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Traders sue Brazilian farmers for defaulting on early sales


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Farmers may be able to make more money by paying fine in contract and selling the same soybeans on the spot market.
Bloomberg | Feb 24, 2021
By Tatiana Freitas
Some Brazilian soybean farmers are defaulting on forward sales made months ago when prices were lower, sparking lawsuits and potentially causing financial losses for trading houses.
Farmers in the world’s largest producer and exporter of the oilseed have sold the most supply ever in advance this season, boosted by strong demand and a weak Brazilian real. By last July, 40% of the 2020-21 crop was already disposed of, compared with the five-year average of 12%. Since the first negotiations, prices more than doubled on robust China demand, causing some farmers to regret selling so much volume. ....

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Angola: Open for Investment


January 14, 2021
Angola, as the second-largest oil producer in sub-Saharan Africa, holds approximately 8.2 billion barrels of proven oil reserves. Contributing to 50% of gross domestic product and nearly 90% of national exports, oil represents an invaluable resource to the domestic economy. The country also holds the fourth-largest proven natural gas reserves in Africa – approximately 343 billion cubic meters – along with significant renewable potential in solar and wind. In a bid to offset declining hydrocarbon production, the Angolan Government has implemented several key initiatives focused on spurring new exploration activities, increasing foreign direct investment and incentivizing local participation within the industry. Accordingly, Angola is set to become a prime investment destination in 2021, as it seeks a year of revival for its prolific oil and gas industry. ....

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Diplomat points out Angola as potential regional economic centre

Diplomat points out Angola as potential regional economic centre
angop.ao - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from angop.ao Daily Mail and Mail on Sunday newspapers.

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Angola: Diplomat Points Out Angola As Potential Regional Economic Centre

Angola: Diplomat Points Out Angola As Potential Regional Economic Centre
allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.

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