Brazilian grain merchant Agribrasil forecasts it will more than double revenue this year as Brazil’s China-fueled commodities boom boosts the company’s prospects, company founder and Chief Executive Frederico Humberg said on Wednesday(September 02, 2020).
Humberg told he now expects the firm’s revenue to surge to 1 billion reais ($186 million) this year from 390 million reais in 2019, as demand for grains like corn and soybeans remain strong.
Thanks to a weak currency and a sharp drop in logistics costs, Agribrasil will trade an estimated 1 million tonnes this year, up from 450,000 tonnes the year before, exceeding Humberg’s already optimistic expectations.
“It is an combination of factors, the market remains good and this year was fantastic despite the pandemic,” he said. Find more...
Source: Online/SZK
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