Farmers 'increasing investment in Brazil'
Date added: 23rd May, 2011 at 10:04
(view all articles from May, 2011)
Categories: Natural Resources
An increasing number of farmers are looking to invest in Brazil and improve productivity, it has been reported.
According to Reuters, it is thought that $122 billion (£75 billion) will be ploughed into the industry in 2011 - 12 per cent more than 2010.
This comes after a "commodities boom" has seen prices for sugar, coffee, soy and corn increase significantly over the past few years.
Jose Carlos Vaz, director of agribusiness at Brazil's top agricultural lender Banco do Brasil, said: "We see a new wave of optimism to invest. Everything indicates that the [price] level we will settle at will be higher in the coming years."
The news provider stated that farmers in the country are confident of agricultural prices remaining high.
They also want to boost productivity instead of simply expanding their land.
Last week, sugar cane processor Da Mata SA - Acucar e Alcool announced it is to invest in Brazil and build a second ethanol plant, which will be located in Sao Paulo, Bloomberg reported.
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