Trust keeps Brazil-Arab food corridor open

During the second panel of the Brazil & Arab Countries Economic Forum in São Paulo, business leaders and officials from both regions discussed maintaining trade despite challenges such as volatile fertilizer prices and geopolitical tensions. Frank Nadimi, from S&P Global Energy Consulting, highlighted issues like maritime blockades and climate effects impacting global trade.

Nadimi noted that although oil prices have surged, the market continues to absorb these impacts, with results expected by 2027. Brazil's resilience was praised by panelists, who also spoke about the country's diversification of ports and growing ethanol production. Qatar emphasized its food security policy based on supply-chain networking, local production, and strategic stockpiling.

Rumaitha Al Busaidi, Head of Business Development at Oman’s Hydrom, stated that Qatar diversifies its food supply to avoid dependence on a single supplier, and noted that imports from Brazil now include fertilizers, reducing costs. Brazil's exports of chicken to the Middle East remained stable, with exports falling by just 5% from January to July 2023 despite the Strait of Hormuz being closed.

Ali Zoghbi, vice president of FAMBRAS Halal Certifier, highlighted Brazil's trustworthiness as a halal exporter, attributing it to mutual understanding and empathy. Rafael Requião of Brazil's Ministry of Agriculture and Livestock highlighted the potential for trade in fertilizers and other inputs, stressing the importance of peace and security for sustainable development.

The forum, organized by the Arab-Brazilian Chamber of Commerce, received support from various institutions and companies.