Brazilian farmers have sold 56.5% of their beans in advance through December 4, Safras & Mercado, an agribusiness consultancy, said in a statement last Friday. Considering Brazil is poised to collect 133.517 million tons of the oilseeds this season, the volume of pre-sold soy amounts to an estimated 75.403 million tons, Safras said.
Brazil could double spending on subsidized farm insurance in 2020 and may expand subsidized loans, the country’s agriculture policy secretary said on Thursday; even though the new government’s economic team has pledged to cut spending.
Financial and political turmoil that have Brazil on the brink of a depression is also contributing to one of the best years ever for domestic farmers. Economic stress and a weak currency has facilitated export revenue for everything from soybeans to beef to coffee.
President Dilma Rousseff claimed before the Brazil's farmers lobby that the trade agreement between Mercosur and the European Union is stalled and is not fulfilled because of the 'resistance' from several European countries, and specifically named France, Hungary and Ireland.
Mercosur has become characterized for “bad leadership and worse presidents” of the countries that make up the block, since there is no incentive for the regional organization and it has become “an ideological battle political field”, said Cesario Ramalho da Silva, president of the Brazilian Rural Society.
Brazilian president Dilma Rousseff announced an agriculture support plan of approximately 67 billion US dollars with the purpose of increasing by 5% the 2011/2012 harvest of grains and oil-seeds