In this file:

 

·         Food prices soar in Brazil

… beef about 40%...

 

·         China's impact on poor Brazilians: prices of staples skyrocket, black beans 30%, rice 20%

… The rise is mainly explained by the growing appetite of foreign buyers, and in particular China…

 

 

Food prices soar in Brazil

 

Explica

September 13, 2020

 

Black beans are up nearly 30%, beef about 40% – Brazilians are facing a skyrocketing rise in food prices, caused by record exports to China and strong domestic demand.

 

This rebound, amid the economic and social crisis caused by the new coronavirus pandemic, has led the president, Jair Bolsonaro, to ask the owners of supermarkets to show « patriotism » and « keep their profit margin as low as possible.

 

Inflation (IPCA index) measured by the Brazilian Institute of Geography and Statistics (IBGE) has been only 0.7% since the beginning of the year, but the food item has shot up 6.10%.

 

Among the staples of the daily diet in Brazil, the price of rice has risen 19.3%, black beans 28.9%, corn flour 8.1% and soybean oil 18.6%.

 

Regarding animal proteins, according to the Getúlio Vargas Foundation (FGV), beef increased by 38%, chicken and eggs by 7.5% and pork by 19.4% between September 2019 and August 2020.   

 

– Chinese appetite –

 

The rise is mainly explained by the growing appetite of foreign buyers, and in particular China, in a context of strong depreciation of the Brazilian real against the dollar (-36% in one year) and the trade war between Beijing and Washington , which leads the Asian giant to buy more in Brazil.

 

The soybean and corn harvest, of which Brazil is the first and third world producer respectively, is expected to reach historic levels this year, but that will not alleviate the situation in the domestic market.

 

Strong external demand « reduced the supply of these foods in the Brazilian market,  because farmers prefer to export them, André Braz, an economist at FGV said.

 

Brazilian soybean exports to China increased 29.5%...

 

... The decline of the Brazilian cattle herd in the last two year and the growing demand from China have also put pressure on the prices of this animal protein, explains Thiago Bernadino, from the Center for Advanced Studies in Applied Economics of the University of Sao Paulo (Cepea)...

 

– Lockdown –

 

more

https://www.explica.co/food-prices-soar-in-brazil/

 

 

China's impact on poor Brazilians: prices of staples skyrocket, black beans 30%, rice 20%

 

MercoPress (Uruguay) 

September 14th 2020

 

Black beans are up nearly 30%, beef about 40% – Brazilians are facing a skyrocketing rise in food prices, caused by record exports to China and strong domestic demand. This rebound, amid the economic and social crisis caused by the new coronavirus pandemic, has led the president, Jair Bolsonaro, to ask the owners of supermarkets to show “patriotism” and “keep their profit margin as low as possible”.

 

Inflation (IPCA index) measured by the Brazilian Institute of Geography and Statistics (IBGE) has been only 0.7% since the beginning of the year, but the food item has shot up 6.10%.

 

Among the staples of the daily diet in Brazil, the price of rice has risen 19.3%, black beans 28.9%, corn flour 8.1% and soybean oil 18.6%.

 

Regarding animal proteins, according to the Getúlio Vargas Foundation (FGV), beef increased by 38%, chicken and eggs by 7.5% and pork by 19.4% between September 2019 and August 2020.

 

The rise is mainly explained by the growing appetite of foreign buyers, and in particular China, in a context of strong depreciation of the Brazilian real against the dollar (-36% in one year) and the trade war between Beijing and Washington , which leads the Asian giant to buy more in Brazil.

 

The soybean and corn harvest, of which Brazil is the first and third world producer respectively, is expected to reach historic levels this year, but that will not alleviate the situation in the domestic market.

 

Strong external demand “reduced the supply of these foods in the Brazilian market” because farmers prefer to export them, André Braz, an economist at FGV, told ..

 

Brazilian soybean exports to China increased 29.5% between January and August compared to the same period last year, according to data from the Ministry of Economy. The harvest of that grain should have an increase of 4.3% this year.

 

At the same time, the rise in prices of grains and oilseeds has led to higher production costs for ranchers, who feed their cows, chickens and pigs with soy and corn flour.

 

“The decline of the Brazilian cattle herd in the last two years” and the growing demand from China have also put pressure on the prices of this animal protein, explains Thiago Bernadino, from the Center for Advanced Studies in Applied Economics of the University of Sao Paulo (Cepea) .

 

Vice President Hamilton Mourao on Wednesday attributed the increase in food prices to...

 

more

https://en.mercopress.com/2020/09/14/china-s-impact-on-poor-brazilians-prices-of-staples-skyrocket-black-beans-30-rice-20