Brazil has issued a protocol instruction legally authorizing imports of genetically modified (GM) soy and corn from the United States at a time when Brazil is dealing with low stocks and record prices for these products.
A U.S. grain export terminal near Baton Rouge, Louisiana, is loading about 38,000 tons of U.S. soybeans on a bulk cargo vessel for shipment to Brazil, according to Southport Agencies shipping lineup.
The Brazilian government has announced the launch of a national innovation network focused on artificial intelligence (AI) with the aim of increasing the production capacity and competitiveness of local companies.
Bloomberg has reported that the United States began selling soybeans to Brazil after the Chamber of Foreign Trade (CAMEX) temporarily suspended import tariffs for corn and soybeans. This is a rare event that can be explained because Brazil has taken the lead in the production and export of the oilseed.
Corn production in Argentina is likely to drop to 48 million tons in 2020-21 from 50 million tons in 2019-20, the US Department of Agriculture's Foreign Agricultural Service in Buenos Aires said in a report released on Thursday.
Chinese imports of meat and offal totaled 830,000 tons in September, 63% higher than the volume recorded for the same month last year, based on information from Beijing's customs office.
China imported 51,4% more Brazilian soy during September, than in the same month a year ago according to a release from the Chinese Customs on 25 October. Brazil exported 7.25 million tons of oilseed to China in September compared to 4.79 million tons in the same period in 2019, according to the agency.
Brazil expects its 2020-2021 grain harvest to beat the record set by the newly completed season by 4.2%, according to an initial forecast released by the state-owned National Supply Company (Conab).
The owner of the world’s largest meatpacker pleaded guilty in U.S. federal court this week to paying nearly US$ 180 million in bribes to top Brazilian officials in exchange for state-backed financing used to go on a buying spree in the U.S.
The Brazilian government is set to discuss a proposal that would temporarily eliminate tariffs on corn and soy imports from countries outside the Mercosur trade bloc, as recently happened with rice, a staple of the Brazilian diet.