Brazil confirms mad cow disease case is isolated

: Agriculture, Fertilizers
23/03/03

Brazil's agriculture ministry confirmed that a case in the country of Bovine Spongiform Encephalopathy (BSE), or mad cow disease, in one bull was atypical, or isolated.

Tests ran in a World Organization for Animal Health (WOAH) reference-laboratory confirmed that the case of mad cow occurred spontaneously — not as the result of contamination — and in only one 9-year-old animal.

Brazil had communicated the case to the WOAH and Chinese authorities, Brazil's agriculture ministry said on 2 March.

Exports to China have been suspended as of 23 February following the official health protocol, after a test sample confirmed an occurrence of mad cow disease in a bull raised on a pasture in Para state. Thailand, Iran and Jordan also suspended imports from Brazil.

Brazil is the world's largest beef supplier and it was China's largest beef supplier in 2022, with a combined 1.1mn t of products shipped, accounting for 41pc of China's total imports. Prices of beef imported from Brazil were more competitive compared with products from other sources.

The last confirmed case of atypical BSE was in September 2021. In that occasion, beef exports to China were suspended for three months.

By Renata Cardarelli

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26/04/02

US trade deficit widens in February

Houston, 2 April (Argus) — The US trade deficit widened by 4.9pc in February as imports, including capital goods linked to the buildout of artificial intelligence (AI), grew faster than exports. The US trade deficit in goods and services rose to a seasonally adjusted $57.3bn in February from $54.7bn in January, the Bureau of Economic Analysis (BEA) reported Thursday. The deficit in goods rose to $84.6bn in February from $82.1bn in January, while the services surplus fell by $0.2bn to $27.3bn. Total US exports in February rose by 4.2pc to $314.8bn while imports rose by 4.3pc to $372.1bn. Exports of goods rose by $11.5bn to $206.9bn in February, led by shipments of non-monetary gold and industrial supplies including natural gas. Imports of goods rose by $14bn to $291.5bn in February, with capital goods imports up by $7.8bn and crude oil imports up by $1.1bn. "February's jump in imports was relatively broad-based, although imports of computer equipment and semiconductors leapt again, due to the ongoing surge in AI-related capex," Pantheon Macroeconomics said in a note. Exports of services increased by $1.2bn to $106.7bn, and services imports rose by $23bn to $79.3bn. Yearly trade gap shrinkage Still, the deficit in February shrank by more than half from $120bn a year earlier. But that could change with the Mideast Gulf war and the US high court's striking down President Donald Trump's tariffs. "The shake-up in tariff policy following the Supreme Court decision in late February, and disruptions to global supply chains due to the US-Iran war, could trigger more turbulence in the trade data," Oxford Economics' US economist Grace Zwemmer said in a note. The dollar index has climbed from 99.3 on 27 February, the day before the US-Israel war on Iran began, to 99.9 on Thursday, although it is down from 103.7 in early April last year. A stronger dollar makes US imports cheaper, while making exports less competitive. The US trade deficit edged higher to $911bn last year from $904bn in 2024, with the goods deficit rising to $1.24 trillion in 2025 from $1.215 trillion the prior year. Petroleum trade slows US exports of crude and petroleum products, including natural gas liquids, fuel oil and others on an end-use basis, totaled $20.6bn in February, little changed on the month, with imports at $16.8bn in February, up from 15.5bn in January, the report said. Exports of crude averaged 4.3mn b/d in February, up from 3.9mn b/d in January, with imports at 6.35mn b/d in February from 6.1mn b/d in January. Partners The US had a $16.5bn seasonally adjusted deficit with Vietnam in February, a $16.8bn shortfall with Mexico and a $13.1bn deficit with China. The US ran a $5.1bn deficit with the EU and a $7.6bn deficit with South Korea, a $4.7bn deficit with Japan and a $3.2bn shortfall with Germany. The US deficit with Canada narrowed to $741mn in February from January. The US had a $5.6bn surplus with the UK, a $6.8bn surplus with the Netherlands and a $3.8bn surplus with central and south America that included a $1.5bn surplus with Brazil in February. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Brazil’s industrial output falls in February

