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Brazil Property News: Brazil forecasts record harvest
15th July 2008 02:28
Those considering buying property in Brazil could be interested to hear the nation is expecting a booming harvest this year, official statistics suggest.
According to the June report by the country's Geography and Statistics Institute (IBGE), the 2008 yield is expected to be almost eight per cent higher than that of 2007, Mercopress reports.
This could be good news for Brazilian property as unlike many countries that are experiencing the effects of the global food crisis it appears the Latin American nation is not which means prices are unlikely to soar and people will have more money for rent.
IBGE figures forecast a record harvest of cereals, vegetables and oilseeds in the region of 143.6 million metric tonnes despite the "harsh climatic conditions" states the report.
Meanwhile, Brazzil Mag reported that state-owned oil giant Petrobras celebrated a new production record last month, which saw output soar by 4.2 per cent compared to the same time last year further hinting at economic buoyancy in the Latin American nation.
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How to invest in Brazilian property
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