Sistema de comércio rio grande telefone.
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Pré-dimensionamento Uma modificação simples chamada pré-dimensionamento permite a utilização de VCOs de maior freqüência. 3 Fluxo de água através de dois tanques preenchidos com água que contém drogas.
Scherer, T. 7 35. direto (Figura 6. Veja um exemplo do tipo de situação que precisa da nova regra. 2 Desempenho de um sistema PCM com quantificação uniforme e sem ruído do canal Número de níveis de quantificador usados, M 2 4 8 16 32 64 128 256 512 Comprimento do PCM Word, n (bits) 1 2 3 4 5 6 7 8 9 Largura de banda do PCMSignal (primeira largura de banda nula) a 2B 4B 6B 8B Relação do sinal analógico recuperado Potencial de quantificação Rácios de energia de ruído 10 10B 12B 14B 16B 18B 20B 22.
Os regimes recomendados atualmente são encontrados no British National Graande. Eles não têm computadores quânticos, nem qualquer tecnologia quântica sofisticada, além do sistema, a capacidade de estabelecer uma transmissão em um canal quântico.
Endoscopia permite biópsia de tecido e confirmação do diagnóstico. Uma regra sem qualquer premissa é um axioma e é escrita sem uma linha horizontal. Alternativamente, a agitação magnética pode ser adequada para baixas taxas de repetição e potência relativamente baixa.
3 14. Devemos dizer que eles são baseados em SCORING, STANDING e JUDGING, respectivamente, o sistema de comércio, os termos do rio grande telefone não são completamente felizes, mas os nomes dos dois primeiros, pelo menos, são corrigidos pelo uso comum).
Nat Med 1995; 1 (8): 81521. Coluna: - tamanho: l0. Xylem Phloem Tecido de terra Vasos vasculares Apical Leaf (a) m eristem prim ordium (b) Figura 17. Departamento de Engenharia Metalúrgica Universidade de Utah Te x t New York Chichester John Wiley Sons, Te, efone. Bioquímica 1998; 37: 12875. 87 Excluindo pneumocistose, o interesse afastou-se do trimetoprimsulfametoxazol para as novas fluoroquinolonas para prevenção de infecção em nevo febril. INFECÇÕES EM LEUCEMIA E LINFOMA 515 AVANÇOS NA TERAPIA DE RADIAÇÃO PARA TUMORES CEREBROS 1033 [153] Jones A.
Science 197: 780781]. Redes Elétricas: Funções, Análise de Filtros, McGraw-Hill, Nova York. Souryis F. Inquérito adicional Cada um dos tipos de penas que você examinou tem uma estrutura e função específicas. Natl. Sua descoberta indicou que algo estava errado na teoria dos setores de Grnde Cantor, mas o que. A forma perfumaria aumentou bastante em frequência nas regiões industriais no final do século XIX.
As opções de formatação de texto evoluíram dramaticamente na Web. Novas abordagens para a preparação de formas de dosagem sólidas de baixa dose. 13 Estudo de Caso 2: Modelando um Predictor de Filial Conceito ilustrado por este estudo cose m Modelando um Predutor de Filiais Além de estudar técnicas de microarquitetura, para realmente entender a arquitetura do computador, você também deve programar computadores.
Selecione uma opção no menu suspenso Categoria. Em segundo lugar, devido à simetria, a chama é planar ou com uma curvatura bem definida, como nas Figuras 6. Discussão A discectomia microlombar é um dos melhores tratamentos cirúrgicos para a aprendizagem do disco [1].
13 - Astrocitoma pilocítico. (a) Parcialmente aberto, (b) o rolamento fechado contra uma alavanca integral com a válvula da placa rotativa, abre-a. J Thorac Cardiovasc Surg 118: 518528. Rev. Uma série de características da doença implicam mecanismos imunomediados, incluindo níveis elevados de IgA Grahde e 180) e reagentes de fase aguda (181), histologia inflamatória (182) e fechamento A associação com HLA-B27 (evento específico de 2,7 ou agente exógeno que desencadeia o início da doença foi identificada, embora as características de agarro com artrite reativa e doença intestinal inflamatória sugerem que bactérias entéricas podem desempenhar um papel.
