Category: Industry

Information about Brazil’s economic sectors

Brazil imports 335,000 tons of pesticides in 2019

Brazil has imported almost 335,000 tons of insecticides, herbicides and fungicides in 2019. The volume is 16% higher than in 2018 and is a record for the historical series begun in 1997, according to data from the Ministry of Economy. The growth in imports follows the growth in sales of agrochemicals in the country.

B3 companies lose $80.4 bn in market value with coronavirus

The risk aversion registered in global markets last week also did not spare Brazilian companies listed on B3. They lost R$361.63 billion ($80.4billion) in market value in the three days that the Brazilian stock exchange was open after Carnival, according to a survey by Economatica. Petrobras was the company that lost the most value in the period: it ended last Friday (28) worth R$ 48.8 billion (10.8 billion) less than a week before.

Almost half of the shares of Eucatex Company go to auction

Condemned of money laundering and imprisoned at home, former governor Paulo Maluf transferred funds that came out of public works and ended up in shares of his family’s company, Eucatex. An international collection action by the Municipality of São Paulo to recover about $230 million attributed to Paulo Maluf will result in the auction of almost half of the shares of Eucatex, a flooring and laminates company of the former governor’s family.

Air transport loses space in Brazilian exports and imports

The share of the airline sector in shipments and purchases of more expensive goods from other countries has fallen in recent years. A study by the National Industry Confederation (CNI) shows that the percentage of goods transported by planes fell from 18-7% in 2000 to 11.1% in 2018. It is a reflection of the increase in exports of basic products, such as agricultural products, which are exported mainly by sea, but also of the decrease in the sale of industrial goods.

Climate Change could reduce coffee production in Brazil by 60%

A new study indicates that climate change could devastate coffee production in Brazil. The study’s models show that Brazil’s southeastern mountain areas of Matas de Minas Gerais, as well as Montanhas, do Espírito Santo, will be a lot warmer and drier in 2050. This will mean a 60% reduction in the area that is prime for coffee production. These areas produce over 20% of Brazil’s Arabiga coffee and this could severely impact thousands of livelihoods in a negative way.

Vale preparing for potential fuel leak from damaged ore carrier

Brazilian mining company Vale SA has begun preparations for a potential fuel leak from the damaged iron ore carrier MV Stellar Banner, which is stranded off the Brazilian northern coast with 4,000 tones of fuel aboard. Vale said in a statement it requested Petrobras appropriate ships to deal with the possible leak and has arranged for the dispatch of oceanic buoys to the area. The MV Stellar Banner, owned by South Korea’s Polaris, had only started its trip to China carrying iron ore when it was stranded.

Brazil to allow for automatic approval of new agrochemicals

Brazil’s Agriculture Ministry will allow for agrochemicals awaiting regulatory approval to receive licenses automatically, potentially allowing new pesticides to reach market faster, according to new rules published in the government gazette with effect on April 1. If the ministry fails to review applications for new chemicals to be licensed within 60 days, the products will automatically be approved, although they will still need to receive separate approvals by the Health and Environment Ministries before going on the market.

Bovespa tumbles 7% as coronavirus fear grips stocks, oil markets

Stocks and oil prices resumed their fall on Wednesday due to increasing concern over coronavirus spread. On Wall Street, the emerging market stocks lost 1.25%. Brazil’s Bovespa index tumbled 7%, catching up with the selloff after a long carnival holiday, and the same day a first case of coronavirus in the country was confirmed. Argentina’s S&P Merval fell 5.65%. U.S. crude fell 2.38% to $48.71 per barrel and Brent was last at $53.41, down 2.8% on the day.