Global Scans · Brazil · Weekly Summary

WHAT'S NEXT?: A recession in Brazil is expected to bottom out with growth turning positive starting in 2017. Its economy is expected to require a long period of fiscal and monetary adjustment after the political turmoil and public discontent of the last two years.

• [New] Pork production in Brazil is forecast to grow by 4% to 4.6m t, as producers continue to benefit from lower production costs. Pig World
• [New] Global pork production in 2024 is forecast to fall by 1% to 115.6 million tonnes in 2024, as lower production in China more than offsets production gains in the EU, US and Brazil. Pig World
• [New] Brazil People can readily find ayahuasca and mushroom retreats in Brazil and likely will not face criminal penalties for possession or use. Psychedelics Today
• [New] The current dengue crisis in Brazil is a stark reminder of the ongoing threat posed by mosquito-borne diseases in Latin America. LatinAmerican Post
• Developing countries craving to become members of BRICS should not expect any development finances from the BRICS (Brazil, Russia, India, China and South Africa) New Development Bank. Modern Diplomacy
• A recovery in Brazilian listings will be contingent on interest rates in the US stabilizing and coming down, and steady global growth. White & Case
• In South America, Dow Jones expects USDA to lower its production estimate for Brazil from 155.0 mmt to 151.7 mmt or 5.57 bb. DTN Progressive Farmer
• For Brazil, USDA is expected to lower its estimate of corn production from 124.0 mmt to 122.1 mmt or 4.81 bb. DTN Progressive Farmer
• Central Brazil may have fairly steady weather, but will have higher overall temperatures, pointing to a need for heat-resistant crops. ScienceDaily
• Some economists predict that by 2050, Brazil, India, Indonesia, and Mexico will be among the seven largest economies in the world. Carnegie Endowment for International Peace
• Brazil has an opportunity to become a powerful bridge between developed economies and the Global South - the United States should support that ambition. Council on Foreign Relations
• The deadly rain storms are part of a string of extreme weather events in Brazil, South America's largest country, which experts say could become more frequent due to climate change. DW.COM
• As the founding members of BRICS (Brazil, Russia, India, China, and South Africa) are significantly larger and more economically powerful than the other members, there is a risk that they could dominate decision-making and sideline the interests of smaller countries. Modern Diplomacy
• The very high levels of debt in Brazil can be expected to significantly reduce the potential for GDP growth in the years to come. The Emerging Markets Investor
• The continued virulence of COVID-19 across many emerging markets, and especially Brazil, is of great concern, and the risk of a second-wave later this year is real. The Emerging Markets Investor
• With global disruptions, procurement's focus is expanding across emerging markets in countries such as China, India, Brazil, Mexico, Indonesia, and beyond. Logistics Management
• While Indonesia, Ecuador, and Brazil are cocoa-producing countries, the West African leaders could see output decline over the coming years. ConfectioneryNews.com
• The main intra-regional passenger flows will remain between Chile and Brazil, Peru, Argentina, with Peru experiencing the highest rate of traffic increase at 4.2% annually. Airbus
• The antibiotic consumption will approximately double in the BRICS countries consisting of Brazil, Russia, India, China, and South Africa. PubMed Central (PMC)
• Nubank CEO David Velez said that Mexico has the potential to be as important as Brazil for us, pointing to its large population of nearly 130 million and higher income per capita. PYMNTS.com
• Brazil national agricultural agency Conab cut its estimate of 2023-24 Brazil soybean production by 2.6 Mt to 146.86 Mt (148.3Mt expected, USDA 155 Mt) and cut total corn production by 0.94 Mt to 112.75 Mt (115.7 Mt expected, USDA 124 Mt). Beef Central
• Large-scale soybean production in the U.S. - America is the world's second-largest soybean supplier, just behind Brazil - was a golden opportunity for Honda. SlashGear
• The latest USDA report expects Brazil to export 100 million metric tons of soybeans compared to 103 million metric tons last year. Agweek

Last updated: 23 April 2024