Sao Paulo | Reuters — JBS SA, the world’s largest meat packer, on Wednesday proposed listing its shares in New York, hoping the move will bring its multiples closer to peers and that a broader investor base will give it more access to cheaper capital, sending its shares up eight per cent in mid-morning trade.
Brazil’s JBS reboots plan to list shares in New York
International meat packer hopes for access to lower-cost capital
Brazil corn exports to China nosedive as soy season kicks off
Reuters – Brazil’s corn exports fell sharply in February as soybean shipments took centre stage and Chinese buyers turned to countries like the United States and Ukraine for supplies. According to revised Brazilian trade data, the country’s corn sales to China were 70,000 tonnes last month, down from 983,700 tonnes in January and more than
Beef consumption to rise in China, JBS predicts
China seen as more competitive in domestic chicken, pork markets
Sao Paulo | Reuters — Demand for beef in China is expected to rise as the country still has relatively low per capita consumption, Gilberto Tomazoni, chief executive of JBS SA, said on Wednesday during a business conference. He said Brazil and the U.S., where JBS has meat facilities, are well positioned to meet China’s
Drought hits Brazil corn in key southern state
Reuters – A drought is compromising corn fields in Brazil’s Rio Grande do Sul state, which is now expected to produce 4.51 million tonnes of the cereal, according to a forecast by StoneX on Dec. 15. The revised output figure is less than a previously forecast 5.38 million tonnes of corn production for the state
Brazil’s second corn crop threatened by dry April
Reuters – Brazil’s top grain-producing state is facing its driest April in 17 years, threatening a key second corn crop in the agricultural powerhouse, weather service EarthDaily Agro said. Accumulated April rainfall in Mato Grosso state totalled 30 millimetres (1.18 inches), 70 per cent below the average for the last decade, EarthDaily Agro, which monitors
Potash importers brace for prolonged price rally after sanctions on Belarus
Prices are already at a 13-year high and U.S. sanctions will likely fuel further rises
Reuters – Global potash prices are set for an extended rally after the United States imposed sanctions on major supplier Belarus Potash Company (BPC), piling more pressure on farmers and consumers already facing rocketing costs and a global economy navigating rising food inflation. Prices were already at 13-year highs before the U.S. move on Dec.
Brazil’s BRF sees holiday food sales back to pre-pandemic level
Reuters – Brazilian pork and poultry processor BRF SA expects food sales to return to pre-pandemic levels during the holiday season as consumers and families gather again after almost two years of social distancing. In an interview with Reuters Dec. 1, Sidney Manzaro, who leads the company’s Brazilian operation, said he does not expect the
Mosaic’s Brazil unit sees fertilizer demand growing
Reuters – Mosaic Fertilizantes, a unit of Mosaic Co., sees fertilizer demand in Brazil growing by six per cent to as much as 10 per cent in 2021 if demand from corn farmers proves strong, an executive told Reuters. Mosaic Fertilizantes head Corrine Ricard noted the strong negative effects droughts and frosts have had on Brazil’s 2021 corn crop. But she
Brazil 2021 corn exports seen falling to 32 million tonnes
Reuters – Brazil’s cereal exporter association Anec on May 5 maintained the country would ship some 32 million tonnes of corn this year, 1.6 million tonnes less than in 2020, despite a drought that is affecting yields in certain producing areas. Sergio Mendes, Anec’s director general, said Brazil’s corn export prospects remain good thanks to
Brazil keen to increase corn exports to China — but in no rush
Reuters – Brazil and China are in talks to boost corn trade between the two nations, though raising exports to the Asian nation at this time is unfeasible due to inter-harvest supply shortages, Abramilho, a corn producers’ association, said on Dec. 16. Only a fraction of Brazil’s corn sales went to China last year, or