South Africa has reopened the doors for the importation of Pork Meat from Brazil, after 9 years of suspension. The news was released during the opening of the Avisulat 2014 fair in Porto Alegre.
That is a good news for the pork meat exporters because in 2005, when was applied the suspension, South Africa was the fourth market for the Brazilian pork meat exportation.
Soya farmers in Brazil, are set to boost the production to a record for a third straight year, it may jump 7.3% to 92.4 million metric tons (Conab forecast) and triggering the biggest global surplus ever.
As consequence the soybean prices have tumbled into a bear market in the past 5 months, touching a 4 year low, leaving some growers unable to find buyers.
According to Mato Grosso Institute of Agricultural Economics, to produce a 60-kilogram bag of soybeans costs nowadays about 46 reais (€14.5), however the buyers are offering 39 reais (€12.31) a bag for delivery in March, after the harvest.
Source : Bloomberg
The International Sugar Organization (ISO) said that Low sugar prices will be here for a while, even forecasting the first drop in world sugar production for 5 years. However the world sugar economy is facing another surplus season, estimated at 4.5 million tonnes for 2013-14.