Poor suffers to pay for milk; the rich, with the cost of tickets – 02/03/2023 – Shuttle

The level of food prices recorded in recent years still weighs heavily on the income of consumers with lower purchasing power.

Those earning up to three minimum wages suffered the greatest impact from long-life milk and lettuce prices in February.

Those who earn between three and eight salaries felt more the increases in property tax and cable TV.

Those who earn more than these amounts, in addition to property taxes and cable TV readjustments, also saw airline tickets weigh more heavily in their pockets.

Inflation is at high levels, but a good part of food prices are starting to fall, according to the February survey by Fipe (Foundation Institute of Economic Research).

Long-life milk, however, resumed its upward trend and was 3.9% more expensive in February; lettuce had an increase of 11% in the month, and cable TV rose 4.4%. Air tickets have accumulated a 60% increase in 12 months.

For the first time, all beef cuts sold at retail in São Paulo dropped in price. This drop is not caused by interruptions in sales to China, but by the loss of consumer income in view of the high values ​​reached by the protein.

Some cases elucidate the level to which beef has reached. The kilogram of chuck stopped rising and accumulates a reduction of 5.7% in the last 12 months. This drop, however, is still very small compared to the 94% increase from 2019 to 2022.

Among the noblest meats, sirloin cap accumulates a 10.2% decline in 12 months, but had an increase of 52% in the last four years.

The data are from Fipe, which monitors prices of 14 cuts of beef on a weekly basis in the retail market in the capital of São Paulo.

Reduction in the prices of meat —including chicken—, soy oil, coffee and sugar, items that have had astronomical increases in recent years, help to slow down the rate of food inflation.

Soybean oil has already accumulated a 4% drop this year, but a very low rate compared to the 164% accumulated in the last four years. Sugar rose 92% in the period; and coffee, 89%. This year, these last two products have stable prices.

In the list of the ten main price drops in the inflation index pointed out by Fipe in February, nine are in the food sector.

The relief for the consumer, however, has limits. Some items stop going up, but others come in their place. In addition to milk, rice, beans, vegetables and fruits were also on the high list in February, according to Fipe.

Heringer A group of minority shareholders of Fertilizantes Heringer, which represents 10% of the company’s share capital and one-third of the outstanding shares, claims that they are not in agreement with the company’s management.

Heringer 2 For them, Eurochem, which bought control of the company, has been conducting management in a conflicting manner, aiming to depreciate the company.

Capacity Heringer has a production capacity of 5 million tons per year of fertilizers, but has been operating with only 30% of that potential, according to minority shareholders.

costs A representative of this group claims that the cost of the product sold by the company is higher than that of other competitors in the market. As a result, the company is unable to be profitable, affecting equity and possible dividend distributions.

Other side In a communiqué to the column, Fertilizantes Heringer states that the minority shareholders indicated and approved, in a meeting, the second specialized institution responsible for the last valuation report of its shares.

other side 2 The process is being conducted in a transparent manner, in accordance with the Brazilian Corporation Law and CVM (Securities and Exchange Commission) rules. The company also pointed out that all information on this topic is disclosed in notices and material facts to shareholders and the market, in addition to being submitted, when applicable, to CVM and B3.

Dispute By buying Heringer, Eurochem intends to close the company’s capital, but the minority shareholders do not accept the value offered for their shares. Representative of the minorities affirms that they are not against the delisting of the capital, but that the company pays the fair price.

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