Brazilian agribusiness grows 5.26% in the first half

National Confederation of Agriculture (CNA)

Thanks to bumper crops and favorable exchange rates, the Brazilian agribusiness grew 5.26 percent in the first half of 2020 from a year earlier, the National Confederation of Agriculture (CNA) stated.

As per the report, the services and supplies segments saw growth by over 4.7% and 1.6% respectively while agro-industry fell 0.76 percent amid the ongoing crisis triggered by COVID-19.

“On the supply side, the massive grain harvest has guaranteed meeting the growing international demand for Brazilian agro-industrial products, also driven by the devaluation of the real against the dollar,” the CNA said.

Editorial Desk at Agrigate.Global

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