AGP Executive Report

Hydropower Expansion in Brazil: Âmbar Energia will invest R$60m to expand and modernize the Salto do Passo Velho small hydropower plant in Santa Catarina, boosting capacity from 1.8MW to 11.75MW, with work due to finish in Dec 2030. BRICS Trade & Payments: The 18th BRICS summit in New Delhi ended with a push for settling cross-border deals in members’ own currencies and smoother payment mechanisms, while India’s push for payment-system/CBDC interoperability was notably left out of the final declaration. “Greater BRICS” Tech Push: Xi Jinping outlined initiatives spanning AI, smart manufacturing, digital industry and supply-chain stability, including a BRICS AI open-source zone. Amazon Electrification for Food Processing: A battery microgrid in Brazil’s Amazonas will replace unreliable diesel power for an açaí processing facility, targeting up to 36,000 liters/year and new local income. Deal Watch (Mining & Ag Inputs): Solar Industries agreed to acquire South Africa’s Omnia Holdings for about R21.8bn, aiming to expand across southern Africa’s mining and agriculture markets. Brazil Industry Outreach: Brazilian machinery firms will seek Latin American buyers at FIB 2026 via ABIMAQ/ApexBrasil business meetings (Sep 28–Oct 2). AI in Healthcare Education: Geneva College of Longevity Science launched Perceptors AI, an agentic learning platform for mass clinical certification across 100+ institutions, including expansion plans for Brazil. Local Disruption: São Paulo’s building collapse after intense rains raised deaths to six, with the site now shifting to forensic and safety authorities.

BRICS Summit Outcomes: India’s 18th BRICS summit in New Delhi ended with a 140-point New Delhi Declaration, pushing cross-border payments, national-currency trade, supply-chain resilience, and AI governance—while Modi warned against the weaponisation of technology and critical minerals. Open-Source AI Push: Xi announced a BRICS AI Open Source Zone and a plan for a BRICS service-trade forum next year, aiming to turn the bloc into a practical platform for Global South development. Brazil Politics Meets Industry Risk: Brazil’s Supreme Court unsealed an investigation tied to the financing of a Bolsonaro biopic, potentially adding uncertainty ahead of October elections. Food & Livestock Pressure: USDA forecasts a steep drop in US egg receipts in 2026, while cattle futures show a corrective pullback as cash trade remains thin. Mining & Energy Supply Chains: China’s green mining tech drew attention as BRICS leaders highlighted critical minerals; separately, potash mine drilling in Canada moves toward production—an example of how new capacity is being mapped. Agriculture for Drylands: Dryland Congress 2026 adopted a Delhi Declaration calling for South-South cooperation to boost dryland farming and food security.

BRICS Summit Watch: At the 18th BRICS summit in New Delhi, PM Narendra Modi pushed “Greater BRICS” practical cooperation, warning that “weaponising” technology and critical minerals could slow development, while leaders adopted the New Delhi Declaration on resilience, innovation, trade and sustainability. Nuclear & Security: BRICS voiced concern over deliberate attacks on civilian infrastructure and peaceful nuclear facilities under IAEA safeguards, and flagged rising nuclear danger and conflict risks. Trade & Payments: India’s BRICS sherpa Sudhakar Dalela said there’s no plan for a BRICS common currency, but local-currency settlement and cross-border payment mechanisms are being explored to cut transaction costs. Energy & Logistics: Modi and partners stressed secure sea lanes and supply chains amid Middle East disruptions, with Egypt’s Sisi calling for stronger ports, corridors and logistics links. Food & Agriculture: FAO reported global food prices rose in August, citing climate shocks and disrupted trade logistics. Brazil-Linked Industry Angle: With Brazil in BRICS and major agribusiness exposure, the summit’s focus on supply-chain resilience and agro-ecology lands directly on Brazil’s export competitiveness. Global Supply Chain Risk: Reuters also flagged a Mexico crypto-mining farm allegedly used for cartel money laundering—another reminder of how tech and infrastructure can be abused.

