SAO PAULO, Sept 17 (Reuters) – The crushing of Brazilian
soybeans into meal and oil is at its lowest level since 2009
despite a record harvest of 81.6 million tonnes that finished in
May, industry specialists said Tuesday.
About 19.3 million tonnes of soybeans were crushed from the
start of the industrial year in February through the end of
July, down 7 percent from the 20.8 million tonnes crushed over
the same period last year, according to the latest data from
Brazil’s vegetable oils industry association, Abiove.
BELO HORIZONTE, Brazil, Sept 12 (Reuters) – Brazil’s
decision to increase government-held coffee stocks in response
to plunging world prices for the commodity is correct, the
International Coffee Organization Executive Director Robério
Oliveira Silva said on Thursday.
Notwithstanding, Silva warned in a letter published at the
close of this year’s week-long ICO conference against repeating
policy errors of the past that had lead to oversupply and market
distortions in response to abrupt drops in coffee prices.
BELO HORIZONTE, Brazil, Sept 12 (Reuters) – Coffee rust,
which wiped out as much as 30 percent of some Central American
and Andean coffee crops recently, will take a smaller toll this
season on production of mild arabicas, the New York ICE
deliverable beans that roasters use to smooth out their blends,
officials and specialists said at a conference this week.
Colombia and Mexico, the two heavy-weight producers of the
region, will suffer no significant losses to the disease that
can destroy whole crops if left unchecked by spraying, causing
immature coffee fruit to drop off trees.
BELO HORIZONTE, Brazil, Sept 12 (Reuters) – Despite plunging
arabica prices, the smoother coffee bean will struggle to regain
lost market share in big roasters’ blends after high prices over
the past several years drove them to less expensive robusta
substitutes, specialists said on Wednesday.
In the medium to long term, the prospects for cost efficient
arabica producers look bright, both for milder Central American
and Colombian washed beans as well as the massive body of
Brazilian naturals, participants at the IV International
Conference on Natural Arabicas said.
RIO DE JANEIRO, Sept 6 (Reuters) – OGX, the debt-laden
Brazilian oil company, said on Friday it has called in a promise
from controlling stakeholder Eike Batista to start injecting $1
billion into his empire’s flagship company while it renegotiates
The company’s stock surged on the news, closing up 27
percent at 0.52 real, and its bonds also reacted positively.
SAO PAULO, Aug 15 (Reuters) – Brazil’s JBS SA,
the world’s largest meat producer, expects profit margins from
its U.S. poultry division to improve in the fourth quarter of
2013 due to a bumper corn harvest that will bring down feed
costs, Chief Executive Wesley Batista said on Thursday.
Residual high costs for corn and other feeds would likely
continue in the third quarter for Pilgrim’s Pride, the
company’s U.S. poultry unit, but then start to fall in the
fourth quarter, helping profit margins, he said.
SAO PAULO, Aug 13 (Reuters) – Brazil’s São Paulo state will
sue German engineering giant Siemens to recoup public
funds its governor said it lost to a cartel that fixed prices
for public transit construction, equipment and upkeep.
“We are going to open a case against Siemens for damages to
public coffers and the state of São Paulo and to demand total
reimbursement,” Governor Geraldo Alckmin told reporters on
SAO PAULO, Aug 6 (Reuters) – Brazil’s sugar and ethanol
industry continues to invest billions of dollars annually in
mechanization, warehouses, ports and biofuel pipelines, even
though new mills are off the table for now, local leaders in the
sector said on Tuesday.
In the heyday of Brazil’s ethanol industry, more than 30 new
mills opened in 2008/09, but over the past year, only two new
mills opened and they were largely carry through investments of
bigger, earlier projects. Mills can produce either sugar or
SAO PAULO (Reuters) – Last week’s frosts in southern Brazil damaged nearly a fifth of the unharvested cane crop in the principal growing region, an event likely to cut sugar exports from the world’s largest producer, agriculture research company Datagro said Wednesday.
Severe early morning frosts on July 24 and 25 in three of Brazil’s top sugar-cane states devastated large areas, Datagro President Plinio Nastari told Reuters. The cold blight comes at the peak the crushing season when more than half of Brazil’s expected record 590-million-tonne crop remains unharvested.
SAO PAULO (Reuters) – Last week’s frosts in southern Brazil damaged nearly a fifth of the 365 million tonnes of centre-south sugar cane yet to be harvested, potentially curbing output from the world’s largest exporter, industry research company Datagro said on Wednesday.
Datagro President Plinio Nastari told Reuters that severe frost on July 24 and 25 in southern cane growing regions may have killed entire fields, which would likely need to be replanted.