Only HMI could miss out on this!8 Sep 2020 12:39
By Roberto Samora
SAO PAULO, Sept 1 (Reuters) - "The price of Brazilian agricultural
commodities such as soybeans, corn, coffee and rice has reached record levels as
strong demand and a weak currency drove prices higher in local currency,
according to data from Cepea, a research center linked to the São Paulo
University.
Brazil's soybean quotes are up by more than 50% in nominal terms compared to
the same period last year, as China continues to buy ever larger amounts of the
oilseeds from Brazil, Cepea data showed. On Monday, Brazil's main export product
hit 137.76 reais per 60 kg bag, less than 2 reais below an all-time high of 139
reais in 2012.
In the case of coffee, the rise in Arabica prices was more than 45% in 12
months, also in nominal terms, despite the fact that Brazil is wrapping up a
record harvest, the data showed.
Even as Brazilian farmers collect more than 100 million tonnes of corn this
season, the price of the cereal, which is used to make livestock feed, rose more
than 65% in 12 months, to a new nominal record above 60 reais per 60-kg bag,
according to data from Cepea."
Are the sales team still working from home ?