BRICS Summit (New Delhi) — Leaders unanimously adopted the New Delhi Declaration 2026, pushing for maximum restraint in West Asia, condemning attacks on civilian infrastructure and peaceful nuclear facilities, and calling for peaceful dispute resolution plus deeper cross-border trade and energy flow. Food & Agribusiness — BRICS backed work on a common grain exchange to cut price swings and improve food security, while the bloc also flagged fertilizer shortages as a key risk. AI & Digital Industry — The declaration calls for wider access to AI resources and stronger cooperation to keep tech safe, secure, inclusive, and reliable. Brazil Trade Angle — Egypt reported $6.6B in exports to BRICS in the first half of 2026, with Brazil among key importers—useful context for Brazilian exporters watching BRICS demand. Energy/Shipping Risk — Multiple BRICS statements tied regional tensions to sea-lane safety and supply-chain stability, a direct concern for Brazil’s logistics and industrial inputs.

BRICS Summit in New Delhi: India opened the 18th BRICS Leaders’ Summit as wars in West Asia and Ukraine, energy stress, and trade friction set the tone, with Xi Jinping arriving for talks with Modi and a focus on resilience, innovation, and multilateralism. Energy & shipping pressure: Iran’s Pezeshkian floated reopening the Strait of Hormuz only if US pressure on Iranian ports ends, while leaders also stressed freedom of navigation and seafarer safety. Local-currency push (but no de-dollarisation pledge): BRICS finance officials kept language cautious, emphasizing interoperable payments and local-currency settlement without calling for a single BRICS currency. India-UAE industrial ties: Modi met Abu Dhabi’s crown prince on trade corridors and investment, including a reported $11.5bn Odisha greenfield aluminium project—highlighting logistics and manufacturing cooperation. Brazil election shock: In Brasília, Flavio Bolsonaro faced a corruption and money-laundering probe tied to alleged financing of a film about his father, weeks before Brazil’s October vote.

BRICS Summit Watch: Leaders are arriving in New Delhi for the 18th BRICS Summit, with India trying to keep the bloc relevant amid Iran-US tensions, the Ukraine war, and rivalry between China and India. Payments & Trade Rails: India’s Piyush Goyal pushed BRICS to link payment systems (including UPI-style interoperability), expand local-currency trade, and cut red tape for faster customs clearance. Energy & Shipping Pressure: Iran’s Pezeshkian warned against any country obstructing legitimate trade and called for stronger BRICS cooperation as economic pressure intensifies. Brazil Macro: Brazil’s inflation cooled to 4.22% year-on-year in August, with prices down 0.32% month-on-month—fueling expectations of another rate cut. Brazil Politics Meets Finance: Brazil’s judiciary opened/expanded probes into presidential candidate Flávio Bolsonaro over alleged money laundering and other crimes tied to financing the “Dark Horse” film. Pharma Industrial Policy: Biocon secured a 10-year pertuzumab biosimilar supply contract for Brazil’s public system under the PDP program, aiming to localize production over time. Global LNG Shift: QatarEnergy is negotiating long-term LNG supply with US exporters as Middle East disruptions reshape gas markets.

BRICS Summit Watch: Putin arrived in New Delhi as Xi and Iran’s Pezeshkian also confirmed for the 12–13 Sept leaders’ meeting, with India pushing its 2026 theme of resilience, innovation, cooperation and sustainability amid Ukraine and West Asia tensions. Business & Trade: At the BRICS Business Forum, India’s Jaishankar and Commerce Minister Piyush Goyal urged market opening, smoother rules, and faster clearance to turn cooperation into real deals. Finance Talks: India’s Sitharaman met Russia’s Manturov to advance negotiations on a Bilateral Investment Treaty and deepen financial services links. Brazil-EU Pressure: Brazil’s EU ambassador warned the EU’s ban on Brazilian meat could derail the EU-Mercosur deal and hit exporters. Agri & Commodities: Soybeans dipped in Chicago after China’s pre-summit buying, while Brazil’s soy exports were projected to stay strong. Industrial Supply Chains: Lightera is expanding optical fibre manufacturing for AI data-centre demand, including Brazil-linked capacity.

