Finance Minister Laaziz Faid announced that starting next year, all public banks will be able to offer credit to the local agribusiness sector. The measure aims to boost productivity.
Browsing: Agribusiness
The United Arab Emirates, Saudi Arabia, and Iraq are among the top ten importers of Brazilian chicken meat, says ABPA. According to the institution, the sector is set to reach production and export records this year.
Arab countries are among the top buyers of Brazil’s agribusiness, according to the country’s National Confederation of Agriculture. The agribusiness GDP is expected to grow by 2% this year.
Brazilian agricultural attachés have been newly appointed to nations including the United Arab Emirates and Algeria. Brazil’s incoming attaché to Ethiopia will also work to advance Brazilian interests in Djibouti.
The Arab country was the third biggest importer of beef from Brazil year-to-date through October and accounted for 4.7% of total foreign sales.
The Arab country increased its sector’s shipments by 17% this year until October, with a growth in sales of products such as dates and the entry of tomatoes into new regional markets.
The Moroccan government has authorized the export of Brazilian olive oil into its market, the Brazilian Ministry of Agriculture and Livestock said. The Arab country, whose local production was impacted by drought, has taken at least two other steps this year to favor trade with Brazil.
BRF Arabia Holding Company has purchased a stake in a Saudi chicken processor for USD 84.3 million. The company says it is establishing itself as a partner in the Arab country’s food security.
The Arab country provided 110 seedlings of 12 species of date palms for Brazilians to test the commercial viability of producing their fruits in the semi-arid region. In addition to bringing income to local farmers, dates could also be exported.
Saudi Arabia has opened its market for Brazilian cotton, including raw cotton, cottonseed, and cotton waste. Brazil has become the largest exporter of cotton in the world this year.
The Brazilian government announced that Saudi Arabia has authorized exports of these two new products from the national agribusiness, in the wake of two other market openings this year.
The government of the North African country has removed the VAT on the import of up to 20,000 tonnes of beef, sheep, goat, and camel meat.
The federal government announced the “Rice for the People” program to promote the rice production and stockpiling in the country. The goal is to stimulate the harvest of additional 500 thousand tonnes.
Algeria has joined the list of the top 20 importers of Brazilian beef, at 34,200 tonnes from January to September. The UAE also increased their purchases, contributing to the rise in exports.
