International Trade News
Brazil meat exporters had a week of both good and bad news as they seek new markets in Latin America to capitalize on the depreciation of the local currency, the real, which has recently buoyed the country’s beef exports.
Nepal will be given access to China’s Bohai Rim port of Tianjin in an agreement signed in Beijing this week, allowing the landlocked mountain republic to break its near total dependence on trade routes through India.
Exports of Brazilian beef jumped by more than a quarter in February year-over-year, which bodes well for the country’s exporters who have already been forecasting a bumper year ahead because of the weak national currency and the lifting of export bans.
Containerized imports at U.S. ports are likely to plunge more than 20 percent in March after increasing 21.4 percent in January and 17.1 percent in February from the same months last year, according to Global Port Tracker.
China has just given clearance to 17 more Brazilian slaughterhouses to export pork, beef and chicken to the Asian country, which would increase meat exports to China by roughly a third as overall trade between China and Brazil is stuck in reverse gear.
China’s exports tumbled 25.4 percent year-over-year in February and imports fell 13.8 percent as the country's trade slowdown accelerated, catching some analysts by surprise.
Global economic growth will be stuck in low gear this year at around 2.5 percent, continuing the weak GDP that has put the brakes on trade for the past few years, IHS Chief Economist Nariman Behravesh told the 2016 TPM Conference in Long Beach on Monday.
Brazil’s Minister for Ports, Helder Barbalho, outlined his plans to bring billions of dollars of new investment into the port sector at a seminar in Sao Paulo this week.
Driven by firm shipments of auto parts and aircraft, the Port of Nagoya in 2015 retained its status as the biggest export hub by value among Japan’s airports and seaports for the fourth straight year.
Brazilian chicken exporters are making the most of a cheap and devalued currency to boost worldwide sales by attending a number of food and beverage expositions with a view to increasing exports by more than 10 percent by the end of this year, according to industry association ABPA.