IBOV 175,999 ▲ 0.14% IPSA 10,891 ▲ 0.49% IPC MEX 68,927 ▼ 1.56% MERVAL 3,076,577 ▲ 0.15% COLCAP 2,194.76 ▼ 1.51% BVL PERÚ 19,767 ▲ 0.37% USD/BRL 5.02 ▼ 0.70% USD/MXN 17.31 ▼ 0.30% USD/CLP 890.21 ▼ 0.43% USD/COP 3,638 ▼ 0.94% USD/PEN 3.41 ▲ 0.16% USD/ARS 1,409 ▼ 0.23% USD/UYU 40.09 ▲ 1.61% USD/PYG 6,039 ▲ 0.26% USD/BOB 6.85 ▲ 1.30% USD/DOP 58.14 ▼ 0.27% USD/CRC 449.56 ▲ 2.15% USD/GTQ 7.62 ▲ 2.31% USD/HNL 26.63 ▲ 0.29% USD/NIO 36.62 ▲ 0.31% USD/VES 543.22 ▲ 1.59% USD/PAB 1.00 ▲ 2.20% USD/BZD 2.00 ▲ 1.63% USD/JMD 156.19 ▲ 0.15% USD/TTD 6.74 ▲ 1.21% EUR/BRL 5.86 ▼ 0.16% BRENT 92.38 ▼ 2.03% WTI 88.83 ▲ 0.17% IRON ORE 161.91 — — COPPER 6.43 ▲ 1.90% GOLD 4,540 ▲ 2.07% SILVER 76.16 ▲ 2.09% SOY 1,195 ▲ 0.80% CORN 456.00 ▲ 0.77% WHEAT 622.75 ▲ 0.04% COFFEE 273.90 ▲ 1.50% SUGAR 13.92 ▼ 1.56% ORANGE JUICE 168.70 ▲ 0.96% COTTON 76.63 ▲ 0.62% COCOA 4,071 ▼ 1.67% BEEF 241.00 ▼ 4.15% CATTLE 352.95 ▼ 0.47% LITHIUM 87.66 ▲ 2.49% PETR4 42.50 ▼ 0.75% VALE3 83.91 ▲ 0.55% ITUB4 40.23 ▼ 0.22% BBDC4 18.03 ▲ 0.17% ABEV3 16.44 ▼ 1.02% BBAS3 20.90 ▼ 0.76% B3SA3 16.66 ▲ 1.09% WEGE3 43.89 ▲ 1.01% PRIO3 62.99 ▲ 0.02% SUZB3 41.99 ▼ 0.24% RENT3 43.26 ▲ 1.03% AZZA3 20.35 ▼ 1.45% CSAN3 3.95 ▼ 1.50% RAIZ4 0.35 ▼ 16.67% PCAR3 1.96 ▼ 1.51% GMAT3 4.23 ▼ 0.70% PSSA3 48.54 — 0.00% CVCB3 1.62 ▼ 4.14% POSI3 4.17 ▲ 0.97% SLCE3 15.92 ▲ 0.19% NATU3 10.25 ▲ 2.81% BRKM5 11.32 — 0.00% RANI3 7.98 ▲ 0.63% CSNA3 6.76 ▲ 3.21% CMIN3 4.74 ▲ 2.38% USIM5 10.61 ▲ 3.71% GGBR4 23.61 ▼ 0.55% ENEV3 25.27 ▲ 0.52% NEOE3 33.80 — 0.00% CPFE3 43.40 ▼ 1.77% CMIG4 11.17 ▲ 0.09% EQTL3 38.59 ▲ 1.58% LREN3 15.16 ▲ 1.95% VIVT3 33.82 ▼ 0.32% RAIL3 13.81 ▼ 1.71% KLABIN 16.77 ▼ 0.06% RAIA DROGASIL 19.10 ▲ 3.24% RDOR3 34.69 ▲ 0.84% HAPV3 12.78 ▲ 3.06% FLRY3 15.77 ▼ 1.31% SMTO3 17.32 ▲ 1.05% UGPA3 27.20 ▼ 1.02% VBBR3 