Generic Hero BannerGeneric Hero Banner
Latest market news

Acordo entre Heringer e empresas russas fracassa

  • Market: Agriculture, Fertilizers
  • 06/01/20

A produtora brasileira de fertilizantes Heringer não conseguiu chegar a um acordo com a Uralkali e a Uralchem a respeito da venda de uma fatia de controle para ambas as empresas russas, encerrando mais de três meses de negociações.

O término das tratativas no final de dezembro ocorreu apenas alguns dias depois de o Conselho Administrativo de Defesa Econômica (Cade) aprovar a transação. Essa havia sido uma etapa necessária para o fechamento do negócio depois que os credores aceitaram o plano de reorganização da empresa, que propôs cortar até 75pc de sua dívida não garantida de R$1,5bilhão.

As empresas russas anunciaram em setembro que haviam concordado em comprar 51,5pc da Heringer, posteriormente adquirindo o restante por meio de um aumento de capital.

Depois que os reguladores aprovaram o plano, a aprovação dos acionistas da Heringer ainda era necessária para se concluir o negócio. A produtora canadense Nutrien possui uma participação de 9,5pc e a OCP, do Marrocos, outros 10pc, dando a cada uma delas o direito de preferência nas ofertas pela empresa brasileira.

No comunicado datado de 27 de dezembro, a Heringer informou que as partes não chegaram a um consenso "não obstante terem envidado os seus melhores esforços para concluir as negociações em termos e condições aceitáveis".

Antes das dificuldades financeiras eclodirem, a Heringer operava mais de 20 misturadoras e uma planta de SSP no Brasil.

Por José Roberto Gomes


Sharelinkedin-sharetwitter-sharefacebook-shareemail-share

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

News
05/02/25

Australian beef exports hit record high in January

Australian beef exports hit record high in January

Dalby, 5 February (Argus) — Australian beef exports hit a record high in January, with volumes of chilled and frozen beef surpassing the previous high set in January 2020, the Australian Department of Agriculture said. Beef exports reached 81,049t in January 2025, a rise from 75,585t in January 2024 and slightly more than the previous high of 79,221t exported in January 2020. This comes on the back of strong exports in December 2024. Processors typically engage in capacity rebuilding in January after the Christmas holiday break for abattoir staff. Throughput is typically weighed down by weaker cattle availability across northern Australia over the monsoon season in November-April. But exports in January 2025 remained strong despite the challenges, with processing throughput reaching a high of 140,908 heads in the week to 24 January. Exporters took advantage of robust global prices and the availability of cattle because of dry conditions in southern Australia and a late wet season across Queensland and the Northern Territory. The majority of exports in January were sent to the US, accounting for 24,685t or 30pc of total global exports. This is a rise from the 20,308t the US imported in January 2024. Imports to the west coast ports of the US more than doubled compared with a year earlier, reaching 7,112t. Demand from the US was strong, particularly the demand for lean trim, as a result of a domestic production shortage caused by a declining cattle herd. This has pushed up prices for Australian lean trim, with prices for 85CL nearing A$9.50/kg and Bull 95CL surpassing A$10.50/kg, Argus data show. Demand and prices will likely remain steady throughout 2025 because the US cattle herd has yet to begin rebuilding, market participants said. Exports of chilled and frozen beef to Japan and Korea have slightly decreased on the year in January to 15,806t and 10,596t respectively, down by less than 10pc from a year earlier. Higher prices for fatty trim, coupled with weaker local economies, have weighed on Asian demand for Australian beef. But imports to China rose in January 2025 compared with a year earlier, with 15,315t shipped for the month after active buying in December. Exports to other countries including the EU, Canada, Thailand and Dubai also increased in January 2025 compared with a year earlier, on the back of record high volumes of beef production in Australia in 2024. By Amy Phillips Australian beef exports (t) Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Find out more
News

