Tag: Brazil soybeanBrazil soybean
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.
Brazil’s delays loading soybeans for export may worsen in 2014 due to a bigger crop and as some grain facilities are used for sugar shipments, crop analyst Soybean & Corn Advisor Inc. said.
A highway, decades in the making, will finally open in Brazil offering a shortcut through the Amazon jungle to north-eastern waterways for the growing corn and soybean trade. The BR-163 highway connecting Mato Grosso state's soy belt to two key river ports will boost grain exports by some 3 million tons next year, offering a bit of relief to congested ports in the southeast, where most shipments originate.
Brazil’s 2013/14 soybean crop that starts planting in September is expected to grow by 9% under normal weather conditions to a record 89.1 million tons, local crop analyst AgRural said in a release.
Embrapa (Empresa Brasileira de Pesquisas Agropecuarias) created tropical agriculture in Brazil, thus allowing the country to become the giant food producer it is today. Hailed for the work done in adapting soybeans to the hot, humid, acidic climes of the Cerrado savannah, where nearly 17% of the world's beans are now cultivated, the state-run research company is a national treasure.
Brazilian President Dilma Rousseff signed into law on Wednesday new regulations to make its ports more efficient and attract up to 12 billion dollars in investments as the country finally begins to tackle logistics bottlenecks hampering vast farm exports.
Brazil’s soybean production has reached record levels this season which could make the country the world’s leading producer but port congestion and lack of storage capacity are impeding exports of soybean as producers fear losing international markets.
US farm officials forecast a tough autumn battle between Brazilian and US soybean exports, as Brazil attempts to make up for a poor start to 2012-13, with shipments hurt by logistical hiccups. US Department of Agriculture staff in Brasilia, while cutting their forecast of the Brazilian soybean crop to 82.5m tons, stood by a forecast of soybean exports of 39m tons for 2012-13, report agrimoney.
North-east Brazil is suffering its worst drought in decades, threatening hydro-power supplies in an area prone to blackouts and potentially slowing economic growth in one of the country's emerging agricultural frontiers.
Brazil posted its smallest annual trade surplus in a decade last year as a sluggish global economy curbed demand for its products despite government efforts to boost exports. Brazil's trade surplus fell 35% to 19.44 billion dollars from the prior year, the weakest performance since 2002, Trade Ministry data showed on Wednesday.