31.22 ▲ 0.64% BBSE3 34.70 ▼ 0.46% BPAC11 54.79 ▼ 0.36% CURY3 32.08 ▲ 1.91% AERI3 2.35 ▲ 0.86% VIVARA 22.36 ▲ 0.81% COMPASS 27.10 ▲ 2.26% VAMOS 3.23 — 0.00% SANB11 27.49 ▲ 0.07% ASAI3 8.96 ▼ 3.14% SBSP3 28.51 ▼ 0.18% WALMEX 53.05 ▼ 2.80% GMEXICO 215.01 ▼ 0.28% FEMSA 208.07 ▼ 2.31% CEMEX 22.69 ▼ 1.09% GFNORTE 187.59 ▼ 1.01% BIMBO 58.77 ▼ 0.99% TELEVISA 9.78 ▼ 1.01% AMX 22.36 ▼ 1.11% GAP 409.40 ▼ 3.36% ASUR 300.67 ▼ 1.61% OMA 217.99 ▼ 1.20% KOF 186.19 ▼ 2.20% GRUMA 295.51 ▼ 0.47% KIMBER 38.17 ▼ 2.33% SQM-B 74,819 ▼ 0.82% COPEC 6,600 ▲ 2.41% BSANTANDER 71.66 ▼ 0.21% FALABELLA 5,872 ▲ 0.69% ENELAM 78.31 ▼ 0.27% CENCOSUD 2,144 ▲ 0.61% CMPC 1,131 ▲ 0.95% BANCO CHILE 172.26 ▼ 0.51% LATAM AIR 23.62 ▼ 0.21% YPF 76,500 ▼ 0.16% GGAL 7,210 ▲ 0.91% PAMPA 4,953 ▼ 0.10% TXAR 667.50 ▼ 1.40% ALUAR 998.00 ▲ 0.35% TGS 9,120 ▲ 0.94% CEPU 2,275 ▼ 1.17% MIRGOR 16,675 ▼ 2.34% COME 47.20 ▼ 1.75% LOMA NEGRA 3,518 ▼ 1.47% BYMA 292.75 ▲ 0.43% TELECOM ARG 4,095 ▼ 1.44% ECOPETROL 14.74 ▼ 1.21% BANCOLOMBIA 69.67 ▼ 1.57% GRUPO AVAL 4.69 ▼ 1.47% CREDICORP 339.81 ▼ 2.42% SOUTHERN COPPER 194.50 ▲ 3.60% BUENAVENTURA 35.32 ▲ 1.99% MERCADOLIBRE 1,705 ▲ 0.55% NUBANK 13.20 ▲ 1.27% XP 17.06 ▼ 0.47% PAGSEGURO 9.43 ▲ 1.67% STONE 11.46 ▲ 0.93% GLOBANT 39.04 ▲ 0.57% TECNOGLASS 43.59 ▲ 1.16% GAP AIRPORT 237.01 ▼ 2.94% ASUR 300.67 ▼ 1.61% OMA AIRPORT 100.90 ▼ 1.26% AMX ADR 25.86 ▼ 0.44% FEMSA ADR 120.26 ▼ 1.96% CEMEX ADR 13.11 ▼ 0.79% PETROBRAS ADR 18.94 ▼ 0.11% VALE ADR 16.66 ▲ 0.88% ITAU ADR 7.97 ▲ 0.06% SANTANDER BR 5.50 ▲ 0.18% AMBEV ADR 3.26 ▼ 0.46% CSN 1.36 ▲ 2.65% GERDAU 4.70 ▼ 0.53% LATAM ADR 53.14 ▲ 0.02% BTC 73,577 ▼ 1.03% ETH 2,023 ▲ 0.03% SOL 82.65 ▲ 0.34% XRP 1.33 ▲ 1.75% BNB 640.97 ▼ 1.11% ADA 0.24 ▼ 0.32% DOGE 0.10 ▼ 0.21% AVAX 9.03 ▼ 0.08% LINK 9.06 ▼ 0.80% DOT 