Aguia Resources Limited (ASX:AGR) has provided an update to shareholders on the record breaking performance of the Brazilian agriculture sector in 2017.
After a period of recession in Brazil, the agriculture and agribusiness sectors have been the biggest contributor to economic recovery, now representing 23.5 per cent of GDP.
Jobs in agriculture and meat packing were also the highest in 5 years, and were the only segments of the economy to increase jobs.
The fertilizer developer has commented headwinds still remain for the fertilizer space however, with excess global capacity continuing to push key nutrient prices lower.
Shares in Aguia Resources Limited (ASX:AGR) last traded at $0.37.