JBS Is Expected to Export Almost 1 Million Tonnes of Meat to China in 2024
Corn planted area is expected to fall by approximately 20% when compared to the previous season, reaching 6.3 million hectares. (Buenos Aires Cereal Exchange)
From January to September of 2024, beef exports reached 699,987 tonnes. Bone-in beef exports reached US$ 2,12 million, the highest in the last 57 years. Of the 48 export markets, the highlight is the increase in shipments to the USA (46%), Chile (21%), and Israel (11%). (MAGyP)
Central Bank reduced the basic interest rate on November 1st. This was the first time in almost six months. The monetary authority cut the interest rate from 40% to 35%. According to the Bank, the decision is based on the current liquidity context of Argentina, the reduction in consumer price expectations and the government’s fiscal anchoring. (Central Bank of Argentina)
The increase in the area planted with soybeans in the 2024/25 season will be the smallest compared to the last ten seasons, with planting in the country approaching 47 million ha. (Conab; Cofco)
SLC Agrícola has registered a request for the issuance of agribusiness receivables certificates (CRAs) worth up to US$ 70.26 million. The certificates mature on 11/24/2032, with a yield of 1.1% per year + CDI (Brazilian interbank deposit rate), and with payment of interest every six months. The CRAs are securitized by Virgo Companhia de Securitização and coordinated by Itaú BBA. (SLC Agrícola)
In October, the number of market openings for agricultural products reached the second highest result in the historical series. There were 34 new openings in 12 countries. In the last 10 months, Brazil opened up 192 new markets in 48 destinations. (MAPA; SCRI)
The agricultural sector had a 20.5% increase in the number of companies undergoing bankruptcy protection in the 3Q of 2024. The increase was driven by the drop in commodity prices, rising production costs, and high levels of debt among farmers. (RGF & Associados)
JBS is expected to export almost 1 million tonnes of meat to China in 2024, according to Wesley Batista, member of the board of directors. He spoke at AgroForum, organized by BTG Pactual on November 4th. Batista did not specify the type of meat he was referring to or the origin of the company’s exports, which has operations in Brazil, the USA and Australia, etc. (JBS)
From August of 2023 to July of 2024, deforestation in the Legal Amazon reached 6,288 km², a reduction of 30.6% compared to the previous year. This is the lowest percentage value in 15 years. (INPE; MMA)
The president of Danone in Latin America regrets “incorrect” information about statements regarding Brazilian soybean. “We confirm that Danone continues to purchase Brazilian soybean, in compliance with local and international regulations”, said Silvia Dávila, regional president of Latin America at the company. The case came to light after a high-ranking executive at Danone in France stated in an interview with an international press vehicle that the company was no longer purchasing Brazilian soybean. (Danone)
Government of the State of Piauí has declared an animal health emergency to prevent highly pathogenic H5N1 Avian Influenza. The decree was published in response to new cases of the disease in wild and domestic birds in several regions of Brazil. Piauí still has no confirmed cases. (Government of Piauí)
In Coquimbo, citrus has overtaken grapes as the main fruit crop, due to water shortages and climate change. Today, tangerines occupy 23.3% of the planted area, followed by grapes (22.9%). Experts highlight citrus fruits as an economically viable and less water-intensive alternative for the region. (Corfo)
Chilean delegation and representatives of the Agricultural and Livestock Service met with the Indonesian Quarantine Agency to advance negotiations for the export of fresh Chilean lemons, nuts and frozen fruit. (SAG)
Coffee production grew by 16% in October. Exports rose 17% year-on-year to 12 million bags. (National Federation of Coffee Farmers)
Food and beverage holding Grupo Alpina will invest US$ 2 million in agricultural and food industry startups, said the company’s global president, Ernesto Fajardo. (Grupo Alpina)
Cattle export market is reaching high prices due to a lower supply of cattle and unstable demand from meatpackers. The average price for males and heifers is around US$ 3.50/kg. (CEA)
In September, soybean sowing in the country was completed, with the price per bag at US$ 21.7, 15% lower than the same period in 2023. This is due to the delay in the start of sowing. (Dasagro)
Peru has signed an agreement with Brazil to open the apple (import) and citrus (export) markets. “It had been three years since Brazil and Peru had been able to sign an agreement to access products”, said Rómulo Acurio, ambassador of Peru in Brazil. (MAPA)
Wheat and barley harvests are expected to be of good quality, although the crops will not reach the record levels of the previous season. Favorable weather conditions should contribute to the quality of the grains. Expectations are positive, with improvements in prices. (National Statistics Institute; MGAP)
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