26/04/02

Brazil’s industrial output falls in February

Sao Paulo, 2 April (Argus) — Brazil's industrial output stepped down by an annual 0.7pc in February, mainly driven by auto, chemical products and machinery, according to national statistics agency IBGE. The decrease follows an annual 0.2pc increase in January and a 0.1pc decline in December. Production of intermediate goods — feedstocks for industries that do not directly reach the final consumer — rose by 1.1pc in February from a year earlier. Output of non-durable and semi-durable goods fell by 0.3pc from a year earlier. Output of capital goods and durable consumer goods were down by 13.5pc and 9.3pc, respectively, from February 2025. It is the ninth consecutive annualized decline in capital goods production. Auto, chemical products and machinery were among the largest negative contributors, down by 7.3pc, by 6.4pc and 11pc, respectively, from a year prior. Heavy vehicles and NPK fertilizers pushed down their respective categories, IBGE said. Output of petroleum coke, oil products and biofuels rose by 4pc in February from a year earlier, following a 1.2pc decline in January. Metal products output was down by 8.4pc. Brazil's central bank lowered its target rate to 14.75pc in March. Brazil's headline inflation decelerated to an annual 3.81pc in February . By João Curi Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Morocco’s OCP to cut production in 2Q

26/04/02

Morocco’s OCP to cut production in 2Q

London, 2 April (Argus) — Morocco's OCP is bringing forward scheduled maintenance at several plants, the firm said. Maintenance at some OCP plants will begin next week, although it has not said which plants will begin maintenance first. The works will affect up to 30pc of OCP's second-quarter production capacity, the company said. Morocco exported 4.40mn t of DAP, 2.71mn t of MAP and 2.98mn t of TSP last year, according to Argus data. OCP has not given a reason for its decision, but tight supply of sulphur and ammonia — key raw materials for phosphates production — following the effective closure of the strait of Hormuz are likely to be the main drivers. The Middle East supplied 52pc of Morocco's sulphur imports last year. Bad weather disrupted operations at Moroccan ports earlier this year, curbing OCP's production and exports. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Australia turns to less-established urea origins

26/04/02

Australia turns to less-established urea origins

London, 2 April (Argus) — Australia's urea importers are being forced to look to less-established sources as the strait of Hormuz closure cuts off access to their dominant supply region — with no clarity on when normal flows will resume. In recent weeks, importers have begun looking to Egypt and Nigeria. But neither of these origins has been regularly and consistently cleared under Australian Quarantine and Inspection Service (AQIS) biosecurity standards, Argus understands. There are four AQIS levels. The lowest, for unapproved origins, is level 3, which triggers a full inspection — a challenging prospect for importers already facing tight supply. Nigeria's Indorama is understood to be cleared at level 2, but no Nigerian urea has been imported by Australia, or confirmed so far, according to trade data. The Middle East typically supplies almost two-thirds of Australia's annual urea imports, while most of the remainder comes from southeast Asia. Mideast Gulf urea commitments to India — with at least 300,000t booked in a tender waiting to pass Hormuz, and an increasing likelihood of another tender — are also likely to wipe out any near-term availability should the strait reopen. There is enough urea in Australia to cover winter crop pre-seeding application, but more imports are needed for topdressing from June, according to market participants. Around 510,000t of urea has been delivered to Australia this year. And about 215,000t is currently in transit to Australia across eight vessels, tracking data from Kpler show. Calls to ease import barriers AQIS rules are expected to be a focus for importers seeking government support, particularly more flexibility around level 3, which adds costs and delays receipts. Fertilizer Australia is also urging the government to ease restrictions on Russian imports. Russian fertilizers lack accreditation from the Department of Agriculture, Fisheries and Forestry and cannot currently be imported. The government plans to amend policies to provide guarantees, extend loans and undertake other arrangements to secure imports. While these initiatives are primarily aimed at fuel, fertilizer buyers should be able to benefit too. AQIS barrier AQIS is a major obstacle to sourcing urea from less-established origins, especially as inspections are required for both supply chain and vessel. AQIS assigns a level only to the entire supply chain from plant to vessel, not to individual components such as warehouses, trucks or belts. The vessel is assessed separately. If any element of either the supply chain or vessel is graded level 3, the entire shipment defaults to level 3, and this rule also applies to combined cargoes of multiple products or origins. The AQIS system has four levels. Gold carries no checks and is awarded only to supply chains that have consistently performed at level 1. Level 1 involves random checks primarily at berth. Level 2 requires more extensive inspection at unloading and in warehouses. And level 3 requires full inspection and isolation of the product. Vessel classifications are handled separately through the AFF1 and AFF2 system, with AFF1 the higher standard. Direct plant-to-vessel loading is the easiest configuration to certify, while mixed-use port facilities, uncovered conveyor belts and non-dedicated trucking routes pose the greatest risk of triggering a level 3 designation. For importers exploring new origins, the risk is significant because level 1 cannot be guaranteed after inspection. But securing alternative tonnes could be essential for normal wheat and barley topdressing in June–July. By Dana Hjeij Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Trump pledges to 'finish the job' quickly in Iran