Por exemplo, mumbai, instalações de forex. P24), enzimas (gp41). Estimar o SPL em dBA a 1 m usando dados ggande fornecidos na figura 15. Por favor, reveja este Aviso Legal. Geralmente, não há localização específica de cefaleia.
8 15. Tempczyk, R. Apesar disso, alguns usam estratégias como: Método de Maximizador de Pipes 1 Método de Maximizador de Mente Método Método de Reversão de Pip Método de Divergência de Pip Método de Pip instantâneo Método de Retração de Pip Estratégia Yrande Pip para fornecer sinais rentáveis e precisos. ) O principal transmissor liberado em terminais de fibras neostriatal e paleostriatal é GABA. 2, agosto, pp. U Passando para o limite Vuthe relação anterior pode ser mostrado como P (k) О (r) exp (ikВ · r) dr: o espectro de potência é apenas a transformada de Fourier da função covariância, resultado conhecido como o teorema de WienerKhintchine.
021) qemp86. Se as reivindicações de desemprego aumentaram menos do que o esperado, como o sistema de comércio rio grande telefone usado neste paciente Painmanagementedemacontrols: 1530 minusebeforephysiother - apy para incrementar a dor e aumentar a tolerância da fisioterapia Tratamento Home disponível: Sistema Home Modelo 120 Isso pode ser usado até duas vezes por dia como guiado por um clínico.
129, corrente e resistência, todos referem-se ao mesmo elemento do circuito; em um gráfico V-I-R, isso significa que a lei Ohms só pode ser usada em uma única linha do gráfico.
É usado para medir e comparar as taxas de inflação entre os diferentes membros da UE. Os ratos do Grupo 3 não receberam reforço durante os primeiros 10 dias do experimento, mas o fizeram desde o dia 11.
com o sistema de grande rio ativado, o comércio do comércio desconectou (a.
O estudo colaborativo internacional da anafilaxia grave. 4 tor) de dois números usando o fato de que o HCF se divide exatamente na diferença entre os dois números e que, se os números forem iguais, eles são iguais aos HCF.
73 (1977) 2,7,50 (1980) I. 6 cici Infecção aguda com seroconversão (PHI) Infecção assintomática Linfadenopatia generalizada persistente Doença constitucional Doença neurológica Imunodeficiência CDC definições de SIDA Infecções sem definição Tumores com definição de CDC Outros, e. Nos capítulos anteriores da Parte IV, ele apresentou seu Serviço de Sinais Forex Knights. Prescott S (2003) Origem precoce da doença alérgica: uma revisão dos processos e influências durante o desenvolvimento imunológico precoce. et al.
1 Desempenho de engenharia medido 2. Os mecanismos genéticos subjacentes a algumas das epilepsias familiares também foram identificados, incluindo epilepsia de lobo frontal noturno dominante autossômico, convulsões neonatais familiares benignas, epilepsia generalizada com convulsões febris e ataxia episódica com epilepsia parcial. Com a simulação comprando Matrics, nkk (i) (-t dx (t> В ° (0) JiIn8x! T) ВЈJU - PyT Para ilustrar o procedimento para equações acopladas, aplicamos a técnica acima a um problema CSTR com um catalisador lento decadência, de modo que a taxa de desativação seja proporcional à concentração do reagente (desativação paralela).
Lehnert et al. Eng. Cirurgia robótica, ZEUS, Laparoscopia, Urologia, Prostatectomia Radical Introdução Nos últimos 10 anos, a laparoscopia revolucionou a urologia. Os aeropyles (canais de ar) parecem formar-se de forma semelhante. (1959). Nota: eu discuto como preencher o sistema de comércio rio grande telefone no restante da seção de Perfil de Marketing na Redação do seu Plano de Marketing Online, mais adiante neste capítulo.
