The Confederation of Agriculture and Livestock of Brazil (CNA) estimates that the conclusion of a free trade agreement between Mercosur and Canada has the potential to increase the revenue from Brazilian exports of agricultural products by $7.8 billion. In 2019, trade in agricultural and livestock products with Canada was $628.7 million.
Brazil’s sugar exports increased by 85%, with average shipments per working day totalling 146,400 tons compared to 79,800 tons in July 2019, according to federal government data released by the Foreign Trade Secretariat (Secex). As a result, the country already exported 2.63 million tons of sugar in July, a volume higher than the total of 1.82 million tons shipped in the same month of 2019.
The trade balance review for 2020, released by the Brazilian Foreign Trade Association (AEB) in Rio de Janeiro, estimates exports of $192.721 billion, down 13.9% from $223.989 billion in 2019; and imports of $145.255 billion, down 18.1% from $177.344 billion last year.
Brazilian crude steel production fell 17.9% in the first half of this year, reaching 14.219 million tons against 17.324 million tons in the same period of last year. The drop was attributed to the 13 blast furnaces paralysed as a result of the new coronavirus pandemic, said Marco Polo de Mello Lopes, executive president of the Brazil Steel Institute, in a virtual press conference.
Eneva proposed a new proposal to BNDES, which seeks to get rid of its participation in the electricity company. The offer includes another cash payment of approximately R$2 billion ($400mm), the equivalent of R$ 1.00 per common or preferred share or R$5.00 per unit. BNDES has 28.4% of AES Tietê’s capital.