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16                                                              March 2020        AgriBrasilis


            AgriBrasilis    an   interview    access to capital through           In agribusiness, the sugar
            where she spoke about the         structuring and issuing debts,   and ethanol industry has
            importance and perspectives       stock offers and other products.  suffered from its results,
            of agribusiness in the country.     With lowest interest rates at   manifested  by  a  number  of
            What is the level of Brazilian    the historical level that they are   companies undergoing judicial
            agribusiness today?               today, I see a turning point in   recovery. Although a few figures

               Agribusiness      continues    the Brazilian capital market, in   stand out in their operations,
            and will continue to be very      which  agribusiness  and  other   sugar cane mills and  farmers
            important for the Brazilian       sectors are expected to enter    have great scope for improving
            economy. The branch benefited     strong financing.                productivity  (in  the  field  as
            from the devaluation of the         UBS can also act by advising   well as in the industry), in the
            real currency in recent times,    and negotiating possible merger   processing and management of
            but presented a lower revenue     and acquisition movements        their enterprises.
            from exports in 2019, when        through its Investment Bank         Since      the      2000s,
            compared to the previous year.    teams and a global Research      agribusiness has seen its
               Despite    competitiveness,    team. And for families that own   exports  increase  at  a  rapid
            the    sector    suffers   the    agribusiness, the bank provides   pace. However, after the end of
            most in proportion to the         complete Family Office advice,   the commodity boom in 2011,
            inefficiencies linked to logistics   investment advice and equity   the export revenue stabilized.
            and        telecommunications     structuring, both locally and       With  the  current  possible
            infrastructure, in addition to    globally.                        economic      recovery,    the
            the “Brazil cost”.                How       have      financial    matter is how the segment
               Even during the last period    operations    in    Brazilian    will look in a local and global
            of   economic     “depression”    agribusiness been going?         economy in transition. Still, if
            that we suffered, agribusiness    Has this economy grown in        there is one area in which we
            continued to grow at Chinese      recent years?                    are competitive, this is food
            rates, which changed the axis                                      production, and it would also
            of  wealth  generation for  the                                    include biofuels and renewable
            interior of Brazil.                                                energies.
            What is the main role of                                           Economically, what can  be
            banks, especially UBS, in this                                     expected for the near future?
            scenario?                                exports                      After a severe crisis between
               Agribusiness is a capital-                     incresed at                         2014 and 2016, and a period of
            intensive sector. Thus, banks                   a rapid pace       great uncertainty during 2018,
            can operate on several fronts,                                     2019 showed a beginning of
            providing    producers     and                                     recovery for the economy.
            companies different types of                                ”         A more accelerated step is
            credit, facilitating producers’                                    expected in 2020, led mainly




               即使遭受了最后的经济“                       目前的利率为史上最低,                   所发展吗?
            萧条”期,农业企业仍以“中                     从这来看,我认为巴西的资                        在农业企业中,因一些企
            国的速度”增长,这改变了                      本市场会出现一个转折点,                     业正历经司法恢复,糖和乙
            巴西在国内创造财富的轴                       农业企业和其他企业将会获                     醇行业受到了影响。尽管甘
            心。                                得强有力的融资。                         蔗制糖厂和农民在经营中脱
            在这种情况下,银行尤其是                         瑞银银行(UBS)还可以                  颖而出,但在企业的加工和
            瑞银银行(UBS)扮演的主                     通过它的投资银行团队和全                     管理上,甘蔗制糖厂和农民
            要角色是什么?                           球研究团队对可能的并购提                     (不管在田间还是企业中)
               农业企业是资金密集型                     供咨询和交涉场所。 对于运                    仍需极大地提高生产效率。
            企业。因此,银行可以在多                      营农业企业的家庭,银行在                        自2000年以来,农业企
            个方面开展业务,为生产者                      当地和全球提供完整的“家                     业的出口迅速增长。 然而,
            和企业提供不同类型的信                       庭咨询办公室”,投资建议                     在2011年农贸高峰后,出
            贷,比如通过结构化和发行                      和股权结构信息。                         口收入下降并稳定下来。
            债券、股票以及供应其他产                      巴西农业企业的经济运作好                        随着当前经济复苏的可
            品,为生产者提供资金。                       不好?在近几年农业经济有                     能,农业企业在转型中的关
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