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Brazil federal tax revenue edges up in 2017 as economy recovers

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BRASILIA:  Brazil’s federal tax revenue edged up in 2017 as the country’s recovery from the deepest recession in decades advanced, government data showed on Friday. Federal tax revenue rose 0.59 percent from 2016, after discounting for inflation to 1.342 trillion reais ($427 billion). Tax collection in December came in at 137.842 billion reais, up 4.93 percent in real terms from ... Read More »

Brazil to propose tax discounts for electric cars

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BRASILA: Brazil will propose tax discounts for electric cars in order to stimulate sales, the industry ministry (MDIC) stated. The initiative is part of the new public policy for the sector, dubbed Rota 2030, the format of which is being finalized by the MDIC. We need to think of the future. We want Brazil to be a strong country with ... Read More »

Brazil’s share of soybean exports to China hits record

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BRASILA: Brazil’s share of soybean exports to China, the world’s top buyer of the commodity, grew to the largest on record in 2017 and looks set to expand again this year, helped by competitive prices and the high protein content of its crops. That’s another potential blow to rival exporter the United States as it grapples with tougher quality rules ... Read More »

Brazil Beef exports tipped to rise

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BRASILA: Competition in global markets is set to become more intense in the coming year, as global beef production is pegged to increase by 1.3million tonnes in 2018, according to Rabobank’s latest Global Beef Quarterly report. With production volumes expected to outpace domestic consumption, the report says exports will become ‘‘more critical’’ and ‘‘shift the balance of power in favour ... Read More »

Brazilian sweets and snacks to feature at ISM

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BRASILA: Brazilian companies will be showcasing a range of new chocolate and sweets combinations at ISM 2018, the sweets and snacks trade fair that takes place in Germany later this month. Brazil’s confectionery and cereal-based packaged food industries will be represented by 19 companies at the fair in Cologne, featuring ‘healthier’ products made with local Brazilian ingredients. Last year, Brazilian exports ... Read More »

Politics also set the tone in Brazil’s HRC trade case

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BRASILA: The decision by the Brazilian government to suspend anti-dumping duties against hot-rolled coil (HRC) imports from China and Russia was motivated not only by fears that the measure would injure consuming sectors, but also by concerns that it would affect cooperation between the countries. “The imposition of the anti-dumping measure could affect the political agenda of economic cooperation with two ... Read More »

Bulk carrier rates sink as Brazil’s iron ore exports wane

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BRASILA: Charter rates for bulk carriers have plunged as iron ore exports from Brazil slow and inventories of the mineral pile up in China. The charter rate for a benchmark capesize ship, which has a cargo capacity of about 180,000 tons, has dived 40% since early January to around $12,300 per day on average for major routes. That represents a ... Read More »

Brazilian pig iron export prices increase in firm market

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BRASILA: Firm market conditions have led export prices for Brazilian pig iron to rise for the second week in a row. Metal Bulletin’s weekly price assessment for Minas Gerais-origin pig iron exports increased to $370-375 per tonne fob on Friday January 19, from last week’s $360-370 per tonne fob. A 30,000-tonnes cargo of material produced in Brazil’s south. Read More »

Brazil’s stance on HRC sanctions ‘will create import opportunities

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BRASILA: The decision by the Brazilian government not to impose final trade sanctions against imports of hot-rolled coil (HRC) from China and Russia is expected to create import windows and to raise the pressure on local producers, according to market participants. The option to immediately suspend the sanctions came despite the confirmation of dumping practices by the two nations. “The ... Read More »

Brazilian ethanol prices open window for U.S. imports

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BRASILA: Brazil will spike during the coming months as high gasoline prices and low ethanol supplies drive up demand in the South American country, according to two traders and two brokers active in the market. The southward flow comes as a setback to Brazil’s efforts to curb foreign shipments. Its government in September slapped a 20 percent tariff on U.S. ... Read More »

