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People & Business :: People/Executives
Strong Currency Challenges Brazilian Chemical Producers
12:24 PM MST | November 11, 2011 | Kara Sissell in Buenos Aires
The rise in value of the Brazilian real is hurting competitiveness, including the Brazilian chemical sector which has the nation’s largest commodity deficit, an estimated $25 billion in 2011, Pedro Wongtschowski, president and CEO of Ultrapar (São Paulo), tells CW. Huge inflows of foreign investment in recent years, as well as high revenues associated to mineral and agricultural commodities, has brought large amounts of dollars into Brazil and has caused the Brazilian real to increase in value against other currencies. “People say this only...
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