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The
Future of Biofuels: A Global Perspective (November
2007). Global biofuel production tripled between 2000
and 2007, but still accounts for less than 3 percent of
the transportation fuel supply worldwide. Biofuels will
likely be part of a portfolio of solutions to high energy
prices, including conservation, more efficient energy
use, and use of other alternative fuels.
Brazil's
Booming Agriculture Faces Obstacles (November 2006). Brazil has emerged as
an important player in global food and agricultural markets,
but the long-term growth of Brazilian agriculture could slow
due to supply-side factors. At the same time, growth and changes
in food demand in Brazil could dampen growth in processed and
high-value agro-food exports.
How Does Structural
Change in the Global Soybean Market Affect the U.S. Price? (April 2004). South
American soybean production, combined with the U.S. soybean stocks-to-use
ratio, provides a strong basis for forecasting U.S. soybean prices.
South American soybean production accounts for much of the global
structural change that has altered the relationships among U.S.
soybean production, use, stocks, and price.
U.S. Agriculture and the Free Trade
Area of the Americas (March 2004). The Free Trade Area of the Americas (FTAA),
under negotiation among the United States and 33 countries in the
Western Hemisphere, will progressively liberalize trade and investment
in the region. The FTAA will lead to an estimated 6-percent increase
in annual U.S. agricultural exports to the Hemisphere and a 3-percent
increase in annual U.S. agricultural imports from the Hemisphere.
International Evidence on Food
Consumption Patterns (October 2003). Analysis of major consumption expenditures
across 114 countries indicates that poorer countries are more responsive
to price and income changes and also allocate larger shares of their
total budget to necessities such as food.
Many factors determine the Structure
of the Global Markets for Meat (September 2003), including the relative availability
of resources for raising and processing animals for meat. Countries'
preferences for various cuts of meat provide opportunities for international
trade.
Agriculture in Brazil and Argentina:
Developments and Prospects for Major Field Crops (January 2002). Recent increases
in international competitiveness by Argentine and Brazilian grain
and soybean producers likely foreshadow continued global trade-share
gains, particularly for soybeans and soybean products. Macroeconomic
and policy developments, particularly those related to exchange
rates, and infrastructure improvements will remain central to each
country's future prospects.
The Brazilian Sugar Industry: Recent
Developments (September 2001). Since Brazil can produce either sugar or ethanol
from sugarcane, it is one of the few countries that can adjust sugar
production rapidly to potential world sugar shortfalls and high
international prices. Moreover, Brazilian government policies supporting
economic liberalization are likely to increase sugar production
and exports.
Lower Real
Boosts Brazil's Agricultural Exports (March 2000). Following economic crises
in Asia and Russia, Brazil suffered its own financial crisis, which
was exacerbated by capital flight. Brazil devalued its currency,
the real, 32 percent, which had an immediate, positive effect—enhancing
the competitiveness of Brazil's agricultural exports. ERS analysis
describes the Brazilian financial crisis and its effects on Brazilian
farmers and international agricultural prices and trade.
Brazil's Financial
Crisis and the Potential Aftershocks (March 1999). Brazil is known primarily
as an agricultural exporter, not an importer. Crisis-related currency
devaluation increased the competitiveness of its agricultural exports
vis-a-vis U.S. exports, including soybeans and soy products. Brazil's
exports to the United States—coffee, orange juice, and others—also
benefited from the devaluation.
U.S. Foreign Direct Investment in
Brazil's Processed Food Industry (March 1998). U.S. foreign direct investment
(FDI) in Brazil's processed food industry doubled from $1.03 billion
in 1990 to $2.15 billion in 1999, which increased sales for U.S.
food companies in the growing Brazilian market. Trade characteristics,
such as exports, imports, and tariffs, and industry-specific characteristics,
such as industry size and concentration, explain the surge in FDI.
U.S. FDI may complement, rather than substitute for, processed food
exports from the United States.
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