Weak Dollar Worries Brazil’s Agriculture Officials

    Brazil’s Minister of Agriculture, Roberto Rodrigues, says that the country’s present exchange rate, characterized by a devaluation of the dollar, could affect growth in the farm sector.

    “We are still growing in exports and as a percentage of total GDP. But no one can say how long this is going to last,” said the Minister.


    Speaking at a seminar for journalists who report on the agricultural sector, Rodrigues cited the problem with soy.


    “Today the price for soy in dollars is good. But with our farmers getting only 49 sacks per hectare, it is hard to make ends meet,” said the Minister.


    A year ago, with the dollar at 3 reais, soy income was strong. But, today with the dollar at 2.40 reais, it is another story. And the story is that Brazilian farmers are getting fewer reais for the same amount of produce, explained Rodrigues.


    The Minister also pointed out that, on the other hand, with the dollar devaluation, some farm expenses have been reduced. That applies to fertilizers and pesticides with prices tied to the dollar.


    All in all, said the minister, the situation in the agricultural sector is complex.


    ABr – www.radiobras.gov.br

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