Weather, Rust and World Prices All Conspiring Against Brazil

The output value of Brazil’s agriculture and fishing sector will decline by nearly 9% this year compared with 2004, according to a report released this week.

The projection was based on data collected between January and May by the CNA agribusiness federation and the University of São Paulo.


“Both agriculture and fishing show a reduction in GDP in 2005,” CNA chief economist Getúlio Pernambuco told a press conference, adding that the decline will have ripple effects across the Brazilian economy.


Farmers have seen a drop in harvests due to unfavourable weather and a massive outbreak of Asiatic rust affecting soy, Brazil’s main agricultural export.


Pernambuco also blamed falling farm revenue on a decline in global prices caused by surpluses of certain agricultural commodities.


Mercopress – www.mercopress.com

Tags:

You May Also Like

Hopes of Lower Interests Bring Brazilian Market New Vigor

Brazil and Latin American shares maintained their recent winning streak, with Argentina this time ...

Lula Says He Trusts UK’s Justice on Case of Brazilian Killed as Terrorist

British Prime Minister Tony Blair and Brazilian President Luiz Inácio Lula da Silva talked ...

Brazilian Court Reverses Release of TV Reporter’s Killer

A court from Rio de Janeiro, Brazil, which oversees sentence implementation has reversed a ...

WordPress database error: [Table './brazzil3_live/wp_wfHits' is marked as crashed and last (automatic?) repair failed]
SHOW FULL COLUMNS FROM `wp_wfHits`