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Brazilian corn prices look set to fall

fall in revenue

BRASÍLIA: Brazil’s soaring corn prices appear to have reached their peak, analysts say, as the looming arrival of the second crop promises to ease tight supplies. Corn prices in Brazil have been soaring, after heavy exports depleted domestic stocks, ahead of the main safrinha, or second crop, harvest. According to the Brazilian economic think-tank Cepea, corn prices in Sao Paulo have ... Read More »

Brazilian JBS increases Middle East revenues


SÃO PAULO: The Brazilian meatpacking company JBS increased sales to the Middle East and Africa in 2015. According to the balance report released by the company this Thursday (17), the participation rate of Middle East and Africa countries in the total of exports also increased, despite a decline in revenues with shipments in the period. In a statement, the company’s ... Read More »

Brazil’s consumer inflation slows in March


BRASÍLIA: Brazil’s consumer inflation slowed more than expected in March as a prolonged recession curbed demand for goods and services in Latin America’s largest economy. The benchmark IPCA consumer price index rose 0.43 percent from the previous month, following a 0.9 percent jump in February. That was lower than the median forecast for a 0.46 percent increase from 41 economists surveyed ... Read More »

Brazil banks to step up loan refinancing deals this year

soft loans

BRASÍLIA: Banks in Brazil will step up corporate loan refinancing deals this year, the central bank said on Thursday, suggesting the impact of the harshest recession in over a century and escalating political turmoil are hurting the ability of factories, shops and farmers to honor their debt. According to the central bank’s semi-annual financial stability report, banks are having a ... Read More »

Brazil auto sales, production, exports drops in Q1


SAO PAULO: New-vehicles sales, production and exports in Brazil dropped in March and also in the first quarter of this year, amid the country’s deep and prolonged recession. Sales of cars, light vehicles, trucks and buses totaled 179,219 in March, down 23.6% from a year earlier, auto makers association Anfavea said Wednesday. In the meantime, output fell 23.7% to 195,279 units ... Read More »

Brazil announces second set of port concessions

port concession

BRASÍLIA: Brazil’s passionate Ports Minister Helder Barbalho announced that the recently delayed second tranche of port privatizations valued at more than 2.8 billion reais ($763.3 million) would go forward on June 5 at the Sao Paulo bourse. In his opening speech at the Intermodal South America conference he said Brazil would be able to overcome the political and economic challenges ... Read More »

Brazil electricity distributors see losses due to over-supply

electricity prices

BRASÍLIA: Brazilian electricity distributors said they have signed contracts to purchase more power than they need from generators, threatening big financial losses for them as the deepening recession eats into demand for energy in Latin America’s largest economy. Abradee, the association that represents the electricity distribution sector, said on Tuesday the excess supply of electric energy could undermine demand for ... Read More »

Brazil’s wind capacity reaches 8.3 GW in Feb 2016

wind power

BRASÍLIA: Brazil’s installed wind power generation capacity in February 2016 has increased by 50.1% compared to a year back, reaching 8,296 MW, according to a bulletin published by the government on Friday. The latest issue of the Monthly Monitoring Electric System Bulletin, also shows that Brazil’s total electric power generation installed capacity amounted to 142,179 MW at the end of February. ... Read More »

Hungary inks cooperation agreements with Brazil, Nigeria


BRASÍLIA: Hungary’s Minister of Foreign Affairs and Trade Péter Szijjártó held talks and signed bilateral economic cooperation agreements with his Brazilian and Nigerian counterparts on the sidelines of the fourth Nuclear Security Summit in Washington, D.C., on Friday, Hungarian news agency MTI reported today. Szijjártó told MTI that both countries have great economic potential and are seen by Hungary as ... Read More »

Brazil seeks to increase trade, exports to US

shipment increases

SÃO PAULO: Brazil’s Minister of Development, Industry and Foreign Trade (MDIC), Armando Monteiro, met with U.S. Commerce Secretary, Penny Pritzker on Thursday in Washington DC to discuss measures to increase bilateral trade between the two countries. MDIC Minister Armando Monteiro in meeting with U.S. Secretary of Commerce, Penny Pritzker, Thursday in WDC, photo courtesy of MDIC. According to the MDIC, ... Read More »