Tariffs not only US threat to Canada canola oil


04/02/25
News
04/02/25

Tariffs not only US threat to Canada canola oil

New York, 4 February (Argus) — Canadian canola farmers have reason to celebrate a last-minute deal to at least delay US tariffs. Changing US biofuel policies, however, could dim their excitement. The two countries agreed Monday to pause for a month 25pc tariffs on most Canadian imports, including agricultural products like canola oil. While best known for its use in food, canola oil has become an increasingly important ingredient in US biofuel production. Canada exported 800,000 lbs of crude canola oil to the US in 2021, before US regulators allowed more canola-based fuels to qualify for a biofuel mandate, but more than three times that total over just 11 months in 2024 according to customs data. Canola oil from all origins made up around 12pc of the US biomass-based diesel feedstock mix last year. The challenge for Canada is that policies in the US that helped cement canola oil's role in biofuel production are increasingly encouraging producers to use other feedstocks. The mere threat of tariffs could speed that trend along. A long-running US tax credit for blenders of biomass-based diesel expired last year and was replaced by the Inflation Reduction Act's "45Z" credit, which requires fuels to meet an initial carbon intensity threshold and then ups the subsidy as emissions fall. This shift was always expected to benefit waste feedstocks over crops, which incur a carbon penalty for land changes and fertilizer use. The clear message to refiners — both from the US government and from California regulators that run the state's influential low-carbon fuel standard — has been to diversify beyond vegetable oils. But an updated emissions model released by the Department of Energy last month surprised some in the industry by assessing the default carbon intensity of canola-based fuels as too high to automatically qualify for 45Z. Although fuels from soybean oil generally earn some credit, diesels made from canola oil could go from earning $1/USG last year to nothing this year. Before even factoring in potential tariffs, Canadian canola oil appears less attractive for refiners than even competing crops. Guidance on 45Z is preliminary , meaning canola crushers can push for final rules that are less restrictive. But energy lobbyists say privately that they do not expect the new administration to act with urgency to implement an incentive created by Democratic lawmakers and oriented around climate change. And many Republicans' concern with the credit is not that it is too harsh on canola — but that it is too permissive of foreign feedstocks they see as hurting US crop demand. The introduction of 45Z could simultaneously leave Canadian biofuel producers less able to backfill canola oil demand if US buyers look elsewhere. The credit can only be claimed by US producers, cutting off subsidies for imported fuels. At the same time, 45Z does not require fuel to be consumed stateside — meaning that US biorefineries can send subsidized fuel abroad to chase additional incentives Canada offers for biofuel usage. "The on-again off-again status of US tariffs and Canada's counter-tariff response do not alter the bare economics of biofuel production between jurisdictions when one has an exportable tax credit and the other does not," said Fred Ghatala, president of Advanced Biofuels Canada. The future of renewable diesel production in Canada, previously expected to grow significantly to the benefit of farmers, is in doubt. ExxonMobil's Canadian subsidiary is on track to open a 20,000 b/d renewable diesel plant this year, but other companies collectively representing more production capacity are wavering. Plans for an integrated canola crush and 15,000 b/d renewable diesel facility in Saskatchewan were paused last month. And it is unclear if Braya Renewable Fuels' 18,000 b/d biorefinery in Newfoundland is running now or if Tidewater Renewables' 3,000 b/d British Columbia plant will run after March. If demand from Canadian biorefineries remains limited, some traders expect that Trump's tariff threats could divert more canola oil previously bound for the US to Europe . But there is no perfect alternative to the US market, which accounted for 91pc of all Canadian canola oil exports in 2023 according to the US Department of Agriculture. "There is logistics capacity to sell canola oil, seed, or meal abroad. That's certainly an option," said Chris Vervaet, executive director of the Canadian Oilseed Processors Association. "The best option though is to continue to maintain and grow our trade relationship with our most important trade partner, which is the United States." By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

Abu Dhabi's Adnoc rolls over sulphur price in February


04/02/25
News
04/02/25

Abu Dhabi's Adnoc rolls over sulphur price in February

London, 4 February (Argus) — Abu Dhabi's state-owned Adnoc set its February official sulphur selling price (OSP) for the Indian subcontinent at $174/t fob Ruwais, stable from its January OSP. Adnoc's February OSP implies a delivered price of $190-191/t cfr India, with the freight cost for a 40,000-45,000t shipment to the east coast of India last assessed at $16-17/t on 30 January. The announced OSP fob price rose by $105/t from $69/t fob Ruwais in February 2024. By Maria Mosquera Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

US soy crush falls behind export demand in December


03/02/25
News
03/02/25

US soy crush falls behind export demand in December

St Louis, 3 February (Argus) — Increased export demand for soybean meal and soybean oil pulled stocks below year ago levels in December despite record soybean crush over the month, according to US Department of Agriculture (USDA) data. US soybean crush reached a record-setting 5.92mn t in December, up by 6pc over the prior year. US soybean meal production gained 7pc over the prior year, reaching 4.38mnt, while crude soybean oil production gained 8pc to reach 1.17mn t. While soybean meal production increased by 7pc, December use gained 12pc over the prior year to reach 4.42mn t. US soybean meal use has, in part, been driven higher by increased export demand. Current USDA projections place US soybean meal exports at 15.79mn t for the 2024-25 marketing year, up by 8pc from the prior year. So far, export sales data indicates this level is likely to be reached, with 9.21mn t sold for export through 23 January of the marketing year, 11pc above the same interval of the 2023-24 marketing year. With soybean meal use exceeding production over the month of December, stock levels declined counter seasonally to 380,000t, dropping stock-to-use ratios two percentage points from year ago levels. Crude soybean oil use also gained over the prior year, up 13pc, to reach 1.14mn t. Both refining and non-refining uses for crude soybean oil remained above year ago levels over December. Refined soybean oil production increased 11pc from the prior year, reaching 870,000t. Non-refining use gained 19pc over the prior year to reach 250,000t. As with soybean meal, use has been driven higher over the 2024-25 marketing year by much higher export demand. Through 23 January, export sales of US soybean oil reached 672,000t, a nearly twenty-fold increase over the same period of the 2023-24 marketing year. As a result, crude soybean oil stock levels dipped 14pc from the prior year to their lowest level or record, down to 540,000t, pulling the stock-to-use ratio down 14 percentage points to 48pc. By Ryan Koory US soybean crush and products Dec Chg from Nov Chg from Prior year Soybeans ( mn t ) Soybeans crushed 5.92 0.21 0.37 Soybean meal ( mn t ) Produced 4.38 0.15 0.29 Use 4.42 0.34 0.51 Ending stocks 0.38 -0.04 -0.03 Stocks to use 8pc -2pcp -2pcp Crude soybean oil ( mn t ) Produced 1.17 0.04 0.09 Use 1.14 0.02 0.15 Refined 0.89 0.05 0.10 Non-refining 0.25 -0.03 0.05 Ending stocks 0.54 0.03 -0.07 Stocks to use 48pc 2pcp -14pcp Refined soybean oil ( mn t ) Produced 0.87 0.04 0.09 Use 0.86 0.05 0.10 Ending stocks 0.23 0.01 0.02 Stocks to use 26pc -1pcp -2pcp — USDA Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

