Brazil shipped 1.847 million tonnes of beef, up 12.4% from 2018, and revenue was up 15.5% to $7.59 billion, according to the Brazilian Beef Exporters Association (Abiec). Throughout 2019, China boosted exports and took the lead in purchases with 26.7% of total volume and $2.6 billion revenue. United Arab Emirates imported 71,397 tonnes of beef from Brazil in 2019, a figure 93% higher than 2018.
France’s Engie is considering acquiring a 51% stake in the hydroelectric dam Foz do Areia, owned by Brazilian state power company Companhia Paranaense de Energia. The dam would be jointly run with Copel whose license expires in 2023.
Vehicle production in Brazil grew 2.3% in 2019 over the previous year, according to the manufacturers association Anfavea. Last year 2,944,962 cars, trucks and buses were manufactured, compared with 2,879,809 in 2018. Despite being the third consecutive year of production growth, the 31.9% drop in exports, especially to Argentina, was the largest since 2017. The 428,198 units sold abroad were the worst result since 2015.
The National Bank for Economic and Social Development (BNDES) has invited eight banks to broker the sale of part of its Petrobras portfolio shares through a public offering of secondary distribution. The operation is expected to be done by March. . The development bank owns about 19% of the preferred shares and 10% of the common shares (as voting rights) of the oil company, which today are worth about R $ 56 billion.
The federal government is considering compensatory mechanisms for a possible rise in fuel prices if the crisis involving the United States and Iran hits the international oil market any harder, said Mines and Energy Minister Bento Albuquerque after meeting with President Jair Bolsonaro. However, he practically ruled out the possibility of instituting some kind of subsidy.
Grain trader Archer Daniels Midland Co has sold its palm business in Brazil to local player Reflorestadora Moju Acará, according to the Brazilian antitrust watchdog Cade. The deal, whose value has not been disclosed, was part of a broader global portfolio review from ADM with businesses in Brazil that also include soy, corn, wheat and cotton.
Brazilian state lender Caixa Econômica Federal has chosen the bank syndicate that will manage the initial public offering (IPO) of its insurance unit. Morgan Stanley will lead a 10-bank syndicate that expects expect to value it at around 60 billion reais ($14.77 billion). Caixa CEO Pedro Guimaraes wants an IPO in the short term, in March or April.
Former senator and two-time governor of Matto Grosso, 63-year old billionaire Blairo Maggi, has been instrumental in the growth of Brazil’s agribusiness sector. He remains a leader of the “ruralist bench”, the agribusiness lobby that dominates Congress and supports President Jair Bolsonaro. In an interview with Al Jazeera, Maggi says that it is possible to increase Brazil’s agribusiness in a sustainable way.
Nestlé SA, which aims to eliminate deforestation from its supply chain over the next three years, has stopped buying Brazilian-produced soybeans from agricultural trading firm Cargill Inc. after a review couldn’t trace the oilseeds back to specific plantations, raising concerns that they were produced on converted land.
While research is scant, evidence points toward pesticide harm to Brazil’s wildlife, including the death of 500 million bees in four Brazilian states between December 2018 and February 2019. Another report found that 40 percent of samples collected from 116 tapirs were contaminated with insecticides, herbicides and heavy metals.