Brazil, France launch €1bn program to protect Amazon
Brazil and France launched a four-year, €1bn ($1.1bn) investment program to protect the Amazon rainforest using private and public funds, the countries said on Tuesday as French president Emmanuel Macron is visiting the South American nation.
"Gathered in Belem, in the heart of the Amazon, we, Brazil and France, Amazonian countries, have decided to join forces to promote an international roadmap for protection of tropical forests," the two countries said.
Under the program, Brazil's public banks — such as the Bndes development bank — and the French development agency will form "technical and financial partnerships."
The two countries also agreed to develop new research projects on sustainable sectors and create a research hub to share technologies to develop the bioeconomy.
Macron and Brazilian president Luiz Inacio Lula da Silva visited Belem — near the mouth of the Amazon and the host city of Cop 30 — on 26 March. During the trip, indigenous leader and environmental campaigner Raoine Metuktire, of the Kayapo tribe, urged Lula to prevent construction of the 900km (559-mile) Ferrograo railroad, which could lower costs of transporting grains from Mato Grosso state, Brazil's largest agricultural producer.
Macron will also visit Rio de Janeiro, Sao Paulo and capital Brasilia. This is his first trip to Brazil, as he had cut ties with the South American country during former president Jair Bolsonaro's administration. Bolsonaro put little focus on environmental protections during his term, policies that his successor has reversed.
Brazil now aims to reach zero deforestation by 2030. It reduced deforestation in the Amazon by almost 50pc last year, according to government data.
Deforestation in the region hit 196km² in January-February, a 63pc drop from the same period in 2023 and a six-year low, according to NGO Imazon, which focuses on research to promote climate justice in the Amazon.
Related news posts
India's GSFC receives offers in tender to buy DAP
India's GSFC receives offers in tender to buy DAP
London, 9 May (Argus) — Indian importer GSFC likely received offers from two trading firms ranging in the high-$510s/t cfr to around $520/t cfr, under its 8 May tender to buy 100,000t of DAP. The tender sought offers for 50,000t of natural-coloured DAP and 50,000t of "coffee-brown" DAP for delivery to Kandla or Munda on India's west coast at the end of June or in early July. Fellow importer NFL has scrapped its 6 May tender to buy 50,000t of DAP for delivery by the end of May. It had received one offer from a trading firm. Another importer Smartchem on 8 May issued a counterbid of $479/t cfr against the six offers received in its 6 May tender. The initial offers had ranged from the low-$510s/t cfr to the low-$520s/t cfr. Smartchem gave the companies which had offered until close of business on 9 May to accept. The tender had sought 60,000t of DAP in two 30,000t cargoes for delivery by the second half of June. Importer Hindalco earlier this week awarded its 1 May tender to buy 40,000-45,000t of DAP to a regional trading firm at around $508/t cfr, initially reported as around $509/t cfr. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
US amsul imports reach record high in March
US amsul imports reach record high in March
Houston, 8 May (Argus) — US ammonium sulfate (amsul) imports reached a record high in March, bringing importsfor the current fiscal year to date to record high levels as well. US imports of ammonium sulfate reached 171,200 metric tonnes (t) in March, according to the latest data from the US Census Bureau. Monthly imports in March topped the previous record high set in February by 2,300t . Volumes in March 2024 were double the March average of the past 10 years. Year to date imports during the 2024 fiscal year — which runs July-June to track the fertilizer crop year — through March reached 824,000t, up 75pc from the year prior. Offshore imports arriving at Nola in April are currently estimated at nearly 51,100t, according to bill of lading data. Amsul supply has been short this spring, caused by several production outages beginning in January](https://direct.argusmedia.com/newsandanalysis/article/2531726). Prices have remained elevated for amsul because of limited supply, while other nitrogen fertilizers have been on the decline in recent weeks. Recent imports were priced at $407.5/st fob, compared to year-ago levels of $327.5/st fob. By Meghan Yoyotte US ammonium sulfate imports ’000t Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Produção de veículos aumenta em abril