Fuel Prices & Tax Policy: Brazil’s Lula signed measures to cut fuel taxes and subsidize ethanol, gasoline and blends for 30 days as Brent topped $100 amid Middle East supply risks. Amazon Fund Uncertainty: Amazon Fund grantees warn a post-election funding freeze could reverse progress after deforestation hit a decade low. BRICS Diplomacy & Trade: Lula will skip the New Delhi BRICS summit, sending Foreign Minister Mauro Vieira, while the agenda spotlights food, energy and supply-chain resilience as Xi and Putin arrive. Payments & Pix Lessons: UK payments leaders back a National Payments Vision but only 29% feel confident; they cite Pix as a key takeaway for governance and delivery. Rare Earths & Permitting: A judge suspended Sigma Lithium’s environmental licenses over consultation disputes with quilombola communities, while USA Rare Earth advanced its Serra Verde acquisition for rare-earth oxide ramp-up. Labor & Supply Chains: Brazil rescued 479 people from labor analogous to slavery in August, with coffee and construction among the hardest-hit sectors. Aviation Retail Expansion: Avolta won two 11-year food & beverage contracts at Brasília airport, adding a Johnnie Walker hybrid concept. Industrial Investment: Vallourec broke ground in Espírito Santo on a new production line for subsea thermal insulation coating tech, boosting offshore capability.

BRICS Summit in New Delhi: Leaders from Brazil, Russia, India, China, South Africa and the expanded bloc (including Iran, UAE, Saudi Arabia, Egypt, Ethiopia and Indonesia) will meet Sept. 12-13, with India pushing a “resilience, innovation, cooperation and sustainability” agenda amid geopolitical strain. Energy & trade pressure: The Iran conflict and US sanctions campaign are set to test BRICS unity, while India’s BRICS trade deficit has ballooned to $226.1bn as imports surge faster than exports. Aerospace supply chains: Embraer is looking to deepen manufacturing in India via more local sourcing and integration into its global aerospace supply chain. Industrial decarbonisation at sea: Asyad Shipping and Vale marked a milestone with the first wind-assisted Valemax call in Oman using rotor sails to cut fuel use. Materials & mining finance: Alcoa announced a $2.6bn notes offering to fund its South32 bauxite/alumina/aluminium asset acquisition, including operations in Brazil. Plastics circularity: The Alliance to End Plastic Waste reported cutting 138,162 tonnes of unmanaged plastic waste in 2025 and mobilizing $641m in funding. Fuel policy: Brazil increased diesel subsidies and cut taxes on gasoline and ethanol as Brent stays near $100. AI in media: Brazilian journalists are split over newsroom use of generative AI and what “authorship” should mean. Tech investment: IVEX raised €5m to scale AI-powered automotive safety testing, aiming for North America and Asia.

Logistics & Industry Investment: FedEx is investing R$75m in Brazil to expand international capacity and supply-chain operations, adding 34 sites and upgrading logistics centers in Cajamar (SP) and Jaboatão dos Guararapes (PE), after exiting domestic delivery. Agribusiness & Costs: McKinsey’s Global Farmer Insights finds Brazilian farmers (along with others) are cutting or delaying spending as margins tighten, with fertilizer and equipment the first areas targeted. Food Exports & Trade Friction: Brazil’s chicken and pork export momentum is in focus amid EU pressure, including suspensions and talks tied to animal-product rules. Energy & Critical Minerals: Brazil’s rare-earth push continues as the Senate advances a rare-earths bill and new projects move forward, while global demand for critical minerals keeps reshaping industrial strategy. Policy Watch: Lula’s government is reportedly preparing new betting restrictions, with discussion of potentially ending sports betting—an unusual move with knock-on effects for regulated services. BRICS & Global Trade: Ahead of the New Delhi summit (Sep. 12-13), coverage highlights BRICS’ agenda around resilience, energy security, and institutional reforms, with Brazil watching how bloc dynamics could affect trade and investment.

