The month of March was marked by the opening of new markets for Brazilian products and the expansion of sales in other locations. Egypt, for example, has enabled 42 Brazilian establishments to supply meat – 27 for poultry and 15 for beef – in addition to the renewal of licenses for 95 companies – 82 for beef and 13 for poultry. China also updated the list of establishments authorised as exporters of fish to the Asian country, which has not been done since 2015. Now, 108 are qualified.
Brazilian airline Azul SA has hired restructuring firm Galeazzi & Associados to renegotiate its financial and suppliers’ debt, Brazilian newspaper O Estado de S. Paulo reported on Wednesday. Azul expects to renegotiate around 15 billion reais ($2.9 billion) but not within an in-court reorganization, the newspaper reported.
Ethanol plants in the Brazilian Centre-South registered a new record by producing 33.24 billion litres (8.87 billion gallons) at the end of the 2019/2020 harvest, local sugarcane industry association Unica announced. A total of 267 plants produced 9.94 billion litres of anhydrous ethanol, 23.30 billion of hydrous ethanol and 1.62 billion of corn ethanol. The previous record was 30.95 billion litres, set during last year’s harvest.
Netflix announced the creation of a 5 million reals ($1 million) fund to support local below-the-line production employees and free-lancers not able to work due to the coronavirus pandemic. The aid will help up to 5,000 workers with one part of the local monthly minimum wage of $200.
Brazil’s government is on course to post a primary budget deficit this year of 600 billion reais ($116 billion), almost 8% of gross domestic product, due to the emergency spending and fall in revenues triggered by the coronavirus crisis, Treasury Secretary Mansueto Almeida said.
Brazil is expected to harvest 120 million tons of soy during the 2019/2020 season, according to the Mato Gross State Soy and Maize Producers Association ( Aprosoja ). The association pulls together data from technicians and farmers in 16 different states of Brazil. This year should see soy exports go up 4 million tons from 2019 to 77 million tons.
Brazil’s government proposed the direct transfer of 40 billion reais ($7.7 billion) to states and municipalities to help compensate them for the loss of revenue due to the coronavirus crisis, a counter proposal to an 80 billion reais aid package approved by the lower house of Congress last Monday.