1.22 ▼ 0.56% LTC 51.95 ▲ 0.05% BCH 304.30 ▼ 8.87% TRX 0.35 ▼ 3.99% XLM 0.21 ▲ 30.29% HBAR 0.09 ▲ 7.21% NEAR 2.38 ▼ 4.80% ATOM 2.03 ▼ 4.76% AAVE 80.92 ▼ 2.78% SELIC 14.50% EMBRAER 73.94 ▲ 0.60% EMBRAER ADR 58.80 ▲ 1.26% JBS 13.28 ▲ 0.42% JBS BDR 66.62 ▼ 0.31% MBRF3 16.12 ▼ 1.04% MBRFY 3.23 ▲ 1.89% INTER 6.46 ▲ 0.72% EGX 52,659 ▼ 0.38% USD/ZAR 16.22 ▼ 0.94% USD/NGN 1,373 ▲ 0.04% NIKKEI 64,693 ▼ 0.47% CSI300 4,914 ▲ 0.12% HSI 25,006 ▼ 1.27% NIFTY 23,907 ▼ 0.03% KOSPI 8,185 ▼ 0.53% JCI 6,130 ▼ 1.23% USD/JPY 159.19 ▼ 0.13% USD/CNY 6.7791 ▲ 0.01% DAX 25,092 ▼ 0.34% CAC 8,189 ▼ 0.23% FTSE 10,426 ▼ 0.75% MIB 49,825 ▲ 0.50% IBEX 18,279 ▼ 0.55% STOXX 625.11 ▼ 0.49% EUR/USD 1.1658 ▲ 0.25% GBP/USD 1.3446 ▲ 0.13% SPX 7,566 ▲ 0.61% DJI 50,615 ▼ 0.06% NDX 30,257 ▲ 0.95% RUT 2,937 ▲ 0.60% TSX 34,547 ▲ 0.39% VIX 15.76 ▼ 3.25% USD/CAD 1.3778 ▼ 0.43% US10Y 4.4530 ▼ 0.62% IBOV 175,999 ▲ 0.14% IPSA 10,891 ▲ 0.49% IPC MEX 68,927 ▼ 1.56% MERVAL 3,076,577 ▲ 0.15% COLCAP 2,194.76 ▼ 1.51% BVL PERÚ 19,767 ▲ 0.37% USD/BRL 5.02 ▼ 0.70% USD/MXN 17.31 ▼ 0.30% USD/CLP 890.21 ▼ 0.43% USD/COP 3,638 ▼ 0.94% USD/PEN 3.41 ▲ 0.16% USD/ARS 1,409 ▼ 0.23% USD/UYU 40.09 ▲ 1.61% USD/PYG 6,039 ▲ 0.26% USD/BOB 6.85 ▲ 1.30% USD/DOP 58.14 ▼ 0.27% USD/CRC 449.56 ▲ 2.15% USD/GTQ 7.62 ▲ 2.31% USD/HNL 26.63 ▲ 0.29% USD/NIO 36.62 ▲ 0.31% USD/VES 543.22 ▲ 1.59% USD/PAB 1.00 ▲ 2.20% USD/BZD 2.00 ▲ 1.63% USD/JMD 156.19 ▲ 0.15% USD/TTD 6.74 ▲ 1.21% EUR/BRL 5.86 ▼ 0.16% BRENT 92.38 ▼ 2.03% WTI 88.83 ▲ 0.17% IRON ORE 161.91 — — COPPER 6.43 ▲ 1.90% GOLD 4,540 ▲ 2.07% SILVER 76.16 ▲ 2.09% SOY 1,195 ▲ 0.80% CORN 456.00 ▲ 0.77% WHEAT 622.75 ▲ 0.04% COFFEE 273.90 ▲ 1.50% SUGAR 13.92 ▼ 1.56% ORANGE JUICE 168.70 ▲ 0.96% COTTON 76.63 ▲ 0.62% COCOA 4,071 ▼ 1.67% BEEF 241.00 ▼ 4.15% CATTLE 352.95 ▼ 