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2008-11-18 | permalink
Tumbling soybean prices worry Brazilian farmers
Within a decade, settlers founded the town of Primavera do Leste and rode a soybean boom that’s turned Brazil into a leading breadbasket to the world. Primavera do Leste swelled to 60,000 residents and is expected to double in size within 10 years. However, soybean prices have cratered in the past three months. Credit has disappeared. Many farmers face selling their crop next year at a loss, and they wonder how they’ll pay off loans taken out during the 2007-08 bumper harvest. In a town that’s dependent on soybean’s fortunes, fear and worry have replaced optimism and hopefulness.
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News
2008-11-18 | permalink
Tumbling soybean prices worry Brazilian farmers
Within a decade, settlers founded the town of Primavera do Leste and rode a soybean boom that’s turned Brazil into a leading breadbasket to the world. Primavera do Leste swelled to 60,000 residents and is expected to double in size within 10 years. However, soybean prices have cratered in the past three months. Credit has disappeared. Many farmers face selling their crop next year at a loss, and they wonder how they’ll pay off loans taken out during the 2007-08 bumper harvest. In a town that’s dependent on soybean’s fortunes, fear and worry have replaced optimism and hopefulness.
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