that amount after state governments filed suits to demand President Michel Temer share the ... Read More »

Brazil exports of gold, iron, steel products to US jump


BRASÍLIA: Brazil exported 1.82Mt of semi-manufactured iron and steel products to the US in January to October compared with 2.52Mt in the same 10 months of 2015, foreign trade department Secex said. Export revenue from the products slumped 40.4% to US$563mn. Shipments of semi-manufactured steel alloy products to the US jumped to 1.36Mt from 1.02Mt, and revenue increased 18.5% to ... Read More »

Brazilian beef exports continue to grow

grow heigher

BRAZIL: The Brazilian beef industry ended the month of October with more than US$ 449 million in exports, according to the Brazilian Association of Meat Exporters (Abiec). During the period, shipments totalled 107,000 tonnes. China returned to the first place among the countries that bought Brazilian beef, with billing of US$ 94 million (38 per cent more than the previous ... Read More »

Brazil catches fuel distributors, stations selling methanol illegally

fuel subsidies

BRASÍLIA: Brazil regulator ANP on Monday temporarily shut down filling stations and fuel distributors in Rio de Janeiro state after agents found they were selling methanol, a banned fuel additive that is considered a health risk. The agency said in a statement that it detected methanol in BR Distribuidora filling stations run by the state-run oil company Petrobras, Royal-Dutch Shell ... Read More »

QP affiliate signs LNG deal with Brazil firm


BRASÍLIA: Qatar Petroleum said its affiliate Ocean LNG Limited has signed a deal to provide 1.3 million tons per annum of LNG to Brazil based CELSE-Centrais Elétricas de Sergipe (CELSE) from 2020. The shipments will be for use at CELSE’s Porto de Sergipe power project near Aracaju, in the Brazilian state of Sergipe. Qatar Petroleum President and CEO Saad Sherida ... Read More »

Brazil’s October iron ore exports to China fall 6.2% YOY

iron ore

SAO PAULO: Brazil exported 17.58 million mt of iron ore to China in October, down 6.2% year on year, the trade ministry said Friday. However the value of the ore shipped to China rose 1.1% to $612 million FOB, with an average price of $34.81/mt FOB, up from $32.28/mt in October 2015. China took 59% of the 30.01 million mt ... Read More »

Petrobras asset sales fuel Brazilian M&A revival

A worker paints a tank of Brazil's state-run Petrobras oil company in Brasilia, Brazil September 30, 2015.  REUTERS/Ueslei Marcelino

BRASÍLIA: Drive down any highway in Brazil and it is impossible to avoid the square green-and-gold signs bearing the initials “BR” that announce Petrobras petrol stations. With 7,500 roadside outlets, the state-owned oil company remains one of the country’s most recognised brand names. But soon, its petrol distribution network — the biggest in Brazil — will have a new private-sector ... Read More »

Petrobras says imports by competitors cut its market share


SAO PAULO: Brazilian state-controlled oil company Petroleo Brasileiro SA said on Wednesday that increasing volumes of diesel and gasoline imports by competitors have reduced its market share in the local fuel market. Petrobras Refining Director Jorge Celestino told reporters during a press conference in Rio de Janeiro that the increase in fuel imports by other companies in Brazil in September ... Read More »

Brazil to boost sugar output, ethanol imports next season


BRASÍLIA: Brazil is expected to produce around 2 million tonnes more sugar and import a high ethanol volume next year as mills tend to allocate more cane to produce the sweetener, consultancy Datagro said on Monday. The 2017-18 center-south cane crop should not change much from what is seen for the current season despite the favourable market condition, as an ... Read More »

Brazil freezes Rio’s accounts over unpaid debt


RIO DE JANEIRO: The Brazilian government froze Rio de Janeiro state’s bank accounts yesterday, ordering the struggling state to pay up on US$53 million (RM223 million) in overdue debt. Rio, one of the states hardest hit by a deep recession in Brazil, “is blocked from making any kind of payment until the amount it owes the state has been paid,” ... Read More »

HSBC profit falls 86% on Brazil disposal

profit downs

BRASÍLIA: HSBC’s third-quarter profits have fallen sharply after it booked a loss from the sale of its Brazilian unit. Pre-tax profit at Europe’s largest bank dropped to $843m (£678m), down from $6.1bn in the same period a year ago. HSBC took a $1.7bn loss on the sale of its Brazilian unit, and it also pointed to customer compensation in America ... Read More »

Brazil mission to Saint Lucia and OECS


BRASÍLIA: Preparations are in final stages here for next week’s Brazilian Parliamentary and Entrepreneurial Mission to Saint Lucia and the OECS, which hopes to open brand new streams of business through a new window of opportunities based on investments and services between the South American nation and its small island neighbor(s) to the north. The Brazilian Embassy here last month ... Read More »

Brazil sees record-breaking trade surplus in 2016


RIO DE JANEIRO: In figures released on Tuesday, November 1st, from January to October of this year, Brazil registered a US$38.5 billion trade surplus. According to Brazil’s Ministério da Indústria, Comércio Exterior e Serviços (Ministry of Industry, Foreign Trade and Services), the figure represents the largest trade surplus the country has ever recorded for the period and is more than ... Read More »

Brazilian pulp exports increased by 12.7% in January- July


BRASÍLIA: The planted tree industry of Brazil continues to stand out due to its important contribution to the country’s balance of trade surplus. From January through July 2016, the sector recorded a $ 3.8 billion surplus, a 7.2% growth year-over-year. Exports revenue from pulp, wood panels and paper was mainly responsible for this result, reaching R$ 4.4 billion ($1.4 billion) ... Read More »

GM Brazil’s head calls for less incentives, more competitiveness


SÃO PAULO: based GM South America, headed by Barry Engle, has reaffirmed temporary fiscal incentives proved fruitless in improving the Brazilian motor industry’s competitiveness in recent years. He told the Perspectives 2017 seminar organised by Autodata, also in São Paulo, the strategy of mitigating market downturns through IPI excise tax cuts for medium to lengthy periods did not work at ... Read More »

BMW plant in Brazil starts motorcycle production


BRASÍLIA: South America is becoming a big player in the automotive world, with several companies having plants there to meet demand for vehicles. The latest brand to start building there is BMW’s motorcycle brand, BMW Motorrad, which is starting production at the BMW Group plant in Manaus, Brazil. The building of BMW motorcycles in Brazil is significant because this is ... Read More »

Brazil to attend oil output talks with OPEC tomorrow


BRASÍLIA: Brazil – a non-OPEC producer with a fast-growing oil output – will be joining other non-OPEC members, including Russia, at Saturday’s discussion with the cartel producers about possible cooperation on production freeze or cut, Bloomberg reports, quoting a text message by Brazil’s energy minister Fernando Bezerra Coelho Filho. Brazilian Oil and Gas Secretary Marcio Felix will be attending the ... Read More »