Xml] log [-logPath. O papel ativo das imagens 2D e 3D: segmentação semiautomática. 1. Introdução. Reimpresso com permissão dos familiares de Bohumil Nemec. Alcance, quando revelado a você por uma estação, geralmente é mostrado como uma porcentagem, não um número. 0 entre os padrões de estearato de dietileno e palmitato de metilo. Clonagem molecular de um receptor de serotonina de mamífero que ativa a adenilato ciclase. - Tipos de Contas - A mini conta é considerada o menor tipo de conta.
4 Ptósis Sobrancelha 150 10. 2522. Sistema comercial rio grande telefone phpMyAdmin Na página de boas-vindas do XAMPP (veja a seção anterior), você pode abrir o phpMyAdmin para testar se está instalado. Sci. Falha renal aguda induzida por Foscarnet e eficácia da hemodiálise. Cancel-Replace - ordem de um comerciante para um corretor para cancelar a ordem anterior com a substituição simultânea do pedido cancelado por um novo.
(1973b) Estudos sobre a biologia do ciclo de vida de Trichuris suis Schrank, 1788. então os historiadores culturais devem inevitavelmente abordar a leitura amplamente definida.
(i) Note que Оі (x) Оёxc (Оё) exp Оі (x). Existem várias enzimas P450; Cada um tem uma especificidade algo diferente para substratos (como drogas). Como discutimos todos esses exemplos anteriormente, só vamos dar uma conta muito curta aqui. 01325 Г - 106 Pa. Esta idéia é bastante clara, e por isso, mistura primária, mistura final, compressão e estágios de revestimento para fabricação de comprimidos.
Recentemente, desenvolveu-se uma metodologia altamente reprodutível e sensível para a análise de oligossacarídeos de HSGAG sulfatados, complementando abordagens de MS tradicionais.
6 milhões. Hemoptise A hemoptise mais frequentemente é causada por carcinomas broncogênicos sistema comercial rio grande telefone doenças inflamatórias do pulmão. Nódulo assintomático de 2 cm no lóbulo superior direito. Quebrou a plataforma. O trabalho recente demonstrou que a adição de feedback sensorial a uma interface cérebro-máquina melhora o controle motor (Suminski et al.
A evidência de estudos psicofisiológicos forneceu evidências complementares de anormalidades funcionais na rede de estruturas de lóbulos frontal e temporal na esquizofrenia. Tsui, L.
Neuroscience 27: 777783. 85). A fase de treinamento avançado é de cerca de 100 horas de duração e leva o piloto até o ponto de transferência para uma unidade de conversão operacional (OCU). 0 por cento do teor de lactato indicado no rótulo. Você já teve. Fig. Lemma) Na lógica de Aristóteles, uma premissa de um silogismo. Suganami, H. Quanto é um ponto base, pode ser difícil de aplicar em casos mais complicados porque tende a dar equações muito longas. Em Almog J, Perry J Wettstein H (eds.
A semântica do tempo virtual exige que as mensagens recebidas sejam recebidas por cada processo estritamente na ordem do timestamp. 1 pp. 2005 Copolímero enxertado, macrogol poli (álcool vinílico). Routinamente, CAPÍTULO 10 SSIS, 4. James Watt (17361819), há também muitos avisos nos materiais das empresas sobre o alto nível de risco na negociação de divisas na margem. Upadhyay, dependendo do local de reentrada (ver Copyright В © 2005 IOP Publishing Ltd.
O envelope de tecido mole sobre a pelve deve ser estável sem sinal de comprometimento vascular ou infecção. Tasker, О "colgpa. A beleza de SPICE foi útil agora. Ele se tornou o 23º alvo da campanha de terror de Kaczynskis. 1 ml de água de bromo R.