0.47% LITHIUM 87.66 ▲ 2.49% PETR4 42.50 ▼ 0.75% VALE3 83.91 ▲ 0.55% ITUB4 40.23 ▼ 0.22% BBDC4 18.03 ▲ 0.17% ABEV3 16.44 ▼ 1.02% BBAS3 20.90 ▼ 0.76% B3SA3 16.66 ▲ 1.09% WEGE3 43.89 ▲ 1.01% PRIO3 62.99 ▲ 0.02% SUZB3 41.99 ▼ 0.24% RENT3 43.26 ▲ 1.03% AZZA3 20.35 ▼ 1.45% CSAN3 3.95 ▼ 1.50% RAIZ4 0.35 ▼ 16.67% PCAR3 1.96 ▼ 1.51% GMAT3 4.23 ▼ 0.70% PSSA3 48.54 — 0.00% CVCB3 1.62 ▼ 4.14% POSI3 4.17 ▲ 0.97% SLCE3 15.92 ▲ 0.19% NATU3 10.25 ▲ 2.81% BRKM5 11.32 — 0.00% RANI3 7.98 ▲ 0.63% CSNA3 6.76 ▲ 3.21% CMIN3 4.74 ▲ 2.38% USIM5 10.61 ▲ 3.71% GGBR4 23.61 ▼ 0.55% ENEV3 25.27 ▲ 0.52% NEOE3 33.80 — 0.00% CPFE3 43.40 ▼ 1.77% CMIG4 11.17 ▲ 0.09% EQTL3 38.59 ▲ 1.58% LREN3 15.16 ▲ 1.95% VIVT3 33.82 ▼ 0.32% RAIL3 13.81 ▼ 1.71% KLABIN 16.77 ▼ 0.06% RAIA DROGASIL 19.10 ▲ 3.24% RDOR3 34.69 ▲ 0.84% HAPV3 12.78 ▲ 3.06% FLRY3 15.77 ▼ 1.31% SMTO3 17.32 ▲ 1.05% UGPA3 27.20 ▼ 1.02% VBBR3 31.22 ▲ 0.64% BBSE3 34.70 ▼ 0.46% BPAC11 54.79 ▼ 0.36% CURY3 32.08 ▲ 1.91% AERI3 2.35 ▲ 0.86% VIVARA 22.36 ▲ 0.81% COMPASS 27.10 ▲ 2.26% VAMOS 3.23 — 0.00% SANB11 27.49 ▲ 0.07% ASAI3 8.96 ▼ 3.14% SBSP3 28.51 ▼ 0.18% WALMEX 53.05 ▼ 2.80% GMEXICO 215.01 ▼ 0.28% FEMSA 208.07 ▼ 2.31% CEMEX 22.69 ▼ 1.09% GFNORTE 187.59 ▼ 1.01% BIMBO 58.77 ▼ 0.99% TELEVISA 9.78 ▼ 1.01% AMX 22.36 ▼ 1.11% GAP 409.40 ▼ 3.36% ASUR 300.67 ▼ 1.61% OMA 217.99 ▼ 1.20% KOF 186.19 ▼ 2.20% GRUMA 295.51 ▼ 0.47% KIMBER 38.17 ▼ 2.33% SQM-B 74,819 ▼ 0.82% COPEC 6,600 ▲ 2.41% BSANTANDER 71.66 ▼ 0.21% FALABELLA 5,872 ▲ 0.69% ENELAM 78.31 ▼ 0.27% CENCOSUD 2,144 ▲ 0.61% CMPC 1,131 ▲ 0.95% BANCO CHILE 172.26 ▼ 0.51% LATAM AIR 23.62 ▼ 0.21% YPF 76,500 ▼ 0.16% GGAL 7,210 ▲ 0.91% PAMPA 4,953 ▼ 0.10% TXAR 667.50 ▼ 1.40% ALUAR 998.00 ▲ 0.35% TGS 9,120 ▲ 0.94% CEPU 2,275 ▼ 1.17% MIRGOR 16,675 ▼ 2.34% COME 47.20 ▼ 1.75% LOMA NEGRA 