11 December 2012 23:09 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--Net revenues for Brazil’s chemical industry in 2012 are projected to hit Brazilian reais (R) 293bn ($140.9, €108.5), an increase of 12.4% compared to revenues in 2011, the Brazilian Chemical Industry Association (Abiquim) said on Tuesday.
Revenues for the industrial chemical sector should climb to R137.4bn, up by 11.3% compared to last year, Abiquim said.
For agricultural pesticides, revenues are forecast to rise 19% year on year to R17.1bn.
Meanwhile, fertilizer revenues should reach R33bn, up 15.4% compared to 2011.
However, Brazil's chemical trade deficit for 2012 will hit a record $28.1bn, up from $26.5bn in 2011, according to Abiquim’s projections.
Chemical imports in 2012 will rise by 1.9% year on year to nearly $43.1bn, while exports for the year will fall by 4.4 % to $15.1bn, Abiquim said.
At an industry meeting in Sao Paulo, Abiquim vice president Marcos de Marchi said the group is negotiating with the government to adopt further measures to increase the competitiveness of Brazilian chemicals.
“Some progress has been made in reducing interest rates and encouraging innovation, but more incentives are needed,” said Marchi.
($1 = R2.08)
($1 = €0.77)
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