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[1/2] A logo of Brazil's state-run Petrobras oil company is seen at their headquarters in Rio de Janeiro, Brazil October 16, 2019. Lula told Prates that Petrobras should commission 25 ships to be built in Brazilian shipyards, instead of the four currently planned. When asked for comment, Petrobras referred Reuters to a Nov. 8 statement, in which it said it is still finalizing its investment plan. Last week, Reuters reported that Petrobras' plan will include around $100 billion in investments that the firm is both analyzing and those it has already committed to. In the previous 2023-2027 plan, Petrobras projected $78 billion in investments.

Persons: Sergio Moraes, Luiz Inacio Lula da Silva, Jean Paul Prates, Prates, Lula, Brazil's, Sabrina Valle, Lisandra Paraguassu, Rodrigo Viga Gaier, Marta Nogueira, Fabio Teixeira, Roberto Samora, Gabriel Stargardter, Marguerita Choy Organizations: REUTERS, HOUSTON, RIO DE, Petrobras, PETR4, Reuters, Thomson Locations: Rio de Janeiro, Brazil, BRASILIA, RIO, RIO DE JANEIRO, Brasilia, Mato Grosso, Sul, Petrobras

☆ Brazilian cotton hits the runway at Sao Paulo Fashion Week
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

[1/5] A model presents a creation by the project “Sou de algodao" (I'm made of cotton) during Sao Paulo Fashion Week, in Sao Paulo, Brazil November 9, 2023. REUTERS/Carla Carniel Acquire Licensing RightsSAO PAULO, Nov 10 (Reuters) - Brazilian cotton producers took the natural fiber to the runway on Thursday night, strutting the catwalk of Sao Paulo Fashion Week (SPFW) in celebration of the 150th anniversary of jeans. Paulo Martinez, a Brazilian fashion icon who styled the show, pointed out that Brazilian cotton is "indispensable" in the manufacturing of the denim garments. More important than the race to come out on top is to show the industry and consumers the quality of Brazil's product, said the president of the Brazilian Cotton Producers Association (Abrapa), Alexandre Schenkel. For Schenkel, the runway showcased the fruits of designers' labor.

Persons: I'm, Carla Carniel, Paulo Martinez, Alexandre Schenkel, Roberto Samora, Peter Frontini, David Gregorio Our Organizations: Sao Paulo Fashion, REUTERS, SAO PAULO, Brazilian Cotton Producers Association, Thomson Locations: Sao Paulo, Brazil, Brazilian, States, China, India

REUTERS/Bruno Kelly/File Photo Acquire Licensing RightsSAO PAULO, Oct 18 (Reuters) - Severe drought in the Amazon is forcing Brazilian grain exporters to divert a small number of export cargos to southern port terminals instead of northern ports, grain exporters group Anec said on Wednesday. Brazil is the world's biggest soybean exporter and expected to overtake the U.S. this year as top corn exporter. The drought, which has limited volumes of grain transported on barges via northern ports in recent days, will not impact Brazilian overall grain exports this year, Anec said. Anec is maintaining projections for record 2023 Brazilian soy exports at 99 million metric tons, and record corn exports between 52 million and 53 million tons, Mendes said. From January to August, 44% of Brazil's corn exports went through four main northern ports including Barcarena, Itaqui, Itacoatiara and Santarem, according to crop agency Conab, while some 31% of corn shipments from Brazil left through Santos.

Persons: Bruno Kelly, Anec, Sergio Mendes, Mendes, Ana Mano, Rod Nickel Organizations: REUTERS, SAO PAULO, ADM, Cargill, Thomson Locations: Rio Negro, Manaus, Brazil, China, Santos, Mato Grosso, Itacoatiara, Santarem

☆ Coffee research group progresses on naturally decaffeinated varieties
▼ + stars: | 2023-06-16 | by ( Roberto Samora | ) www.reuters.com time to read: +2 min

SAO PAULO, June 16 (Reuters) - A Brazilian coffee research institute has started a decisive stage in a two-decade project to develop arabica coffee varieties that are naturally decaffeinated, a development the researchers think could have significant commercial potential. The program is being developed at the Instituto Agronomico de Campinas (IAC), a leading coffee research center that has provided many of the high-yield coffee plants that have helped Brazil become a powerhouse in the global coffee market, supplying more than a third of the trade. Companies selling decaffeinated coffee as well could benefit with reduced costs, since they could skip the industrial processes to remove caffeine from regular coffee varieties. Coffee trees usually take two to three years to produce the first fruits, so there are still some years ahead until the researchers can harvest that coffee and test it. Consumption of decaffeinated coffee accounts for around 10% of the market in the United States, according to data from the National Coffee Association (NCA).

Persons: Julio Cesar Mistro, Roberto Samora, Marcelo Teixeira, Sandra Maler Organizations: SAO PAULO, Instituto Agronomico, IAC, National Coffee Association, Thomson Locations: Campinas, Brazil, Europe, United States, New York

☆ Brazil's Petrobras posts Q4 profit up 38%
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: 1 min

Companies Petroleo Brasileiro SA Petrobras FollowSAO PAULO, March 1 (Reuters) - Brazil's state-run oil firm Petrobras (PETR4.SA) on Wednesday posted a better-than-expected 37.6% surge in fourth-quarter profit, helped by higher oil prices over the period. Petrobras reported net profit of 43.34 billion reais, surpassing the 37.61 billion reais estimated by analysts polled by Refinitiv. Reporting by Peter Frontini and Roberto Samora; Editing by Sarah MorlandOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil making 'atypical' soy sales to Argentina, Anec says
▼ + stars: | 2023-01-12 | by ( Ana Mano | Roberto Samora | ) www.reuters.com time to read: +2 min