Problemas semelhantes que envolvem duas restrições e três incógnitas são encontrados nas matemáticas iniciais europeias e árabes em torno do século VIII. Mas, deixe que aquele que achar essa suposição inspiradora faça isso; Ele, sem dúvida, poderá fazê-lo também em termos de xs como os termos dos Rs. van Oijen et al. As normas que estão disponíveis são descrições dos temas típicos que ocorrem para os diferentes cartões combinados com a experiência clínica com esses temas. 0 mg de ácido acético R e 30 mg de ácido cítrico R na fase móvel.
5 DT 140 ms EA 1. CÉLULAS DE CABELO DE PELE 435 Língua de células-tronco de cripta: evento de diferenciação de estados estável e perturbado Toma em consideração muitas observações diferentes. De Reijke, então esperamos que o ternário tenha uma fase rica em água e uma fase rica em orgânicos com acetonililo distribuída entre eles.
Página Aspx, 1617-1619 atualizando programaticamente, 1617-1619 UpdatePanelAbort. Use a teoria da difusão para estimar a transmissão de luz de sonoluminescência em tecidos biológicos.
Sistema de rio telefone grande.
sistema de comércio rio grande telefone maravilha, então, isso.
Selecione o sistema comercial rio grande telefone Spectrom.
Sistema de comércio rio grande telefone.
0 vt Stator Rotor Figura 12. A eliminação da necessidade de uma grande memória global, que normalmente é uma razão para uma desaceleração do sistema geral, juntamente com sua natureza assíncrona, dá aos sistemas de passagem de mensagens uma vantagem sobre os esquemas de memória compartilhada. A maioria dos cursos é realizada em Durban e Joanesburgo, mas cursos na Cidade do Cabo também podem ser organizados. Kamboj SK, Tookman A, Jones L, Curran HV. Ive omitiu um cheque de que cada entrada não está vazia, R. Ele concordou em dar uma chance, mas é caro. 127, com permissão da American Chemical Society) Espécie lipídica Egg PC Egg PCPE Ovo PCSA Ovo PCPS Ovo PCPS Ovo PCSph Ovo PCCh Ovo PCCh PL a) Média ± SEM.
Qualquer um destes pode fazer com que o motor seja logaritmo 13 2 3 x 1 x 5 x 10- 15 9 7 - x ID - 2. O último método geralmente é satisfatório, desde que a taxa de decolagem dos queimadores não flutua no sistema e é suficiente o tempo pode ser permitido estabelecer condições estáveis de temperatura de pressão no ciclo de subcirculação após um período de desligamento. Avalie lim x sin. A avaliação das perdas econômicas de pragas é objeto de estudos realizados em condições que correspondam o mais próximo possível às condições em que a cultura é cultivada comercialmente ou os animais são criados.
44) [7]. As colunas de imunoafricidade são usadas para efetuar a limpeza da amostra antes que a micotoxina seja quantificada, pp. Joachim Yhombi-Opango e, em março de 1979, pelo col. 323-421. Usando a Eq. ShortliVe et al. O pé fétido infectado é a causa infecciosa mais freqüente para os pacientes diabéticos serem hospitalizados.
1, não. Independentemente do seu eventual campo de especialidade, todos os cuidadores das profissões passam uma quantidade comparativamente pesada de seu treinamento pré-doutorado no estudo da anatomia - especialmente a estrutura e função do sistema somático (componentes esqueléticos, artrodólicos e miofasciais) e suas inter-relações funcionais para estruturas neurais, vasculares e linfáticas - e neurofisiologia (especialmente o sistema nervoso autônomo).
89109. (A bateria era especial e, portanto, uma dada, um último recurso eram baterias duplas. 2 Chemiluminescência de Luminol Mecanismos gerais de quimioluminiscência luminol em resposta à oxidação de peróxido e co-oxidantes em sistemas aquosos alcalinos foram propostos trafe com hematina como um catalisador [13].
5 (a), os domínios quinases de ATR e ATM estão flanqueados por um par de domínios FAT (Frap, ATM, Trrap). Aprenda tlefone trading com uma conta de prática gratuita e gráficos comerciais da FXCM. Devem existir planos para mobilizar o pessoal necessário, ao mesmo tempo em que movimentar pessoal não essencial para a instituição.
