Expointer, an agricultural fair held in Rio Grande do Sul, one of the most traditional grain producing states in Brazil, went online for the first time in September 2020 in its 43rd edition.
In March, Brazil’s President Jair Bolsonaro, issued national guidelines banning states from restricting activities related to the agricultural sector due to the coronavirus.
In November, the Brazilian Central Bank dropped the reference interest rate 0.5% to 5%. A new report from Bradesco, the second largest private bank in Brazil, suggests interest rates could fall again to 4.5% in December or January. For some major players, the transition from a subsidized market to a non-subsidized one will be difficult.
Agricultural machinery sales reached R$2.38 billion (approx. $756 million) in revenues during the first quarter of 2017 in Brazil, according to the president of the Sectorial Chamber of Machinery and Agricultural Implements, Pedro Estevao Bastos de Oliveira.
John Deere Brazil is launching the new S400 grain harvesters that will include two models: S430 and S440. According to the company, the S400 series cause less soil compaction, which is critical for machinery working in flooded terrains commonly seen on rice crops.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.