SAO PAULO (Reuters) -A Brazilian trade group representing global grain merchants on Thursday confirmed “atypical” sales of Brazilian soybeans to Argentina after rumors about unusual cargos being booked at this time of the year. FILE PHOTO: Soybeans are harvested at a farm in Porto Nacional, Tocantins state, Brazil March 24, 2018. Fernando Muraro, an analyst with AgRural, estimates Brazilian soy sales of 200,000 to 300,000 tonnes to Argentina for delivery in February and March. “They went up.”Crushing margins in Argentina rose by $10 per tonne in the beginning of January, to $30, making soy imports from Brazil an attractive option during the peak of Argentina’s soy inter-harvest period, Muraro added. Last year, the first Brazilian soy shipments to Argentina were recorded in April, for a batch of almost 49,000 tonnes, Brazil trade data show.

The sugar and ethanol (S&E) industry, as well as international sugar traders, were widely expecting the resumption of federal taxes on gasoline and ethanol, as indicated by Finance Minister Fernando Haddad last week. "In our perspective, this measure might have negative effects on the S&E sector, as it maintains the ethanol prices below the market's forecast, while the expectation was for an increase in ethanol prices in the beginning of 2023," said Citi Research. Sugar and ethanol industry group Unica said the new administration had become "an accomplice" to the attack on the environment begun under the former administration, adding that the measure contradicts Lula's speech at the COP 27 U.N. climate meeting in November. The group said that the tax exemption was unconstitutional, since the law requires the federal government to give a tax incentive to biofuels. Mauricio Muruci, an analyst with Safras & Mercado, said fuel distributors were actively buying ethanol late last year before the expected tax return.

☆ Brazil's BRF signs $111 million leniency deal after graft accusations
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Dec 28 (Reuters) - Brazilian food processor BRF SA (BRFS3.SA) on Wednesday signed a leniency agreement with local authorities over payments it must make to the South American country's government following accusations of graft. The deal with Brazil's attorney general (AGU) and comptroller general (CGU) offices requires BRF to pay around 584 million reais ($111 million) to the government, the CGU said, citing accusations that company employees paid public officials to gain "undue advantages" following federal police investigations. BRF said in a filing the payments will be made in five annual installments, starting next June 30. In a separate statement, BRF said it "understands that signing this leniency agreement puts an end to discussions regarding the past issue," adding that it does not condone illegal activity or improper conduct. Shares in BRF closed on Wednesday up nearly 8% at 7.76 reais, while the broader Bovespa Index rose 1.53%.

☆ Emerging market policymakers dare to hope for brighter 2023
▼ + stars: | 2022-11-30 | by ( Roberto Samora | ) www.reuters.com time to read: +3 min

He also said a reopening of China could propel the South Korean economy in 2023. "Actually if China loosens zero-COVID policy and reopens their borders and economy that will be a tremendous stimulus for us. Indian Finance Minister Nirmala Sitharaman forecast a "very good" economy ahead of 2024 national elections, fuelled by capital spending. State finance minister Shehan Semasinghe also said the nation was intent on meeting a December deadline to present plans to help unlock an International Monetary Fund bail-out. Zambia, which defaulted on its sovereign debt in 2020, aims to complete its restructuring of nearly $15 billion of external debt in the first quarter of 2023, Finance Minister Situmbeko Musokotwane said.

☆ Landslides cut off major Brazilian grains port, dozens missing
▼ + stars: | 2022-11-30 | by ( Roberto Samora | ) www.reuters.com time to read: +2 min

SAO PAULO, Nov 30 (Reuters) - Landslides after heavy rains in southern Brazil left dozens of people missing in Parana state and cut off access to a major port for grains and sugar shipments, authorities said on Wednesday. The BR-277 road to Paranagua and Antonina ports has been closed to vehicle traffic toward the coast since Tuesday. About 80% of goods exported at from Paranagua, Brazil's second-biggest port for grains and sugar, arrive by trucks, the port authority said, declining to estimate losses from the disruption. Rumo said goods are being delivered to the port and that it was monitoring the conditions of the tracks. The main products arriving by rail are sugar, soybeans and corn, according to the port authorities.

☆ Brazil transition team asks Bolsonaro govt to halt Petrobras asset sales
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

Companies Petroleo Brasileiro SA Petrobras FollowNov 22 (Reuters) - The transition team for Brazil's President-elect Luiz Inacio Lula da Silva asked the current administration to halt ongoing asset sales by state-run oil giant Petrobras (PETR4.SA) until a new Mines and Energy Minister is appointed, a member of the group said on Tuesday. The remarks by Professor Mauricio Tolmasquim, tapped last week to participate in the mining and energy group of the transition process, came after a meeting in Brasilia. A second member of the team, Senator Jean Paul Prates, said that Lula was expected to make decision on who would be Petrobras' next chief executive by early December. Lula is set to take office from incumbent President Jair Bolsonaro on Jan. 1. Reporting by Roberto Samora in Sao Paulo; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

His complete radio silence has raised concerns about the orderly handover of power, while also adding to doubts about how long the blockades could last. However, Normando Corral, president of farm group Famato, said the roadblocks in the top grains-growing state of Mato Grosso could disrupt agricultural shipments if they persist. One of the state's main exports this time of year is Brazil's winter corn crop, which is planted after soybeans are harvested. Evandro Lermen, a member of grain cooperative Coacen in the Brazilian 'soy capital' Sorriso, Mato Grosso, told Reuters corn shipments were not being disrupted by the protests. Rumo, a leading rail company that operates Latin America's biggest grain terminal in Rondonopolis, Mato Grosso, said none of its operations in Brazil had been affected so far.

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