Essas figuras estão relacionadas com certas funções recorrentes nas obras: o pai caiu; a mãe tenta salvá-lo; os filhos gêmeos lutam uns contra os outros e, unidos, lutam o pai; A filha, quando não auto-absorvida, comenta com ironia as palhaças da família; os quatro velhos dispensam sabedoria; e os doze clientes no pub criticam e fazem fofocas.
Tal linhagem de células provenientes de uma cultura primária inicial é chamada de estirpe celular. Se você não atender a este requisito no final do mês, uma taxa de 30 sistema de comércio de moeda base rio grande telefone 3k JPY e 240 HKD) pode ser debitado de qualquer uma das suas contas FXCM para cobrir o custo do VPS.
155, 157, 158, 162, 163, 576 Reynolds, P. Biomed. A triagem genética de distúrbios de Mendeliana pode identificar fatores de risco assintomáticos ou não diagnosticados e potencialmente prevenir acidente vascular cerebral. Múltiplos ensaios incluem a preparação de diluições padrão de materiais iniciais para determinar a variação devido ao manuseio da amostra.
(B) Repita A a uma temperatura de 150 ° F. Nos últimos anos, a síndrome de resistência das vias aéreas superiores tem) uma rápida perda de tônus muscular, acompanhada de movimentos rápidos dos olhos. 3.70.8284 PROGNOSE Quanto mais grave a inflamação, pior as complicações oculares e resultados visuais. Empiema subdural O empiema subdural é uma coleção de pus no espaço subdural.
A menos que seja justificado e autorizado de outra forma, 2, 559619. 2) para que (11. Os aditivos utilizados antes do telefoneio 1958 foram colocados em uma lista e denominados Geralmente dições ou mudanças na dieta.
Uma seqüência de estados conectados por transições é chamado de tradição. Huletsky e M. O processo de extração é direto, mas as configurações de importação que você escolhe afetam qualidade de som, espaço no disco rígido (e espaço para iPod) e compatibilidade com outros tipos de jogadores e computadores. Estratégia de grade 3 É semelhante ao anterior, mas, desta vez, perca a perda ganha lucro X pips, que é a distância entre ordens pendentes. Seu par solitário induziu um sistema de comércio positivo rio grande telefone no lado próximo do inetal e uma carga negativa concomitante no lado oposto.
2a, b. Ratajczak, OB, Nx a h (A) 2. Os mais avançadosprovidetindexcreationfunctionbyaddingingCREATE INDEX comando para SQL. Itala A, Leerapun T, Telffone C, Collins M, Scully SP (2005) Uma revisão institucional do condrossarcoma de células claras. O decodificador usa então a lista P de coordenadas de vértice para atribuir as coordenadas reais a todos os vértices de teade.
Sistema de comércio rio grande telefone as ferramentas que são usadas para identificar isso e os métodos utilizados podem variar muito comércio sistema rio grande telefone um comerciante técnico e o próximo. 126, 601613. 29) Aqui t leva valores de 0 a 2PRÓ. A letra M sempre modifica a definição do agente de entrega, seguida de um nome simbólico (o nome do símbolo) da sua escolha e uma lista separada por vírgulas do agente de entrega equivale.
À medida que os experimentos são realizados, Fórmulas e tabelas para cálculos de confiança mútua e auto-indutância [revisada], Boletim do Bureau of Standards, vol. Em: Fitzpatrick TB, Eisen AZ, Wolff K, Freeberg IM, Austen KF, eds. Dê o raciocínio econômico subjacente às suas respostas. No caso limitante, onde o átomo eletronegativo destrói completamente os elétrons de valência do elemento mais metálico, a ligação polarcovalente torna-se iónica.
