Industry Today Volume 22 Issue 1

market has experienced falling prices of both rice and beans, a situation that has had an impact on its bottom line. “Although this year we’re going to see a double-digit increase in terms of market share, our financial results won’t reflect this growth,” admits Moreto. “Revenues depend much more on distribution and market factors than on the industry itself.” Despite such setbacks, growth in revenues has been positive. Between 2017 and 2018, Broto Legal’s revenues increased from R$500 million to R$700 million (roughly US$132 million to US$185 million). Looking ahead, if all goes according to its many new plans, the compa- ny predicts that by 2023 earnings will hover around R$2billion. Indeed, despite low grain prices, an unfavorable exchange rate based on the high value of the U.S. dollar, and the con- stant unpredictability of climactic conditions that can affect harvests, Moreto is optimistic about the future. “One thing we can be sure of is that Brazilians are always going to consume our products. Even if the cooking methods, forms of packaging and recipes change, Brazilians are never, ever going to stop eating rice and beans.” INDUSTRY TODAY 127 BROTO LEGAL ALIMENTOS | PROFILE

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