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With supply above the demand, prices drop
Cepea, February 5, 2024 – Despite weather problems in several regions in Brazil and the lower production compared to that estimated previously, the supply still prevails over the demand, reinforcing price decreases in the domestic market. The production is not as limited as indicated by some agents, there is a low volume already traded in advance and losses in Brazilian crops may be counterbalanced by the production increase in Argentina and in Paraguay. As for the demand, the Chinese interest in the national product continues low
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