3,518 ▼ 1.47% BYMA 292.75 ▲ 0.43% TELECOM ARG 4,095 ▼ 1.44% ECOPETROL 14.74 ▼ 1.21% BANCOLOMBIA 69.67 ▼ 1.57% GRUPO AVAL 4.69 ▼ 1.47% CREDICORP 339.81 ▼ 2.42% SOUTHERN COPPER 194.50 ▲ 3.60% BUENAVENTURA 35.32 ▲ 1.99% MERCADOLIBRE 1,705 ▲ 0.55% NUBANK 13.20 ▲ 1.27% XP 17.06 ▼ 0.47% PAGSEGURO 9.43 ▲ 1.67% STONE 11.46 ▲ 0.93% GLOBANT 39.04 ▲ 0.57% TECNOGLASS 43.59 ▲ 1.16% GAP AIRPORT 237.01 ▼ 2.94% ASUR 300.67 ▼ 1.61% OMA AIRPORT 100.90 ▼ 1.26% AMX ADR 25.86 ▼ 0.44% FEMSA ADR 120.26 ▼ 1.96% CEMEX ADR 13.11 ▼ 0.79% PETROBRAS ADR 18.94 ▼ 0.11% VALE ADR 16.66 ▲ 0.88% ITAU ADR 7.97 ▲ 0.06% SANTANDER BR 5.50 ▲ 0.18% AMBEV ADR 3.26 ▼ 0.46% CSN 1.36 ▲ 2.65% GERDAU 4.70 ▼ 0.53% LATAM ADR 53.14 ▲ 0.02% BTC 73,577 ▼ 1.03% ETH 2,023 ▲ 0.03% SOL 82.65 ▲ 0.34% XRP 1.33 ▲ 1.75% BNB 640.97 ▼ 1.11% ADA 0.24 ▼ 0.32% DOGE 0.10 ▼ 0.21% AVAX 9.03 ▼ 0.08% LINK 9.06 ▼ 0.80% DOT 1.22 ▼ 0.56% LTC 51.95 ▲ 0.05% BCH 304.30 ▼ 8.87% TRX 0.35 ▼ 3.99% XLM 0.21 ▲ 30.29% HBAR 0.09 ▲ 7.21% NEAR 2.38 ▼ 4.80% ATOM 2.03 ▼ 4.76% AAVE 80.92 ▼ 2.78% SELIC 14.50% EMBRAER 73.94 ▲ 0.60% EMBRAER ADR 58.80 ▲ 1.26% JBS 13.28 ▲ 0.42% JBS BDR 66.62 ▼ 0.31% MBRF3 16.12 ▼ 1.04% MBRFY 3.23 ▲ 1.89% INTER 6.46 ▲ 0.72% EGX 52,659 ▼ 0.38% USD/ZAR 16.22 ▼ 0.94% USD/NGN 1,373 ▲ 0.04% NIKKEI 64,693 ▼ 0.47% CSI300 4,914 ▲ 0.12% HSI 25,006 ▼ 1.27% NIFTY 23,907 ▼ 0.03% KOSPI 8,185 ▼ 0.53% JCI 6,130 ▼ 1.23% USD/JPY 159.19 ▼ 0.13% USD/CNY 6.7791 ▲ 0.01% DAX 25,092 ▼ 0.34% CAC 8,189 ▼ 0.23% FTSE 10,426 ▼ 0.75% MIB 49,825 ▲ 0.50% IBEX 18,279 ▼ 0.55% STOXX 625.11 ▼ 0.49% EUR/USD 1.1658 ▲ 0.25% GBP/USD 1.3446 ▲ 0.13% SPX 7,566 ▲ 0.61% DJI 50,615 ▼ 0.06% NDX 30,257 ▲ 0.95% RUT 2,937 ▲ 0.60% TSX 34,547 ▲ 0.39% VIX 15.76 ▼ 3.25% USD/CAD 1.3778 ▼ 0.43% US10Y 4.4530 ▼ 0.62%
since 2009
Thursday, May 28, 2026

