The soybean crop now reaches 30.4% of the area of 37 million hectares, according to a survey conducted by the consultant Safras & Mercado. Only Santa Catarina and Rio Grande do Sul have not yet begun, says the survey. The most advanced state is still Mato Grosso (74%). If compared with the average rate of 28% of the period, the current national crop is advanced, but behind 40% in the same period last year. The progress in relation to the week ending February 14 was medium, when it was 22%.
Raízen, one of the biggest ethanol producer in Brazil, is looking at partnerships with Indian firms for second-generation ethanol, produced from bagasse and sugarcane leaves, President and CEO Luis Henrique Gulmaraes said. In the interim Brazil could also export ethanol to India to quicken its 10% ethanol-blend programme. Raízen, a 50-50 joint-venture between Cosan and Royal Dutch Shell , is the third largest Brazilian energy company by revenue and the fifth largest in the country.
Costa Rica, Uruguay and Brazil, lead the Latin American sustainability ranking prepared by América Economía Intelligence considering seven dimensions: greenhouse gas emissions, energy matrix, biodiversity and forest management, agricultural pollution, water resources management, air quality in urban areas and environmental taxes. Bolivia, Peru and Paraguay are at the end of the list of eleven countries studied.
Carrefour Brasil SA expects to keep capital expenditure to convert 30 stores acquired from smaller rival Makro into its Atacadão wholesale format below R$300 million ($68.41 million). After local antitrust regulator Cade approves the recent acquisition, it should take three to six months to reopen each store as Atacadão, Roberto Müssnich, who leads Carrefour Brazil’s wholesale unit said.
The president of the Swiss bank UBS in Brazil, Sylvia Coutinho, estimates that Brazil “has the largest environmental assets on the planet” and conditions to assume a global role in “green finance.” Capital is looking for these environmental assets, as warned at the World Economic Forum in Davos, and I think the government took note of this message, so we must learn to monetise our environmental assets, she said.
The U.S. has reopened its doors to fresh beef from Brazil after a more than two-year ban, in a significant win for President Jair Bolsonaro ahead of a scheduled meeting with Donald Trump in March. Brazil can now begin shipping raw meat from cattle slaughtered from Feb. 21, according to a letter sent by the Food Safety and Inspection Service to the Brazilian minister. The U.S. suspended imports in 2017 after finding meat containing blood clots and lymph nodes. In 2016, sales of fresh Brazilian beef to the United States totalled $284 million.
Brazilian state-owned lender Caixa Economica Federal is partnering with the world’s largest payments network Visa Inc to issue debit and credit cards, it said on Friday. The partnership comes as Caixa revamps its card business prior to selling a stake the newly created company, Caixa Cartoes. Caixa had 109.3 million debit and credit cards issued to clients in December, up 6.2% from a year earlier. Payments with Caixa cards totaled 210.8 billion reais ($47.97 billion) last year.
Amaggi, the Brazilian soybean group owned by entrepreneur-turned-politician Blairo Maggi, is in advanced talks to buy the local unit of Argentina’s El Tejar (O Telhar) to capitalise on increasing crop demand from China. The proposed acquisition, yet to be confirmed by both companies, would encompass all assets in Brazil, including about 70,000 hectares (173,000 acres) of farming land, cotton mills, warehouses and machinery.
The majority of councillors at Brazil’s antitrust agency Cade voted on Wednesday against a prosecutors’ request to review the sale of Embraer SA’s EMBR3.SA commercial division to Boeing Co BA.N and allowed the deal to proceed. Earlier this month, Brazilian prosecutors had filed an appeal with Cade asking the regulator to reconsider its approval of the deal due to potential omissions in the decision. It tie-up had been approved without restrictions on Jan. 27.
Petrobras posted a net profit of R$40.137 billion ($9.2bn) in 2019, a 55.7% increase over the amount recorded in 2018. The figure also represents the highest nominal profit in the history of capital companies according to Economatica. In Q4 alone the net profit was R$8.153 billion – an increase of 287.87% over the same period the previous year.