Tag: Brazil soybeanBrazil soybean
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.
Prices for farmland in Brazil surged by an average 14% a year to nearly quadruple over the past decade, well outpacing inflation and nearly matching gains made by São Paulo's blue-chip Ibovespa stock index, a new study shows.