Sugar Extends losses as Brazil considers lifting tariff on U.S. Ethanol

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BRASILA: Sugar futures extended losses Tuesday after reports that Brazil’s agriculture minister said the country is considering lifting a tariff on U.S.-produced ethanol, raising concerns about additional supplies of sugar pressuring the market. Raw sugar for March recently fell 1.1% to 13.44 cents a pound on the ICE Futures U.S. exchange. On Tuesday, sugar shed 4.2% to 13.59 cents a ... Read More »

Brazil considers lifting tariff on U.S. ethanol

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BRASILIA: Brazil is studying the removal of a 20-percent tariff on ethanol imports from the United States, Agriculture Minister Blairo Maggi said on Wednesday, in a decision that could depend on Washington lifting a ban on fresh beef exports from Brazil. Last year, Brazil imposed a 20-percent tax on ethanol imported from the U.S. that exceeds a 600 million liter ... Read More »

Shares in Brazil’s GPA rise on revenue gains

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BRASILA: Shares in Brazilian food retailer GPA SA rose well over 1 percent on Monday morning after the company posted gains in fourth quarter revenue, as a nascent recovery in consumption boosted sales. The company said on Monday its fourth quarter net revenue rose 6.8 percent from last year to 12.5 billion reais ($3.91 billion) with a strong performance at ... Read More »

Melons and mangoess led Brazilian fruit export growth in 2017

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BRASILA: A strong uptick in fruit exports last year makes ambitions to raise shipments by 50% over five years a conceivable goal for Brazil, which recently launched a new fruit industry development plan. The Brazilian Foreign Trade Information Analysis System (Aliceweb) has recently released its export data for 2017, with positive results for fruit volume and even better figures for ... Read More »

Brazil’s balance of trade reached $67b surplus in 2017

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BRASILA: The recovery in commodity prices and a record crop led Brazil’s Balance of Trade to achieve the biggest annual surplus ever. Considering full 2017, the country’s trade surplus widened 41 percent from 2016 to USD 67 billion. The Balance of Trade in Brazil averaged 801.87 USD Million from 1959 until 2017, reaching an all-time high of 7661.35 USD Million ... Read More »

S&P cuts Brazil debt rating as pension reform doubts grow

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BRASILIA: Ratings agency Standard & Poor’s cut Brazil’s credit rating further below investment grade on Thursday as doubts grew about a presidential election in October and a push to trim its costly pension system, seen as vital to closing a huge fiscal deficit. S&P lowered its long-term rating for Brazil sovereign debt to BB- from BB previously, with a stable ... Read More »

Brazil exports of iron ore to China up 1.5% in 2017

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BRASILA: Brazilian iron ore exports to China in 2017 totaled 216.09 million mt, an increase of 1.5% from 2016, accounting for 61% of total Brazilian iron ore exports of 353.26 million mt, Ministry of Trade and Development data showed Tuesday. However, the sales value of shipments to China last year jumped 42% to $10.24 billion FOB, from $7.2 billion FOB ... Read More »

Siemens Gamesa is said to be in talks on 700 MW wind deals in Brazil

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BRASILA: Siemens Gamesa Renewable Energy SA is in final negotiations to supply about 700 megawatts of wind turbines for power plants in Brazil, according to people familiar with the talks. The deals are to supply equipment for projects that Voltalia SA, EDP Renovaveis SA, Enel Green Power SpA, and Neoenergia SA are developing in northeast Brazil, according to the people, ... Read More »

Vehicle exports from Brazil break record

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BRASILA: Exports of automobiles, light commercial vehicles, trucks and bus chassis from Brazil hit an all-time high in 2017 at over 762,000 units shipped, the National Motor Vehicle Manufacturers Association (Anfavea) reported this Friday (0). Shipped volume was up 46.5% from 2016 and exceeded the previous record of 725,000 units, from 2005. Revenue soared by 48.6% to USD 15.851 billion. ... Read More »

Brazil cotton output up 18.6% to 1.5mn tons in 2016-17

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BRASILA: Brazil’s cotton output in the 2016-17 season increased 18.6 per cent year-on-year to 1.529 million tons, pushed up by the 20.6 per cent increase in the average productivity, since area under the crop decreased 1.7 per cent to 939,100 hectares. The weather favoured crop development during the growing season, but hampered the harvesting season. Domestic textile consumption increased by ... Read More »