130 Million New Customers: Ethiopia Authorizes Brazilian Meat Imports

By · April 8, 2026 · 3 min read

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Key Points

Ethiopia authorized imports of 17 Brazilian agricultural products including beef, poultry, and pork — opening Africa’s second-most-populous nation (130 million people) to Brazilian protein exports

The openings are the first under new Agriculture Minister André de Paula, who took office last week, and push Brazil past 500 new market authorizations since Lula’s term began in 2023

Brazil is the world’s largest beef exporter with record 2025 shipments of 3.5 million metric tons ($18 billion) — and diversification into Africa reduces dependence on China, which absorbs 48% of exports

Ethiopia’s authorization of Brazilian beef, poultry, and pork marks the latest step in a systematic market-opening campaign that has reshaped the geography of Brazil’s protein exports.

Ethiopia opened its market to 17 Brazilian agricultural products on Tuesday, including beef, poultry, and pork — the first market authorizations under newly appointed Agriculture Minister André de Paula. Luis Rua, the ministry’s trade and international relations secretary, confirmed the openings to Valor Econômico, noting that Ethiopia’s population of approximately 130 million people makes it a strategically important destination in East Africa. The authorizations extend Brazil’s record of surpassing 500 new market openings for agricultural goods since the start of Lula’s current term in 2023.

Why Ethiopia Matters

Ethiopia is Africa’s second-most-populous nation and one of the continent’s fastest-growing economies, with a livestock market valued at $870 million in 2025 and projected to approach $1 billion by 2034. The country has historically been a meat exporter, particularly of goat and sheep carcasses to the Middle East, but its domestic protein demand is rising rapidly with urbanization and income growth. For Brazilian exporters, the Ethiopian opening represents a foothold in a region where protein consumption per capita remains well below global averages — and where growth potential is measured in decades, not quarters.

The timing aligns with Brazil’s broader push to diversify away from its dependence on China, which absorbed 48% of the country’s record $18 billion in beef exports in 2025. While China remains the dominant buyer at 1.68 million metric tons, Rabobank projects Brazilian beef exports will hit a new record of 4.4 million metric tons in 2026 despite a 5–6% production decline — driven by strong global demand, a weak real, and reduced competition from other suppliers. Africa is the logical next frontier: the continent’s population will double to 2.5 billion by 2050, and protein imports are forecast to grow faster than any other region.

Live Market IntelligenceBrazil — Live Market BoardInside: market breadth, the sector heatmap, currencies & rates, the Latin America scoreboard and the full instrument board.

