Brazil Agribusiness Quarterly Q1 2020

This quarterly update on Brazilian agriculture provides a market outlook for sugarcane, corn, coffee and other key commodities, and gives an overview of what developments to watch in the weeks to come.

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Highlights include:

FX – We forecast an exchange rate of BRL4.50/USD by the end of this year.

Fertilizers – The outlook for farm inputs remains positive, thanks to an improving forecast for major crop margins.

Cane, Sugar, and Ethanol – Oil has plunged to USD 30/bbl, dragging sugar to around USc 11/lb – fuel demand is already falling as a result of the coronavirus crisis. If oil stays low, ethanol revenues and margins will be significantly impacted.

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  • Andy Duff

    Head of RaboResearch Food & Agribusiness - South America; Global Strategist - Sugar
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  • Matheus Almeida

    Senior analyst – Farm Inputs
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  • Wagner Yanaguizawa

    Analyst - Animal Protein
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  • Guilherme Morya

    Analyst - Beverages
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  • Andrés Padilla

    Senior Analyst - Beverages, Dairy, F&A Supply Chains
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  • Victor Ikeda

    Senior Analyst - Grains & Oilseeds
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