The commodity’s prices have declined due to a lower demand from China. Brazil’s trade balance could be impacted, and Arabs could import more.
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Despite the global crisis caused by the COVID-19 pandemic, the sector stepped up imports on April. Brazil’s demand for fertilizers is expected to grow by 1.5% to 3% in 2020.
The increase in sales to the Middle East, particularly to Arabs, is a ‘pleasant surprise’ for the Brazil’s largest coffee farmers cooperative.
Throughout the month of Ramadan, Muslims fast during daytime, but evening feasts and donations will drive up food sales, with a major impact on the trade calendar in Arab countries.
The Institute of Applied Economic Research (Ipea)’s Monthly Apparent Industrial Goods Consumption Indicator slid 2.3% over August and 1.3% year-on-year in September.
There was a 0.6% slide in August over July, as revealed by the IPEA Indicator of Apparent Consumption of Industrial Goods.
Demand for goods by the Brazilian industry sector increased 1.2% in April over March.
