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Melons and mangoess led Brazilian fruit export growth in 2017

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

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

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

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

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

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

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 »

Omtatah contests Brazilian sugar imports in court again

BRASILA: The High Court will today hear the case where activist Okiya Omutatah want 50,500 metric tonnes of brown sugar imported from Brazil by Sony Sugar barred from entering the Kenyan market. This is after the same court granted the petitioner temporary prohibitory order to block the importer from offloading the sugar which docked at the Port of Mombasa on ... Read More »

Brazil Petrobras receives tax assessment for $17b reais

BRASILA: Brazil’s state controlled oil company Petroleo Brasileiro said on Tuesday it has received a tax assessment for 17 billion reais ($5.22 billion) related to international money transfers to hire freight services in 2013. Petrobras said another 45 billion reais are currently in dispute with tax authorities for a similar issue. The company will analyze whether to take advantage of ... Read More »

Brazil imports of refined products to hit at least 17year high in 2017

BRASILA: Brazil will import more refined oil products this year than any other since records began in 2000, as state controlled oil giant Petroleo Brasileiro loses market share to private firms. In the first 11 months of the year, Brazil imported nearly 207 million barrels of refined products, 25 percent above the same period in 2016 and up from any ... Read More »

Brazil says beef exports to U.S. may resume

BRASILA: Brazilian officials expect to resume fresh beef exports to the United States in early 2018. In a news conference, Brazil’s Agriculture Minister Blairo Maggi said the country will resume “very soon” beef exports to the United States. The U.S. has not made any announcements about lifting its ban on Brazilian fresh beef. In June the U.S. suspended Brazilian fresh ... Read More »

Brazil fertiliser imports from Arab nations rise 38%

BRASILA: Brazil imported 5.9 million tonnes of fertiliser from Arab countries from January to November this year, accounting for nearly 24 per cent of the South American’s total global fertiliser imports. According to figures compiled by the Arab Brazilian Chamber of Commerce, Morocco and Saudi Arabia are Brazil’s major Arab markets for fertiliser, with other markets including the UAE, Egypt, ... Read More »

Automotive agreement between Brazil and Colombia goes into effect

BRASILA: After two years of waiting, an agreement that raises vehicle import tariffs between the two countries promises to strengthen bilateral relations. With the opening of the country to foreign trade, another commercial agreement advanced to boost the Brazilian industry. Ordinance published on Friday (22) by the Ministry of Industry, Foreign Trade and Services (MDIC) zeroed import tariffs for vehicles ... Read More »

Brazil tax collection expands through November

BRSILA: Tax collection in Brazil increased through November, among other factors due to the country’s economic recovery. The collection of taxes amounted to 1.2tn reais (US$366bn) in January November, up 0.13% in real terms from the year-ago period, according to figures from the country’s tax authority. In November, tax collection picked up 9.5% to 115bn reais.  After a deep recession ... Read More »

Russia threatening Brazil with a ban on soybean imports

BRASILA: The Federal service for Veterinary and Phytosanitary Surveillance (RosSelkhozNadzor) is worried that an increasing number of soybean cargoes arriving from Brazil contain pests which are considered quarantine organisms in Russia and the Eurasian Economic Space. Quarantine pests have been revealed 20 times over the last one and a half months and 127 times since the beginning of 2017 against ... Read More »

BRAZIL Ibovespa rises 0.25% on expectation on tax reform in U.S,

BRASILA: Brazil, closed up 0.25% at 72,607.69 points on Friday, influenced by the positive external scenario, after indications from U.S. senators that Donald Trump’s tax reform must be approved. The index had a turnover of R$ 17.6 billion, driven by the auction of Ita?sa shares conducted by the Petros pension fund, which handled R$ 4.54 billion. According to Vitor Suzaki, ... Read More »

Brazil decree opens door to Russian wheat imports

BRASILA: Brazil’s Ministry of agriculture, livestock and food supply (MAPA) on Dec. 13 issued a decree outlining the steps importers will need to take to purchase and unload wheat from Russia. Previously, Russian wheat was not allowed to be processed in Brazil. According to MAPA, the Russian wheat may only be used for consumption, and not as seed. “The International ... Read More »

Brazil extends preferential customs regime for oil industry

BRASILA: Brazil’s chamber of deputies approved an extension of a preferential customs regime for the oil industry to entice investment in a vote late on Wednesday, according to the lower house’s news agency website. The measure was approved without an amendment proposed in the Senate earlier this week that would have reduced the extension of certain benefits through 2022, instead ... Read More »

Oil companies in Brazil will get tax breaks until 2040,

BRASILA: Brazil’s Chamber of Deputies rejected on Wednesday an amendment passed by the country’s Senate on Tuesday and upheld a bill that guarantees tax breaks to the world’s largest petroleum companies operating in the country until 2040. On Tuesday, December 12th, the Senate had amended the Chamber’s bill for the fiscal breaks to be given only until 2022. “I think ... Read More »

Brazil Senate OKs Repetro oil sector customs regime extension,

BRASILIA: Brazil’s Senate on Tuesday gave the green light to an extension of a preferential customs regime for the oil industry that has made the country more attractive to major global oil companies, sending the measure to the lower house for final approval. The so called Repetro scheme, which suspends import duties on equipment used in oil exploration and production, ... Read More »