Produção de veículos aumenta em abril
Sao Paulo, 8 May (Argus) — A produção brasileira de veículos subiu 24pc em abril, em um cenário de vendas crescentes no mercado interno. A produção de veículos atingiu 222.115 unidades em abril, em comparação com 178.853 no mesmo mês em 2023, informou a Associação Nacional dos Fabricantes de Veículos Automotores (Anfavea). Em relação a março, a produção cresceu 13pc. No acumulado desde janeiro, houve alta de 6,3pc, para 760.114 unidades. Já as vendas saltaram 37pc em comparação com o mesmo período do ano anterior. O licenciamento de veículos totalizou 220.840 unidades no mês, 17pc maior do que em março. O Brasil exportou cerca de 27.330 unidades em abril, queda de 19pc na base anual e alta de 16pc em relação ao mês anterior. "Temos pela frente alguns pontos de alerta, como a redução do ritmo de queda dos juros e os efeitos da calamidade no Rio Grande do Sul", disse o presidente da Anfavea, Márcio de Lima Leite. Leite acrescentou que as enchentes no estado já estão afetando fábricas de veículos, máquinas agrícolas e componentes usados por toda a cadeia automotiva. As chuvas já deixaram mais de 100 mortos, segundo a Defesa Civil do Rio Grande do Sul. Outras 128 pessoas estão desaparecidas e cerca de 164.000 perderam suas casas. Por Laura Guedes Participação de mercado de veículos leves por combustível % Abr-24 Abr-23 ± (pp) Gasolina 3,6 2,5 1,1 Elétricos 3,2 0,4 2,8 Híbridos 2,3 2,1 0,2 Híbridos Plug-in 1,7 0,7 1 Flex 79,5 83,4 3,9 Diesel 9,6 10,9 -1,3 Anfavea Envie comentários e solicite mais informações em feedback@argusmedia.com Copyright © 2024. Argus Media group . Todos os direitos reservados.
Low US natgas prices help ammonia economics
Low US natgas prices help ammonia economics
Houston, 8 May (Argus) — Nitrogen fertilizer production costs in the US are primed to hit historically low levels through the third quarter, potentially creating favorable margin and arbitrage opportunities during the offseason as bloated natural gas inventories depress key feedstock prices. Estimated ammonia production costs for most US producers tied to Henry Hub natural gas prices have spent the last 12 consecutive weeks below $100/short ton (st) on sub-$2/mmBtu feedstock prices. They should benefit from sub-$3/mmBtu natural gas costs through October, based on the 7 May Nymex futures curve. A mild winter stemmed seasonal withdrawals from natural gas storage and mitigated heating demand. US natural gas inventories exited the 2023-24 winter at the highest seasonal levels in eight years. High inventories help contain US gas prices by easing concerns about spikes in demand or supply shortfalls. Slackened natural gas demand has continued through April and has maintained downward price pressure, even as producers curtail output. The US Energy Information Administration (EIA) said that it expects inventory growth to lag average levels in the coming months as producers cut output in response to lower prices. But inventories were still expected to exit the injection season, when gas stockpiles are replenished to meet winter heating needs, at an all-time high above 4.1 Tcf, the EIA said. Natural gas is the primary feedstock for US ammonia producers, comprising on average 60-70pc of total production costs at current prices. Ammonia production costs have not spent this long below $100/st since May-July 2020, according to Argus data. Ammonia is a key feedstock for urea and UAN manufacturing. Sinking feedstock ammonia costs lowers the cost floor for upgraded nitrogen alternatives and fosters favorable margin opportunities. US producer CF Industries said during its first quarter results the energy curves between North America and Europe — with the latter a higher-cost ammonia production hub — remain wider than historical levels, creating potential arbitrage scenarios. Ammonia production costs based on the Dutch TTF natural gas day-ahead contract, which serves as the European benchmark, have averaged more than three-times more than those tied to Henry Hub since January, according to Argus data. "Longer term, we expect the global energy cost structure to continue to provide significant margin opportunities for our North American production network," CF chief executive Tony Will said during the company's earnings call. By Connor Hyde Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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