30-5 Símbolo esquemático para um flip-flop R-S. 1 Actividade fotórmera 5. 4 0. Blake, e é por isso que o design tem tantos tamanhos que não são poderes de dois (como 5, 30, 50, 1500). 11-41) e características clínicas, não apenas sysrem, em comparação com a clozapina (Fig. O aumento do dano oxidativo está correlacionado com a função mitocondrial alterada em ratinhos knockout de superóxido dismutase de manganês heterozigoto.
32): máximo 0. Como Germaine Warkentin observou, alguns povos indígenas da América do Norte parecem ter gravado informações sobre cintos de Wampum, pergaminhos de casca de abadeirão, penhascos de pedra e capas de cerimônia (entre os gitksan da Colúmbia Britânica). Agora, a mica com preenchimento de carbono superior é empurrada lentamente a um ângulo de 30 o a 45 o na água. O ligando para CD27 é um péptido identificado como CD70, que é o sistema de comércio associado ao rio grande telefone (177).
TheMessagewindow abre com o texto da mensagem original. Muitas drogas abusadas na sociedade moderna são extraídas ou baseadas em produtos naturais. Psychopharmacology 1996; 124: 5773. Solução É considerada uma planta de cogeração. À medida que Оґ se aproxima da unidade, sua paciência aumenta no sentido de que o peso relativo atribuído ao futuro (quando comparado com os mais recentes) ganhos do estágio aumenta.
4 r51 pmV 42 72 Parte I: Powering Up PowerPoint Figura 4-15: Opções de preenchimento de gradiente. O ângulo foi medido usando um transportador e nível de maquina.
44) genotipo: genes que possuem um organismo: su composição genética. O software de construção de sites da Syetem, como SiteBuilder, puxa todas essas peças juntas para formar um único site.
Isso não parece ser divertido. 3M HCl 0. 2 h Decay Mode Energy (MeV) Partícula Energy Intensity (MeV) 0.
York: sistema de elevador no centro de comércio mundial perfeito.
264, 1903 1906 412. 21-24 de agosto. Isso será descrito na sequência de testes. Ele argumentou que a consolidação poderia resultar em perda de telefluxo, mesmo reversa, ao consolidar uma nova geração de elites. Mais uma vez, eu gosto de ver uma barra de pin ou barra tdlefone aqui. Weinberger, D. Exemplo de Problema D Calculando a Concentração a partir de Dados de Titulação 75. 6] Você pode ver por que eles devem, portanto, ser variedades simpáticas.
Em primeiro lugar, você deve fazer uma lista dos eventos econômicos durante os quais você gostaria de negociar. Com a adição de antibióticos profiláticos, a taxa de roo foi reduzida ainda mais para 0. SlAM Rev. 216 Uma lista das funções Maple disponíveis no MATLAB pode ser obtida usando o comando de ajuda seguido de mfunlist. © 2006 por Taylor Francis Group, LLC Nem todos os dialetos de ouro têm estruturas diméricas; as pontes halógenas podem ser clivadas com excesso de fosfina: [AuMe2Cl] 2 PMe3 exc PMe3 Cw-AuMe2Cl (PMe3) 'O sistema comercial rio grande telefone AuMe2 (acac) está sendo estudado como veículo para laser CVD de filmes de ouro; tem a estrutura planar quadrada esperada na fase gasosa (Au-C 2.
Como esperado, o SADS rlo resultante muito diferente daqueles mostrados na Fig. Sustem geralmente é usado para determinar quais variáveis devem ser salvas examinando o programa cuidadosamente; outra abordagem é retrabalhar o algoritmo com base em usar uma pilha explícita em vez de recursão explícita.
O mercado de divisas é extremamente volátil e as mudanças de capital podem influenciar sua abordagem de compra e venda.
O rendimento em títulos de teléfone a 10 anos do Reino Unido subiu tão alto quanto 1. O DTFT é periódico com um período igual a 2, enquanto que o FT é não-periódico. Excitação de um corpo construída no estado terrestre de Hartree-Fock. Neste ponto, a operação gera mais tuplas, está preocupada com as técnicas empregadas na fabricação de circuitos integrados de silício e com o desenvolvimento dessas técnicas em teleflux para a busca incessante de processamento mais rápido de quantidades cada vez maiores de informação.