Printer shipments 22.8% decline in Brazil


BRASÍLIA: Printer shipments have seen a 22.8 percent decline in Brazil, with 2.5 million devices sold in 2015 – 800,000 less than in 2014, says analyst firm IDC. Sales totaled $676m in Brazil in 2015, a decline of 14.7 percent in relation to the prior year. Inkjet printers saw a drop in sales of 21.1 percent and laser devices sold 27.4 ... Read More »

Brazil central bank raises inflation forecasts

inflation up

BRASILIA: Brazil’s central bank raised its inflation forecast for 2016 and 2017, signaling policymakers will not cut interest rates yet despite a deepening recession in Latin America’s biggest economy. In its quarterly inflation report released on Thursday, the bank raised its 2017 inflation forecast to 4.9 percent from 4.8 percent previously. For 2016, the bank raised its forecast to 6.6 ... Read More »

Brazil imports record corn, sells stocks to contain prices


SAO PAULO: To ease near record prices for corn, Brazil’s government on Wednesday announced it would sell public stocks and proposed dropping import taxes for the grain, while the livestock industry said it booked imports of 500,000 metric tons through May. The Agriculture Ministry’s coordinator of grains, Silvio Farnese, said a total of 160,000 metric tons of corn from government ... Read More »

USCA concerned about Brazil beef imports

beef imports

BRASÍLIA: United States Cattlemen’s Association leaders remain concerned about possible beef imports from Brazil. President Danni Beer, a producer from Corson County South Dakota, says reports vary on the timing of shipments following USDA approval. Some reports indicate it could be within the next three months while others say the end of the year. Beer says the problem is the ... Read More »

Biodiesel mixture increases to 8% in Brazil


SÃO PAULO: The Brazilian government has sanctioned a law which increases the amount of biodiesel in the diesel oil mixture, from seven percent to eight percent. Since 2008 Brazil has required the use of the renewable raw material into the mixture of diesel oil. “We all gain from this, family agriculture, commercial agriculture, biodiesel producers, the Brazilian consumer and the ... Read More »

Brazil wants to enhance trade ties with Pakistan


BRASÍLIA: Ambassador of Brazil Claudio Raja Gabaglia Lins on Monday said Brazil was the most prominent trade partner of Pakistan in Latin America and his country was keen to enhance trade relations with Pakistan. He was exchanging these views with Rawalpindi Chamber of Commerce and Industry (RCCI) Acting President Saqib Rafiq during his visit to the chamber. Former RCCI president ... Read More »

Economists reduce Brazil GDP outlook for 2016, 2017


SAO PAULO: Economists reduced once again their outlook on Brazil’s economic performance for this year and next year, underscoring a prolonged recession of Latin America’s largest economy. Brazil’s gross domestic product is expected to shrink 3.66% this year, according to a weekly central-bank survey of 100 economists, compared with expectations a week ago for a 3.60% contraction. This marked the ... Read More »

Brazil’s oil giant loses billions amid corruption scandal

oil giant

BRASÍLIA: The country’s government-run oil company, Petrobras, got crushed by low oil prices last year. On Monday, it reported a net loss of 34.8 billion reais ($9.6 billion) for 2015, even deeper than its loss of 21.6 billion reais a year earlier. Petrobras is at the epicenter of Brazil’s scandalous political and economic crisis. An investigation into a massive bribery ... Read More »

Brazil’s president signs into law biodiesel blend increase


BRASÍLIA: Brazil’s President Dilma Rousseff signed on Wednesday a law increasing from 7% to 8% the mandatory share of biodiesel in regular diesel, with effect from April 2017. The new percentage will boost domestic biodiesel production, reduce the need for imports of diesel and promote family farming as well as the agribusiness. Under the 613/2015 law, as it is named, the ... Read More »

Brazil inflation likely decelerate to single digit in March


BRASÍLIA: Brazil’s inflation numbers for February indicate an end to acceleration. With the strong base effect, the nation’s inflation is likely to decelerate to single digit in March. “We expect the annual rate to ease to 9.97% yoy – the lowest level in five months – through midMarch as housing inflation falls sharply”, says Societe Generale. Through the year, inflation ... Read More »