Month: July 2020

Exports of Brazilian citrus fruits rise to 158%

The crisis, caused by the pandemic, has boosted the sale of Brazilian citrus fruits to other countries. In six months, these fruits were responsible for $57.1 million in exports, which represents an 8% increase in the exported value. The data is part of a study made by the National Confederation of Agriculture (CNA), based on information from the federal government.

Ipea proposes 0% interest in credit to SMEs for GDP growth

Micro and small businesses (MSEs) are vital to the economy. Together, they represent 96.6% of businesses and contribute to about 30% of the Brazilian gross domestic product (GDP). A report by Ipea argues that Brazil should offer subsidized credit to MSEs. The proposal is for a line to be created with interest equal to zero and a one-year grace period, with credit conditional on the maintenance of jobs for a period of up to six months after the end of social isolation.

Bradesco, Itaú and Santander launch sustainability plan for the Amazon

The country’s three largest private banks have come together to create a sustainable development plan for the Amazon. The material prepared by Bradesco, Itaú Unibanco and Santander includes ten measures on environmental conservation. It also includes development of the bio-economy, investment in sustainable infrastructure and guaranteeing the basic rights of the population of the Amazon region.

Natural gas consumption in Brazil drops 25%

Total natural gas consumption in Brazil in May fell by 25.4% compared to the same period last year, when it totalled 40.6 million m³ per day, due to the impact of the coronavirus, said the Brazilian Association of Piped Gas Distribution Companies (Abegás). The industrial segment, which is responsible for most of the product’s consumption, registered a 24% drop in the annual comparison, with 21.8 m³ metres per day.

Brazilian primary deficit expected to end 2020 at $157.6 bn

The decline in revenues caused by the pandemic should raise the primary deficit to R$787.45 billion ($157.6 bn) in 2020, the Ministry of Economy said. The primary deficit represents the negative result in the government’s accounts, not considering interest on public debt. In relation to estimates for the economy, the report maintained most projections and the GDP forecast remained at 4.7%.

Renewable sources used in Brazil are three times higher than worldwide

In Brazil, renewable energy sources reached a 46.1% demand for participation in the Energy Matrix, an increase of 0.6% over 2018, according to the MME. The Brazilian indicator represents three times the world indicator. Total energy demand reached 294 million toe, showing a growth of 1.4% over 2018, above the GDP rate (1.1%), and accounting for 2% of world energy.

Brazil exports more soybean oil with drop in biodiesel

The negative impact of Covid-19 on the Brazilian diesel demand has also reduced the necessity of biodiesel, increasing the exportable surplus of soy oil, the main ingredient of the biofuel mixed in 12% in the Brazilian fossil product. Through Cattalini’s facilities are expected to export 850 thousand tons of soy oil in 2020, versus 672 thousand in 2019.

Petrobras sells 10% of TAG for $ 193mm

Petrobras sold the remaining 10% of the Associated Gas Transport Company to CDPQ for just over R$ 1 billion ($193mm). With this acquisition, Engie’s total shareholding in TAG increases to 65%, of which 32.5% belongs to Engie Brasil Energia and another 32.5% to GDF International, while CDPQ holds the remaining 35%.

Brazil’s mining industry revenues grow 9% in Q2

The Brazilian mining sector’s revenues reached R$ 39.2 billion ($ 7.8 bn) in the second quarter, up 9% compared to the first three months of the year, pointed out the Brazilian Mining Institute (Ibram). Brazil’s iron ore producers, including Vale, accounted for 59.3% of the country’s total mining sector revenues in the second quarter, with R$23.3 billion ($ 4.7 bn).