Tariffs to raise US domestic sulphur prices


03/02/25
News
03/02/25

Tariffs to raise US domestic sulphur prices

London, 3 February (Argus) — US sulphur consumers face higher prices as a result of President Donald Trump imposing tariffs on commodity imports from Canada and Mexico, which — along with the prospect of counter-measures — could disrupt North American sulphur trade in multiple ways. Trump issued an executive order on 1 February to impose 25pc tariffs on imports from Canada, reduced to 10pc for energy imports, and 25pc on all Mexico-sourced commodities, with the measures to come into effect on 4 February . The tariffs on energy imports from Canada and Mexico could raise sulphur prices for US consumers in two ways — directly, by increasing the price of Canadian sulphur imported to the US, and indirectly, by increasing the price of sour crude imports for US refineries, which is likely to lead to reduced flows resulting in lower domestic sulphur production and higher prices. Canadian sulphur is imported to the US for fertilizer production and industrial use, and tariffs would lead to a rise in delivered pricing of Canadian sulphur as a raw material for US fertilizer producers, with the likely knock-on impact of higher finished fertilizer prices. The US imported 850,000t of Canadian sulphur in January-November, with the majority being molten sulphur shipped by rail to the east coast, Midwest or Rocky Mountains regions. Canadian sulphur accounted for more 93pc of US sulphur imports during this period, up from 89pc from the same period in 2023. This high level of dependency is likely to mean that importers will have to accept higher prices in the near term while searching for alternative sources. Trade flow impact For their part, Canadian sulphur suppliers have some limited flexibility to increase their solid sulphur exports through Vancouver port to markets such as China, and limit liquid sulphur rail shipments to the US if tariffs make such shipments uneconomical. But a significant switch in the near term is unrealistic. Solid sulphur exports loaded at Vancouver port rose by 245,000t in 2024, bringing overall exports up by 7pc to 3.35mn t . The top destination for Canadian prilled sulphur from Vancouver last year was China, at 1.54mn t. Exports of solid sulphur through Vancouver have risen as a result of increased remelting and prilling of blocked sulphur this year from Alberta's roughly 12mn t of sulphur blocks built over time. This is expected to accelerate in 2025 as the new prilling capacity becomes more stable following earlier technical problems. But a lack of prilling capacity, the cost of additional processing, as well as limits on rail and port warehousing and loading capacity, will cap the potential to increase solid exports in the short term. Tightening availability and increasingly challenging affordability of Canadian sulphur could in turn push large US consumer Mosaic to import more solid sulphur from the Middle East for remelting in Tampa for fertilizer production. Smaller consumers, particularly in the northeast US, would likely be faced with the tariff impact. But the US may have more of its own sulphur available if Mexico responds to the US measures with counter-tariffs that disrupt the flow of US sulphur south. The US exported 376,000t of sulphur to Mexico in the first 11 months of 2024. Sulphur produced in the Gulf coast could be shipped by rail to the regions where Canadian sulphur is typically consumed, assuming infrastructure and railcar availability. But the increased freight cost could offset any potential savings relative to the 25pc tariff. In addition to rising sulphur costs, US fertilizer producers also face increased costs for imports of Canadian ammonia. These raw material price increases would be likely to be passed on to farmers, and with Canada also a large supplier of potash to the US fertilizer market, US farmers could bear the brunt of inflation driven by tariffs. Crude spillover Tariffs on crude trade between the US, Canada and Mexico will also impact the sulphur market. Canada and Mexico both export sour crude to the US, but the tariffs are likely to result in supplies from those countries being redirected to other markets. This could tighten the supply of sour crude to US refineries, reducing domestic sulphur production and pushing up prices. Mexico's state-owned oil company Pemex has more flexibility to divert its seaborne flows on economic grounds than Canadian heavy crude producers, whose output is primarily transported by pipeline to US refiners . By Maria Mosquera and Chris Mullins US sulphur imports* Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more