A structured operation in the government to support energy distributors through loans due to the impacts of the coronavirus on the sector will involve a ceiling value of R$ 15.6 billion ($ 2.8 billion), according to the National Electric Energy Agency (Aneel). According to the Ministry of Mines and Energy, the sector has had an accumulated default of 10.16% since March 18, against a monthly average of 2.4% in the first half of 2019.
China, the main global pork consumer, imported a record 400,000 tonnes of pork in April, a jump of almost 170% year-on-year, customs data showed, with buyers taking advantage of low prices to stock the product. China imported 1.35 million tonnes of pork in the first four months of the year.
The developer of renewable generation projects Casa dos Ventos signed a long-term private contract for the sale of energy to the technology company Tivit, in a deal that helps to remove a wind farm in Rio Grande do Norte, estimated at R$ 2.4 billion ($ 437 million). Work on the plant that will meet the contract began in April.
Ipea released a survey of opening and closing companies throughout the period of social isolation, caused by the coronavirus. The highlight is due to the reduction in the opening of companies, which fell 72% this year compared to a similar period in 2019. 1,265 companies were opened in this interval against 4,471 last year.
Engie Brasil and the National Bank for Economic and Social Development (BNDES) signed financing contracts for the implementation of the Campo Largo 2 wind farm and the Gralha Azul transmission system. Together, the contracts provide for more than R$ 2.7 billion ($ 490 million) in financing.
Brazilian agribusiness contracted 5.6% in March compared to March 2019, already under quarantine effects due to the coronavirus pandemic, the Getúlio Vargas Foundation (FGV), which elaborates, through its Centre, recently announced. of Agribusiness Studies (GV Agro), the Agroindustrial Production Index (PIMAgro) – Physical Production.
The Electric Energy Trading Chamber (CCEE) reported that it transferred about R$ 538 million ($ 98 million) from the Energy Development Account (CDE) to electricity distributors, as a way to mitigate the effects of the coronavirus in the sector, which suffers with default and drop in consumption.
Brazil may close the month of May with soybean shipments of 14.7 million tons, according to a weekly survey by (Anec). The expected volume had a slight increase compared to the previous week’s report, which indicated 14 million tons. According to the association, in the month to May 16, the country has already shipped 7.5 million tons of soybeans.
Eletronorte raised R$ 1 billion ($ 132 million) from Bradesco BBI to settle debts that the company held with Eletrobras – its parent company – and other creditors. According to a statement released by Eletrobras on Monday, the fundraising took place through a short-term Bank Credit Note, maturing in 12 months and with an interest rate of CDI + 2.62% per year.
The Confederation of Agriculture (CNA) projects that the Gross Value of Production (VBP) of 2020 will reach R$ 728 billion ($ 132 billion), an increase of 11.8% in relation to last year. The CNA notes that “the difficulties in commercialisation in the face of the coronavirus pandemic (Covid-19) should affect the realisation of the VBP in the sector’s billing in the coming months”.