Brazil Roundup: Record high retail sales, industrial confidence rises to 48.9, more than 500 farms in the Amazon blacklisted
Brazil retail sales hit record high in March
Retail trade sales in Brazil rose 0.8% from February to March 2025, reaching their highest level since the series began in January 2000, according to IBGE's Monthly Survey of Trade. This marks the third consecutive monthly gain, pushing the quarterly moving average up 0.6%. Growth was broad-based, with six of eight sectors showing increases. Key contributors included pharmaceuticals and supermarkets. Books, newspapers, and stationery saw a 28.2% jump, driven by textbook sales delayed to March due to changes in the school calendar. Office and tech equipment rose 3.0%, following stock adjustments linked to currency fluctuations. Other gains came from household items (1.5%), pharmaceuticals (1.2%), apparel (1.2%), and supermarkets (0.4%). Meanwhile, furniture (-0.4%) and fuels (-2.1%) declined. Extended retail trade also grew 1.9%, led by vehicles (1.7%) and construction materials (0.6%).
Brazil industrial confidence rises to 48.9
Brazil’s Industrial Entrepreneur Confidence Index (ICEI) edged up to 48.9 in May 2025 from 48 in April, staying below the neutral 50 mark for the fifth straight month. Improved confidence came amid signs of recovery and a weaker dollar, despite high domestic interest rates. Business performance expectations rose to 51.3, while broader economic outlook improved to 42.5. Current business conditions also saw modest gains, with business confidence at 47.3 and economic sentiment at 37.3.
Brazil blacklists over 500 amazon farms in anti-deforestation crackdown
On May 6, Brazil’s Ministry of Environment blacklisted 545 rural properties in Pará for illegal deforestation, barring them from selling crops and livestock domestically and abroad. This marks one of the country’s largest satellite-driven crackdowns, replacing individual embargoes with mass penalties based on remote sensing data. Most affected lands are near Castelo dos Sonhos in Altamira—an area plagued by violence and rampant deforestation. Farmers have until June 6 to remove livestock or face fines. While appeals are allowed, many may miss deadlines for agricultural credit. The move has sparked fear and resistance among local producers.
BRICS de-dollarisation advances as Brazil eyes yuan bonds
Brazil is weighing two key financial measures: issuing its first sovereign bonds in Chinese yuan, known as “Panda Bonds,” and a Central Bank proposal to limit stablecoin transfers to non-Brazilian wallets, according to government sources. While the bond plan remains under review, its approval would mark a significant step in diversifying Brazil’s funding sources and deepening financial ties with China. The move aligns with broader efforts by BRICS nations to reduce reliance on the U.S. dollar. If issued, the Panda Bonds would be traded in China’s domestic market and settled in yuan, reinforcing Brazil’s growing role in the global shift toward multipolar finance.
Nigeria, Brazil to collaborate on homogeneous spirituality for tourism development
The National Institute for Cultural Orientation (NICO) will partner with the Brazilian Consulate to accredit Yoruba traditional practitioners, such as babalawos, Ifa priests, and traditional kings, before they are granted visas to Brazil. NICO’s executive secretary, Otunba Biodun Ajiboye, announced the initiative at a press conference on the World Orisha Congress (WOOCON) in Lagos. The move aims to curb unethical practices by individuals posing as traditional practitioners and to preserve the integrity of Yoruba Orisha traditions. NICO also plans to create a platform to support global traditional worshipers visiting Nigeria for cultural exploration. Brazilian Consul General Manuel Inocencio de Lacerda Santos Junior praised the effort to uphold Yoruba heritage in Brazil.
