EU crisis concerns Brazil’s agribusiness

Brazil’s huge agribusiness sector is concerned about the impact of the debt crisis in Europe and slower growth in China, the president of the national Confederation of Agriculture (CNA) said on Tuesday.

“The bigger risk for the agribusiness sector is a credit shortage as the Brazilian harvest depends on financing from Europe,” Katia Abreu said, referring to the eurozone debt crisis.

Abreu said CNA was hoping that the Chinese economy would grow at least 7% or 8% next year so that Brazilian farm exports would not be adversely affected.

China’s GDP is expected to expand 8.9% next year, according to forecasts by the Chinese Academy of Social Sciences (Cass), down from an expected 9.2% this year and from the blistering 10.3% recorded in 2010.

Brazil’s 2012 grain harvest is expected to reach a record 153 million tonnes, 6.3 million more than this year, due to technological advances and a 3% increase of the country’s cultivated areas, CNA said.

One major threat to next year’s Brazilian harvest is the La Nina weather phenomenon which is linked to flooding and drought.

CNA hopes that the country’s farm exports will reach $92.9-billion next year, up 2.2% from the 2011 figure. — AFP

Staff Reporter
Guest Author
Advertisting

Hlophe complaint is an eerie echo

But the new complaint against the Western Cape judge president is also unprecedented

Mabuza contract grows by R10m

Eskom’s negotiators in a R100-million maintenance contract came back with a proposal to push up the costs

‘There were no marks on his neck’, Neil Aggett inquest...

The trade unionist’s partner at the time he was detained at John Vorster Square says she now believes his death was not a suicide
Advertising

Press Releases

Boosting safety for cargo and drivers

The use of a telematics system for fleet vehicles has proved to be an important tool in helping to drive down costs and improve efficiency, says MiX Telematics Africa.

Silencing the guns and firearms amnesty

Silencing the guns and firearms amnesty

Gender-based violence is an affront to our humanity

Gender-based violence is an affront to our humanity

UK-Africa investment summit 2020: Think Africa Invest SA

UK-Africa investment summit 2020: Think Africa Invest SA

MTN unveils TikTok bundles

Customised MTN TikTok data bundles are available to all prepaid customers on *136*2#.

Marketers need to reinvent themselves

Marketing is an exciting discipline, offering the perfect fit for individuals who are equally interested in business, human dynamics and strategic thinking. But the...

Upskill yourself to land your dream job in 2020

If you received admission to an IIE Higher Certificate qualification, once you have graduated, you can articulate to an IIE Diploma and then IIE Bachelor's degree at IIE Rosebank College.

South Africans unsure of what to expect in 2020

Almost half (49%) of South Africans, 15 years and older, agree or strongly agree that they view 2020 with optimism.