US firm invests in Brazil
A US-based firm has indicated its confidence in Brazil by completing the takeover of a sugarcane firm in the country, it has been reported.
Monsanto has purchased Brazilian firm Aly Participacoes that operated sugarcane breeding and technology firms CanaVialis and Alellyx, according to the Brazil Magazine.
Those considering buying property in Brazil could be interested to hear the news which shows the US firms confidence in the nation.
Carl Casale, the US firm’s executive vice-president of global strategy and operations, told the publication: "We look forward to working with our new colleagues at CanaVialis and Alellyx to combine our areas of breeding expertise to enhance yields in sugarcane."
He added that the crop is vital to ways of dealing with the world’s growing food and fuel demands.
Meanwhile, the publication reported this week that the Central Bank of Brazil revealed foreign spending in the country was up in October.
Official statistics showed an inflow of $478 million (£321 million) during the month which represents growth of some 9.78 per cent compared to the same period last year.
