Friday, April 4th 2014 - 07:35 UTC

Brazilian congress strikes down new taxes on the domestic soy market

The country is the world's leading exporter of soybeans

Brazil's Congress struck down this week a proposal to impose new taxes on the internal soy market after fierce opposition from the country's agricultural sector. An amendment to apply a tax known as PIS/Cofins on soybean sales to some domestic buyers had been removed from a bill to simplify taxation of Brazilian companies abroad that was passed by the lower chamber late on Tuesday.

Saturday, March 29th 2014 - 06:11 UTC

Brazil's 2,3% growth in 2013 came as a surprise, even for Minister Mantega

Agriculture and domestic consumption were the driving forces

Brazil's economy expanded 2.3% in 2013, compared with growth of 1% the previous year, the Brazilian Institute of Geography and Statistics, IBGE, said this week. The country's GDP for 2013 was estimated at 4.84 trillion Reais (some 2.05 trillion dollars), the IBGE said.

Friday, March 28th 2014 - 08:16 UTC

Argentine wine from small grape farmers for Pope Francis masses

Agriculture minister Carlos Casamiquela made the announcement

The wine used for the masses of Pope Francis will be made using grapes from small Argentine producers with 500 liters of the drink already in production, according to a report from the Project for the Integration of Small Producers in the Viticulture Chain (PROVIAR).

Friday, March 28th 2014 - 08:01 UTC

Cuba ready to implement an ambitious foreign investment with generous tax breaks

The new law “would apply to investors a tax of 15% on taxable net profits” after which all profit could be repatriated, Juventud Rebelde reported.

Cuba's government has released further information on a proposed foreign investment law that will cut the profits tax in half and exempt investors from paying it for eight years in an attempt to attract capital into the communist economy.

Friday, March 21st 2014 - 05:56 UTC

Argentina's grain shipping blocked by vessel grounded in the Paraná

MV Paraskevi is grounded with a cargo of 45.000 tons of soybeans (Credit Clarin)

Argentina's river Paraná is blocked since early March when a Cypriot flagged vessel broke down with a 45.000 tons cargo of soybeans, thus holding back access of another eighty vessels waiting to load in Rosario and other ports in the heartland of the grains and oilseeds country.

Saturday, March 8th 2014 - 06:02 UTC

February experienced a sharp increase in FAO Food Prices Index

Sugar, oils and cereals prices increased the most but supply prospects are encouraging

Weather-related events and increased demand came into play as the FAO Food Price Index registered its sharpest increase since mid-2012, averaging 208.1 points in February 2014. The new level is 5.2 points, or 2.6%, above a slightly revised index for January, but is still 2.1% lower than last year at the same time.

Wednesday, March 5th 2014 - 04:52 UTC

China buys majority stake in Nidera as part of its investment in food assets

Nidera CEO Ton van der Laan said they were looking for a strong partner in China and the rest of Asia to expand.

China's State-owned Chinese food giant Cofco Corp. on Friday announced it was buying a 51% stake in closely held grains trader Nidera NV. By investing in Dutch Nidera, Cofco--China's largest stated-owned grain trader-- would have greater control over pricing as well as better access to major grain-growing regions, such as Latin America and Russia.

Friday, February 28th 2014 - 03:28 UTC

Brazil GDP expanded 2.3% in 2013; agriculture again the main engine

Brazil is among the world's leading exporters of soy and corn

Brazil's economic output grew 2.3% in 2013 for a third straight year of modest expansion by Latin America's biggest economy, the government announced on Thursday. GDP for the final quarter of the year rose a 0.7% compared to the third quarter, according to Brazil's Institute for Geography and Statistics, IBGE.

Wednesday, February 26th 2014 - 20:33 UTC

Brazil farmers want a Mercosur/EU trade agreement even leaving Argentina out

“We hope we will convince them, but maybe they will join at a later stage”, said Katia Abreu

Brazil would like free-trade talks between the European Union and Mercosur to include Argentina, but would be prepared to proceed without its regional ally if an understanding can't be reached on March 7, according to the head of Brazil's farming confederation.

Saturday, February 15th 2014 - 05:46 UTC

Despite adverse climate Brazil expects record harvest: 193.6 million tons

Soy and corn are the country's main crops

Weeks of drought and heat have hit Brazil's soy and corn production, but the agriculture ministry still predicted a record 2014 harvest. Corn production is set to total 75.5 million metric tons, down from a January estimate of 79 million, state food supply agency Conab said in its monthly report.


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