BRICS Summit Watch: South Africa’s President Cyril Ramaphosa will attend the 18th BRICS Summit in New Delhi on Sept. 12-13, with leaders pushing a people-centred agenda on trade, investment, financial cooperation and UN/international finance reform. Food & Agri Industry: A new look at LATAM food manufacturing highlights how Grupo Bimbo and Nestlé are expanding locally while General Mills pulls back, as climate stress, weak infrastructure and security risks reshape supply chains. Rare Earths & Mining: Aclara signed a JV with Japan’s JOGMEC to explore heavy rare earths in Brazil, with Japan funding up to $3m over three years and options to expand. Brazil Food Politics: Lula’s “picanha for all” promise is back in the spotlight as beef prices keep climbing ahead of the election. Construction & Security Hardware: At FEICON BATIMAT and EXPOSEC, smart access control and certified smart locks remain a key theme for Brazil’s building and security market, with emphasis on INMETRO/ANATEL compliance and durability in local conditions. Cyber Risk for SMBs: Kaspersky reports most SMBs faced cyber incidents in the past year, with phishing and ransomware among the most damaging threats.

Beef Trade Shock: Brazil’s beef exports slid 27.1% in August as China hit its import quota, cutting both volume and value even as year-to-date sales to Asia still look positive. Food Prices & Politics: A new wave of “steak for all” backlash is building around Lula as picanha prices keep climbing, turning a campaign promise into a political headache. Trade & Macroeconomy: Brazil posted a USD 7.4 billion trade surplus in August, with exports up nearly 12.2%, and total trade hitting a record for the month. Energy Storage Push: BYD plans a BRL 500 million investment to build BESS production infrastructure in Brazil, aiming to localize the supply chain and create 300–400 direct jobs. Natural Gas Competition: Brazil’s regulator is weighing “gas release” auctions to reduce concentration, setting up a fresh fight between Petrobras and the Ministry of Mines and Energy. Agribusiness Innovation: Incotec reopened updated seed labs in Holambra, expanding testing and co-development for seed enhancement. Industrial Risk Watch: CrowdStrike flagged a Brazil-based cyber threat actor (“Slim Spider”) targeting Pix and digital-asset custody at financial institutions. Environment & Health: New analysis maps mercury contamination across Amazon rivers, linking fish consumption to serious health risks for Indigenous communities in Brazil, Peru, and Bolivia.

Supply Chain Tech for Fashion Exports: Cardano and Blockforce launched a dual-ledger system (Hyperledger Fabric + Cardano proofs) that has already anchored 500,000 Brazilian exporter records, with Azzas 2154 tracing leather across 6,200 suppliers and processing 95,000 invoices to help meet EU deforestation rules. Critical Minerals Push: Brazilian Rare Earths commissioned its Stage 1 pilot plant in Camaçari, producing first rare earth concentrate, while Stage 2 hydrometallurgy is set for 2Q 2027 with partners including SENAI CIMATEC. Lithium Legal Tension: Sigma Lithium says it hasn’t received due-process legal communication after a reported ruling suspending environmental licenses for its Grota do Cirilo mine, insisting operations continue and legal defense will start as courts resume. Healthcare Manufacturing: Biocon secured a 10-year Pertuzumab supply contract in Brazil under the PDP program with Bahiafarma and Bionovis, aiming for phased localization and access for SUS demand (~70%). Shipping & Trade Links: HMM signed a 25-year, 4.7 trillion won shipping deal with Vale using eight 210,000-ton Newcastlemax bulk carriers starting in 2030, reinforcing long-term Brazil iron ore logistics. Energy Transition Watch: China paused approvals for battery storage factories not yet under construction, echoing its earlier solar playbook and raising uncertainty for global storage buildouts.

