Brazil increases harvest forecast
It might interest those considering Brazilian property to know that while the world is gripped by a food crisis, harvest forecasts in Brazil have been increased, which suggests economic resilience in the nation.
Estimates revealed today (October 8th) by the Minister of Agriculture, Livestock and Supply have put the forecast for the next harvest of grain from 142.03 million to 144.55 million tonnes, it has been reported by Agencia Brasil.
The report states that during the 2007/08 harvest some 143.8 million tonnes were collected.
Reinhold Stephanes announced the figures from the National Supply Company and said the food sector must be the last affected by the international financial crisis.
He believes no one will stop buying food so demand cannot be harmed and producers will not fail to sell their stocks, even with lower prices.
The minister is quoted by the publication as saying the reduction of compulsory deposits in the Central Bank should help solve the problem in the private banks credit network.
Meanwhile Nubricks.com claims the surge in interest in the Latin American nation could have a positive effect on the interest of Brazilian property.