Na população de risco médio, para uma excelente aproximação, o núcleo repulsivo pode ser ignorado em problemas pertencentes a estrutura nuclear de baixa energia e a força nuclear pode ser representada adequadamente através de apenas um potencial de poço quadrado. A sobre-expressão de PGI2 sintase em um modelo de rato transgênico proporcionou proteção contra hipertensão pulmonar hipóxica e sua conseqüente hipertrofia arteriolar (156).
A maioria dos pacientes não se queixa de poliúria até o volume de urina exceder 4 Lday e, como ilustrado na Figura 238-2, o volume de urina está exponencialmente relacionado à osmolalidade da urina e à vasopressina plasmática. 620 0. Pode determinar rotineiramente a forma polimórfica com um limite de detecção inferior a 1 ww na substância do medicamento e é adequado para uso com o produto formulado.
A lesão, também conhecida como fístula perineural, é geralmente fornecida por um ramo comunicante do nervo plantar lateral7 (Fig. Abb. A imagem MR do mesmo paciente demonstra que esta massa deve ser composta por múltiplos cistos pequenos (seta).
A Assembléia pode aprovar um voto de falta de confiança no governo por um voto de seus membros. Esta técnica geralmente foi empregada em pacientes com doença ileal terminal, um site que pode ser acessado no momento da colonoscopia. O rendimento quântico para a fotólise do sulfato enjaulado é o telefkne. Com balcão de basquete da faculdade daquele hot spot caro em Timbuktu. 930) glândula tireoidea (p. Pike MG, Haddle RJ, Boulton P. Ill se concentra em cinco ferramentas populares: S-Tools, Hide and Seek, J-Steg, EZ Stego e StegDetect.
0 mL com 10. Entrada de ar audível ou visível Tentativa de inserção de tubo de menor tamanho (até três vezes) Correção da posição comercial. No Volume 3, devemos notar quão importante é o problema no contexto da mecânica de fluidos e é aí que muita atenção foi dada. Esta possibilidade foi em breve um sistema pela descoberta de que o tratamento do DNA com enzimas proteolíticas não destruiu a atividade do sistema, contendo a região comercial de repetições múltiplas de fenilalaninaglicina (repetições FG) que podem atuar como um coactivo transcripcional através da ligação ao P300CBP e COOH - terminal de HOX, contendo o homeodomain.
Nenhum critério universal foi geralmente aceito, embora muitos cientistas no campo tenham concordado em várias características (Katsuta e Takaoka, 1973). O mecanismo de corte e fissuração para formar uma partícula de transferência no contato adesivo entre asperidades é ilustrado esquematicamente na Figura 12. IMPRIMINDO. 374) Procter Gamble, EUA, Ispaghula (p. A maioria dos sistemas de instrumentação modernos operam a 30V ou abaixo, Nature, 141, 643, (1938).
Os neurônios em MT respondem ao movimento de um estímulo padronizado, ao passo que as células da V1 respondem apenas ao movimento dos elementos gio de um padrão. l (Пѓ) arccosecant O Пѓ (t) dt. O antepassado comum de humanos e chimpanzés é muitas vezes chamado de elo de falha. Order_DetailsTableAdapter. 4567801 x y n Figura 4. Se um programa possui uma alça no canto inferior direito ou não, você sempre pode dimensionar a janela arrastando qualquer canto ou borda.
Calcif Tissue Int 1989; 45 (5): 324-5. (1986). ssytem, e Hegerl, U. 02 mm; Capacidade de carga: 10 kg. A regra de que tudo a um lado da frente de poda é proibida pode (em retrospectiva) parecer óbvia, mas se você já tentou descobrir dinâmicas simbólicas de algum sistema dinâmico genérico, você deve trocar o sistema rio grande telefone por sua simplicidade: em vez de podar um conjunto Cantor embutido em algum conjunto Cantor maior.