26/04/02

Trump pledges to 'finish the job' quickly in Iran

Washington, 1 April (Argus) — President Donald Trump on Wednesday said the US is on track to finish all of its military objectives in the war against Iran "very shortly", but he again called on other countries dependent on Mideast Gulf oil to figure out how to reopen the strait of Hormuz. In his first prime time address to the US public since launching the war with Iran on 28 February, Trump made no new announcements about his plans for the course of the conflict. US armed forces have achieved "overwhelming victories on the battlefield", Trump said. Even so, Trump said he expects the war will continue for weeks, during continued negotiations with Iran and despite his claim earlier in the day that Tehran had asked for a ceasefire. "We're going to hit them extremely hard over the next two to three weeks," Trump vowed. "We're going to bring them back to the stone ages, where they belong." Trump used the speech to repeat messages he had posted over the last few days on his social media platform. Countries that depend on oil shipped through the strait of Hormuz should "build up some delayed courage", Trump said, and take control of the waterway where 20pc of global oil flows. "They must grab it and cherish it," Trump said. "They can do it easily. We will be helpful, but they should take the lead in protecting the oil that they so desperately depend on." Trump openly mocked those countries that refused to join the US war effort and now can not get enough oil with the strait largely closed to traffic. "I have a suggestion: Buy oil from the United States of America," Trump said. "We have plenty. We have so much." And Trump mused that when the conflict ends, "the strait will open up naturally", since Iran will want to sell oil to rebuild. Trump acknowledged that many in the US are "concerned" to see gasoline prices rising, which he blamed "entirely" on the attacks Iran launched on tankers and neighboring countries. Trump said the war in Iran was not so long, when compared with other wars. Trump's national address comes at a time when Republicans are facing declining popularity over the war and its economic ramifications. The conflict has undercut a central message that Trump's policies have lowered prices at the pump and eased inflation. US motorists are now paying $1.05/USG more for gasoline and $1.59/USG more for diesel than they were before the war began. EU countries have begun to slash growth forecasts for 2026 and 2027 in response to surging commodity prices caused by the closure of the strait of Hormuz. Ryanair chief executive on Wednesday warned the budget airline and other European carriers may need to start cutting flights if the strait remains closed. US allies are confronting a position of dealing with the political fallout of rising prices for a war they did not initiate. "This is not our war," UK prime minister Keir Starmer said on Wednesday. "We will not be drawn into the conflict. That is not in our national interest." The most effective way to ease surging prices, Starmer said, is to push for "de-escalation in the Middle East". The long-term national interest of the UK will require "closer partnership with our allies in Europe and with the European Union", he said. Trump and his cabinet have signaled plans to pull back from Nato, out of their view that members of the defense alliance have failed to offer enough support in the war against Iran. The administration plans to review if remaining in Nato is still serving US interests, US secretary of state Marco Rubio said. "There is no doubt, unfortunately, after this conflict is concluded, we are going to have to re-examine that relationship," Rubio said in an interview on Fox News on Tuesday. Trump can not pull the US out of Nato without an affirmative vote by two thirds of the US Senate, under a 2023 law that was enacted in response to Trump's threats during his first term to exit the defense alliance. US senators Mitch McConnell (R-Kentucky) and Chris Coons (D-Delaware) on Wednesday said the Senate would continue to support Nato. By Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Brazil confirms mad cow disease case is isolated

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