FB

Meta Platforms, Inc.

196.64
USD
0.51%
196.64
USD
0.51%
169.00 384.33
52 weeks
52 weeks

Mkt Cap 465.31B

Shares Out 2.37B

Chat
Send me real-time posts from this site at my email

Brazil's Petrobras puts potash mining rights up for sale

Adds more details, context SAO PAULO, Aug 11 (Reuters) - Brazil's Petrobras PETR4.SA said on Thursday it has begun the process of looking for bidders for its potassium mining rights in the Amazon basin. The asset is composed of eight mining concessions, four mining requests already granted and 22 requests for research which are still pending authorization. Interest in potash mines in Brazil is growing as the mineral is a key fertilizer and the Ukraine war has highlighted the country's dependence on imports of the product. Brazil's farm sector relies on imports for 85% of its fertilizer use. In March, Verde Agritech PLC NPK.TO said its board approved accelerated investment so it can boost output capacity and become Brazil's largest potash producer. (Reporting by Peter Frontini; Editing by Christian Plumb and Tom Hogue) ((Peter.Siqueira@thomsonreuters.com; +55 11 56447727;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. KUALA LUMPUR, Aug 5 (Reuters) - Malaysian palm oil futures jumped more than 2% on Friday tracking Chicago soyoil, but the contract logged its first weekly loss in three on expectations of rising supplies. The benchmark palm oil contract FCPOc3 for October delivery on the Bursa Malaysia Derivatives Exchange gained 79 ringgit, or 2.07%, to 3,900 ringgit ($875.62) a tonne. For the week, the contract fell 9.6%. Malaysia's palm oil inventories at end-July likely jumped to an eight-month high due to improving production and soaring imports, a Reuters survey showed on Thursday. But production worries due to workers shortages are raising concerns about the quality of the processed crude palm oil and yields are on the decline, said Paramalingam Supramaniam, director at Selangor-based brokerage Pelindung Bestari. The Malaysian Palm Oil Board is scheduled to release its data next week. Exports from Malaysia during Aug. 1-5 rose 24.5% from the same week in July, cargo surveyor Intertek Testing Services said. Traders are expecting higher overseas shipments from Indonesia after the country lowered its crude palm oil export duty reference price for Aug. 1-15, making its products more competitive than Malaysian palm oil. Dalian's most-active soyoil contract DBYcv1 fell 0.9%, while its palm oil contract DCPcv1 gained 2.6%. Soyoil prices on the Chicago Board of Trade BOcv1 were up 0.9%. Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market. ($1 = 4.4540 ringgit) cpohttps://tmsnrt.rs/3P4s5Tg (Reporting by Mei Mei Chu; Editing by Subhranshu Sahu, Rashmi Aich and Shailesh Kuber) ((Meifong.chu@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue