Month: July 2020

Brazilian beef exports rise 9%

Brazilian exports of beef (fresh and processed) grew 9% in the first half of 2020, at 909,725 tons, compared to the same period in 2019, reported the Abrafrigo. In revenues, there was a jump of 26% to $ 3.9 billion. In June, Brazil sold 172,361 tons, an increase of 28% compared to the same month in 2019 and a record amount for the period.

Vehicle production in Brazil will drop 45% by 2020

Anfavea released a new production projection this year. The entity now estimates 1.630 million vehicles. This represents a drop of 45% compared to 2019. The entity started the year expecting growth of 7.3%. Anfavea has also revised its export expectation. The entity expects the sector to export 200 thousand vehicles, which represents a decrease of 53% compared to last year. January’s projection was for a reduction of 11%.

Solar energy has tripled in Brazil in 1 year

The small solar power generation systems reached 3 GW of installed capacity in the country, enough to supply 1.2 million homes, according to Absolar. This type of generation has tripled in Brazil in the last 12 months, and has grown 45% in the last six, despite the pandemic. Overall, Brazilians have invested more than R$ 15 billion ($ 2.8 bn) in solar energy.

Renewable energy could generate 29.5 million jobs by 2030

The global renewable energy sector could reach the 29.5 million jobs worldwide by 2030. The Brazilian solar sector has already generated over 165,000 jobs since 2012. With 5.7 GW of total operational power, the sector brought more than R$ 30 billion ($ 5.6 bn) in new private investments to Brazil. In the first five months of 2020, the sector created more than 37,000 jobs in the country, even with the drop in economic activity due to the Covid-19 pandemic.

BNDES provides $944 mn for SME’s

The National Bank for Economic and Social Development (BNDES) reached a total of R$5 billion ($944 mm) for micro, small and medium businesses in the working capital loan line. According to BNDES, 16,318 operations have already been approved with 15,094 companies, employing 372,800 people, with an average value of R$318,000 ($60k) per operation.

CPFL directs $1.5 mn in incentives to exchange electric motors

Companies in São Paulo and Rio Grande do Sul, which exchange old engines for more efficient technologies, may have a bonus of up to 40% in the acquisition of the new model. This is the motto of an action developed by CPFL Energia in partnership with the manufacturer Weg. The energy company will invest R$8.1 million to CPFL Paulista, CPFL Piratininga, CPFL Santa Cruz and RGE.

Brazil’s EMBI+ projected to close 2020 with an average of 350 points

Since the outbreak of the coronavirus, Brazil has risen from 210 to 388 points between February and June on JPMorgan’s EMBI+ (Emerging Markets Bond Index). This indicator works as a thermometer of the level of confidence that foreign investors have in emerging countries. Consultancy Macrosector project that EMBI+ Brazil could close the year with an average of 350 points. If this estimation is correct, it would be the worst result since the impeachment of president Dilma Rousseff in 2016, when the index hit 384 points.

Minister of Agriculture states that “Agribusiness doesn’t need the Amazon”

According to the Minister of Agriculture, Tereza Cristina, agribusiness does not need the Amazon to expand its production in the country. This statement is made at a time when Brazil is leading record of deforestation in the largest tropical forest on the planet. The minister says that part of the criticism is related to commercial interests and competition, and that agro, despite the pandemic, has increased exports and domestic consumption.