Rio Times · Live Market Intelligence

Brazil — Live Market Board

B3 · São Paulo
May 28, 2026 · 15:15

Ibovespa · benchmark
175,999
+0.14%
L 174,686day rangeH 176,627

+26.72% over 12 months

Market breadth · 15 names
53% advancing

8 ▲ advancing7 declining ▼

Currencies, rates & key inputs
USD / BRL
5.02
-0.70%

EUR / BRL
5.86
-0.16%

Selic rate
14.50%
·

Brent crude
92.38
-2.03%

Iron ore
161.91
·

Sector heatmap · average move today
Mining
+1.07%
VALE3, CSNA3, GGBR4

Industrials
+1.02%
WEGE3, RENT3

Utilities
+0.52%
ENEV3

Financials
+0.07%
ITUB4, BBDC4, BBAS3, B3SA3

Materials
-0.24%
SUZB3

Energy
-0.37%
PETR4, PRIO3

Consumer Staples
-1.02%
ABEV3

Consumer Disc.
-1.45%
AZZA3

Latin America scoreboard
IndexLastTodayStrength
IbovespaBrazil
175,999
+0.14%

S&P/BMV IPCMexico
68,927
-1.56%

S&P IPSAChile
10,891
+0.49%

S&P MERVALArgentina
3,076,577
+0.15%

MSCI COLCAPColombia
2,194.76
-1.51%

BVL S&P PerúPeru
19,767
+0.37%

Full instrument board
Instrument Last Change YoY Prev. High Low Volume
IBOV 175,999 +0.14% +26.72% 175,744 176,627 174,686
USD/BRL 5.02 -0.70% -10.89% 5.06 5.07 5.02
SELIC 14.50%
PETR4 42.50 -0.75% +35.22% 42.82 43.18 42.24 27,884,700
VALE3 83.91 +0.55% +57.16% 83.45 84.05 82.24 7,574,700
ITUB4 40.23 -0.22% +9.68% 40.32 40.45 39.72 11,290,800
BBDC4 18.03 +0.17% +11.64% 18.00 18.22 17.82 20,075,800
BBAS3 20.90 -0.76% -13.16% 21.06 21.18 20.82 9,475,400
B3SA3 16.66 +1.09% +16.43% 16.48 16.67 16.11 13,470,500
ABEV3 16.44 -1.02% +16.60% 16.61 16.65 16.42 15,785,900
WEGE3 43.89 +1.01% -1.70% 43.45 44.02 43.28 2,192,600
PRIO3 62.99 +0.02% +60.82% 62.98 63.96 61.65 4,421,000
SUZB3 41.99 -0.24% -17.76% 42.09 42.49 41.62 1,870,400
RENT3 43.26 +1.03% -0.21% 42.82 43.60 42.11 4,536,500
AZZA3 20.35 -1.45% -51.21% 20.65 20.79 20.22 507,600
CSNA3 6.76 +3.21% -22.15% 6.55 6.77 6.40 10,741,500
GGBR4 23.61 -0.55% +48.68% 23.74 24.04 23.53 6,215,900
ENEV3 25.27 +0.52% +76.24% 25.14 25.53 24.96 1,208,100

Largest moves today
CSNA3
6.76
+3.21%
AZZA3
20.35
-1.45%
B3SA3
16.66
+1.09%
RENT3
43.26
+1.03%
ABEV3
16.44
-1.02%
WEGE3
43.89
+1.01%
BBAS3
20.90
-0.76%
PETR4
42.50
-0.75%

The session read
The Ibovespa rose 0.14%, with breadth positive — 8 of 15 names higher. Mining led, while Consumer Disc. lagged.

The Market-Opening Machine

Brazil’s Agriculture Ministry has turned sanitary market access into a systematic industrial policy. The 500-plus openings since 2023 span dozens of countries and product categories, from beef and poultry to dairy, genetics, and processed foods. The approach is bilateral and technical rather than multilateral — negotiating country by country, product by product, through veterinary inspections and phytosanitary certifications that can take years to complete. The Ethiopia deal is a product of that pipeline.

For André de Paula, who replaced Carlos Fávaro as agriculture minister last week as part of Lula’s pre-election cabinet reshuffle, Ethiopia is a quick early win. But the real test will be whether the ministry can maintain the pace of openings through an election year while simultaneously managing the complications of the Hormuz oil crisis — which is raising fertilizer costs across the region — and the ongoing US tariff negotiations that determine access to Brazil’s second-largest export market. With diesel prices elevated and the cattle cycle beginning to turn, every new market that absorbs Brazilian protein at international prices matters more than usual.

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