Rare Earths & Mining: Viridis/Rainbow Rare Earths progress on Brazil’s Uberaba rare-earth push with a Preliminary Feasibility Study for on-site processing of phosphogypsum waste, aiming to produce separated neodymium/praseodymium oxides and other rare-earth outputs. Critical Minerals Policy: Brazil’s Senate moves to tighten the rare-earth legal framework to rival China, while Sigma Lithium’s Brazilian court setback halts its lithium mine by suspending environmental permits. EVs & Manufacturing: BYD’s Brazil momentum stays strong, with Jan–Jul 2026 exports topping 198,507 units (BEV + PHEV), reinforcing local production as it targets ~2m overseas sales in 2026 and 2.5m in 2027. Agri & Trade: The EU ban on Brazilian beef and poultry over antibiotic and welfare assurances hits exporters, with Brazil signaling possible reciprocal measures as the dispute drags on. Logistics & Shipping: London talks raise hopes for a green shipping deal, while tanker markets stay bullish with record rates in the Americas. Industrial Tech: Garmin’s ANATEL filings in Brazil suggest a smart ring launch in multiple sizes, adding pressure to the wearable ring race. Energy & Industry: Ventura Offshore expands its managed rig fleet and lands a Petronas drilling assignment off Indonesia, underlining Brazil-linked services in offshore energy. Food Security: China’s feed-grain demand may rise in 2026/27 after hot weather and floods threaten corn quality, with imports likely shifting toward corn substitutes.

Rare Earths Push: Rainbow Rare Earths started a pre-feasibility study for its Uberaba project in Minas Gerais with Mosaic, aiming to define an on-site processing plant to treat about 2.7m tonnes of phosphogypsum waste annually, with study work tied to a maiden JORC resource estimate and completion expected in 2H 2027. Critical Minerals Policy: Brazil’s rare earth push also shows up in the wider policy backdrop as the country tightens control over mining and advances rules meant to boost exploration and processing capacity. Grid Storage Race: Brazil’s battery auction design is already reshaping manufacturing plans, with major players moving to localize BESS production in Brazil—an approach India is watching as it drafts its own tenders. Payments & Fintech: Ant International secured a Payment Institution licence from Brazil’s central bank, expanding Antom’s ability to offer PIX and cross-border payment and account services to merchants and SMEs. Food Prices Pressure: FAO reported global food prices rose 1.9% in August to the highest since 2022, driven by weather, Black Sea logistics disruptions and Middle East tensions—key for Brazil’s agribusiness planning. Environmental Watch: Scientists flagged long-term groundwater drops under Brazil’s eucalyptus plantations, adding fuel to sustainability debates around industrial forestry.

Mining & Courts: A Brazilian judge ordered Sigma Lithium to suspend environmental licenses and mining at the Grota do Cirilo mine in Minas Gerais, citing risks to a nearby quilombola community and the need for free, prior and informed consultation. Oil & Offshore Services: Oil States Brasil won a three-year Petrobras subsea deal for maintenance, inspection, integrity analysis and intervention support across offshore assets, including valves and torque-tool work. Energy Services in Brazil: Baker Hughes secured a vessel-based stimulation contract for BP in the UK North Sea, with the firm highlighting its broader Petrobras subsea and stimulation footprint in Brazil. Lithium Markets: Sigma Lithium began trading on Australia’s ASX under ticker SAU, expanding access to battery-materials investors even as the Brazilian court case raises uncertainty. Food & Commodities: The UN FAO reported global food prices rose to the highest level since late 2022 in August, with sugar jumping 11.9%—a reminder of how weather and trade disruptions can hit Brazil-linked supply chains fast. Agribusiness & Trade: Brazil’s EU meat ban and related trade friction continue to ripple through exporters and processors. Sustainability & Water: WWF-Brazil warns the Pantanal is drying as flooded savanna shrinks, with climate impacts spreading across neighboring biomes.