By ELIZABETH VILLARRODE and MALCOLM KILMEADEAssociated Press – MARCH 16, 2019Brazil’s biggest soybean maker Armos has agreed to sell its plant in Brazil’s north to a Brazilian company, which has plans to turn the soybean crop into feed for dairy cows.
The agreement with the Brazilian agrochemicals company Soyacom will be the latest of many deals Armos and Brazil’s soybean exporters have struck over the past two years, as the country has struggled to cope with a sharp drop in world soybean prices.
The sale of the Armos plant, which was once Brazil’s biggest, is one of the largest such deals in the country.
The Brazilian government is still trying to decide what role it will play in the sale.
In January, Armos said it would sell off the plant in order to buy up other soybean producers in Brazil.
Armos, which produces about half of Brazil’s beans, is also trying to get into the soy milk business.
Brazil’s soy industry has been a top priority of President Michel Temer, who has vowed to reduce Brazil’s reliance on exports of soybeans and boost domestic production.
Temer has promised to cut the country’s imports of soy by 80 percent by 2022 and double the number of dairy cows by 2020.
Brazilian soy farmers, who rely on soybeans for the majority of their income, have been facing an economic crisis since prices for the crop fell in 2016.
Temers government has tried to revive the industry, but it has faced opposition from many farmers, including some farmers who argue that the government should pay more for the commodity.
Soybeans are a major source of income for Brazil’s agricultural sector.
It accounts for more than one-third of the countrys gross domestic product and accounts for a quarter of its soybean exports.
Brazil has had a hard time meeting demand for its soybeans, which are produced primarily by the country of about 1.3 million people.
But the commodity is a major export for some Brazilian soy farmers who have struggled to make ends meet as they compete for a dwindling market.
Brazil is one the world’s top soy exporters and a major exporter of its milk products, which include skim milk, whole milk and skimmed soy products.
Brazil also has some of the worlds largest soy-growing areas, with about 5 million hectares of soy growing in Brazil, with soy production increasing by 40 percent since 2015.
Brazil will now have a new crop to buy, which will be called “Ebacao,” after the Brazilian word for “milk.”
The plant’s price will be set at the current Brazilian soybean price of $11.15 a metric ton, or $3.63 per kg.
Brazil soy is a very expensive commodity for Brazil.
Brazil exported about $14 billion worth of soybean to the U.S. in 2016, according to the World Bank.