Brazilian hide prices at historic lows
Published: 09 Jan, 2019
The CICB indicator of the average green hide price begins the year at the level reached in week-51, 2018, when it reached the historical low of R$1.27/kg.
The national currency, after the weakness seen in the last 5-6 weeks of the year, has rapidly fallen back towards the values of October, in the region or R$3.71/US$. This is among the lowest levels of the second half of 2018, but still much higher than the rates seen in the preceding couple of years, when the rate kept mostly in the R$3.10-3.30/US$ range, favouring exports.
There is much expectation as to where the new President, who began his mandate at the start of the year, will lead the country, and if he’ll make true on his economic liberalism electoral promises. For more information click here.