Webinar discusses prospects for Brazilian agribusiness
On June 3, at 2:30 pm, FGV Transportes will hold a webinar called “Brazilian agribusiness’ present situation and future prospects.” The event will discuss the circumstances facing this sector, which is set to produce 250 million metric tons of grains this harvest, a lot of which has been sold in advance, thereby helping mitigate the reduction in Brazil’s GDP.
The debaters will be Senator Wellington Fagundes, who leads the Joint Parliamentary Caucus on Logistics and Infrastructure; Roberto Queiroga, the executive director of the Brazilian Association of Cereal Producers; and Edeon Vaz Ferreira, the executive director of the Mato Grosso Pro-Logistics Movement.
The participants will talk about current conditions in the agricultural sector, which despite the unprecedented economic crisis and its major impacts on the entire private sector, in Brazil and worldwide, is projected to grow 2.4% this year, while the economy as a whole is set to shrink 5%.
In April of this year, there were some remarkable Brazilian export figures. Agricultural products accounted for 55.8% of all exports, an all-time high. This result was driven by soybean and beef sales. In fact, all Brazilian agricultural commodity exporters are benefiting from the strong U.S. dollar, which has made their products more competitive.
In 2020, China bought around 31% of Brazil’s exports – more than the European Union, United States and Argentina together. Saudi Arabia, the United Arab Emirates and Russia were also significant purchasers of Brazilian agricultural commodities.
On the other hand, ethanol plants are suffering from lower domestic demand, caused by mobility restrictions imposed by state and municipal governments, associated with extremely low oil prices, which have made ethanol uncompetitive. Furthermore, an overall reduction in the amount of clothes bought is harming the cotton market.
Certainly, the international financial markets for agricultural commodities will experience impacts caused by the pandemic and Brazil needs to pay attention to international exchange rate fluctuations and the economic situation in Asian countries.
Based on the expertise and experience of the guest speakers, the webinar will explore this subject and also look at how agribusiness is tackling the difficulties imposed by our country’s poor transport infrastructure and high logistics costs.
For more information about the event and to sign up, click here.