Itau BBA eyes 10% Brazil agri growth as Iran war lifts costs, biofuel demand
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Itau BBA anticipates a 10% growth in Brazil's agribusiness portfolio by 2026, driven by rising fuel and fertilizer costs due to the Iran war, which is also increasing biofuel demand. The portfolio is expected to grow from 135 billion reais ($26.92 billion) despite tighter margins affecting grain producers. Higher oil prices may boost ethanol consumption, and strong performance is expected in cattle ranching, coffee, and cotton sectors. Loan payment delinquency is projected to remain stable or decline in the upcoming months.
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