Brazil imports 85% of the input used to fertilize crops and could face shortages, a researcher said at an event at the Arab-Brazilian Chamber.
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Government signed an agreement with the Islamic Corporation for the Development of the Private Sector (ICD) to mobilize funds for major strategic projects in the country and expand companies’ capacities.
The shipping company announced on its website an overland transport service from Asia to Middle East destinations via Saudi Arabia and Turkey. Some countries in the region currently lack maritime access due to the closure of the Strait of Hormuz.
In the first two months of the year, 3,400 pairs were imported from the Arab country, more than double the same period last year, according to Abicalçados data.
International agency kept Morocco’s Ba1 long-term debt rating in local and foreign currency but revised the outlook from stable to positive. Fiscal performance was one of the reasons.
In Brazilian agribusiness, the war in the Middle East creates uncertainty over urea supply, affects diesel prices used in the field, and is already impacting logistics. Brazil’s agribusiness lobby, CNA, analyzes the effects.
Oil prices rose sharply on Monday (9) amid the conflict between the United States and Israel against Iran. Since the attacks began, the price of a barrel of WTI has increased by 70%, something never recorded over such a short period.
Qatar’s Minister of State for Energy Affairs Saad bin Sherida Al Kaabi said the conflict could force Gulf states to stop producing and supplying energy within days.
Data from February, which still do not reflect the US–Israel war with Iran, show the UAE and Saudi Arabia among the top importers of Brazilian chicken.
In phone calls with ministers from countries affected by the conflict, Mauro Vieira discussed the situation of Brazilians, who may obtain emergency transit visas in Saudi Arabia.
Federal decree establishes rules that may be applied when imports from a country with which Brazil has a trade agreement cause serious harm to domestic industry.
Industry group ABPA says companies and the government are acting to guarantee deliveries to Arab ports despite the conflict, maintaining supply.
In the fourth quarter, the economy grew 0.1% compared to the third quarter, statistics office IBGE said.
Mauro Vieira discussed the Middle East conflict, flight suspensions affecting Brazilians in the UAE, and the country’s Mercosur negotiations with Abdullah bin Zayed Al Nahyan.
