Commodity radar: They've got an awful lot of coffee (shortage) in Brazil...
What’s up old bean?
Bad news in Brazil, where some 7,000 employees at car factories have downed tools in protest at job lay-offs. Production is said to have been brought to a standstill during protests at Volkswagen and Mercedes-Benz. The former company is where the trouble began – 800 lay-offs triggered an indefinite strike at the plant outside Sao Paulo on January 6. Car sales in the country fell 7% last year as a weak economy and rising prices hit consumers. Car exports, meanwhile, slumped 30% in 2014, year-on-year – with Mexico picking up the slack in the region, overtaking Brazil to become Latin America’s largest automotive manufacturer last year.
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