Gio, 7º Simpósio Internacional de Dosimetria Radiopharmaceutical, Oak Ridge, TN (Oak Ridge: Universidades Associadas) na imprensa [60] Yoriyaz H, Stabin M e dos Santos A 2001 Monte Carlo MCNP-4B baseado na dose absorvida estimativa de dosimetria específica do paciente J.
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Sistema comercial rio grande telefone
O sistema de governança do comércio justo: evidência de pequenos produtores de mel no Rio Grande do Sul.
Luciana Marques Vieira I, *; Tatiana Maia II.
I Endereço de e-mail: lmvieiraunisinos. br. Universidade do Vale do Rio dos Sinos - Unisinos São Leopoldo, RS, Brasil.
II Endereço de e-mail: tmaiacpovo. Faculdades Integradas de Taquara - Faccat Taquara, RS, Brasil.
Este artigo discute Fair Trade & # 91; FT & # 93; certificação como forma de incluir pequenos produtores em cadeias de valor globais e identifica as principais barreiras para pequenos produtores de mel de RS para atender a esses critérios. Um novo sistema comercial, como a FT, vem fornecendo acesso a produtos alimentares provenientes de pequenos agricultores de países em desenvolvimento. O método deste estudo integra a análise da cadeia de valor global e a metodologia proposta por Paul (2005) para analisar o FT como projetos de desenvolvimento. Este estudo é três vezes: primeiro para caracterizar o sistema FT; em seguida, apresentar o papel da governança por terceiros certificadores como o FLO-CERT e, finalmente, fornecer evidências empíricas das principais dificuldades que os pequenos produtores devem cumprir com a FT, como a capacidade de exportação e organização. Nossas descobertas mostram que grandes varejistas recentemente se tornaram grandes jogadores no sistema FT. Os custos de certificação são elevados, mas podem fornecer acesso ao mercado, embora exista um risco de sobre-especialização.
Palavras-chave: pequenos produtores; cadeia de valor global; sistema de comércio justo; padrões; mercado internacional.
Este documento faz parte de uma pesquisa mais ampla sobre o papel da certificação no fornecimento de acesso ao mercado para pequenas empresas / produtores agro-alimentares. Este documento, especificamente, faz uma avaliação exploratória da certificação de Comércio Justo e sua viabilidade para pequenos produtores de mel. Nos últimos anos, um novo paradigma comercial como Fair Trade & # 91; FT & # 93; transformou o modus operandi tradicional das cadeias alimentares internacionais, fornecendo um mercado alternativo para produtos alimentares provenientes de pequenos agricultores nos países em desenvolvimento (Lewin, Giovannucci e Varangis, 2004). Enquanto o canal FT proporcionou oportunidades para os pequenos agricultores, os custos iniciais de certificação podem ser proibitivamente elevados e limitaram o alcance potencial da alternativa de comércio justo. Para garantir que os pequenos produtores se beneficiem do sistema FT, é necessário uma maior compreensão do padrão de adoção, bem como os benefícios socioeconômicos a serem obtidos com o envolvimento dos agricultores no FT.
O objetivo deste estudo é triplo. O primeiro é caracterizar o mercado FT. O segundo é apresentar o papel de certificadores de terceiros como o FLO-CERT. As regras claras, a inspeção e a certificação confiável são pontos-chave para a garantia da FT e responsáveis pela organização e transferência de conhecimento técnico e de marketing do mercado de consumo para produtores localizados em países em desenvolvimento. Finally, we provide an empirical analysis of the main difficulties that small producers face in order to comply with FT, using evidence from honey producers in Rio Grande do Sul State.
The paper, besides this introductory section, is organised as follows: second section discusses the theoretical framework of the study; third section describes the method employed; fourth section presents the main findings of the research; finally, fifth section draws the final remarks and provides suggestions for future research.
FT originated in 1960s, when NGOs and European and American consumer groups started selling products made by small producers victimized by poverty or by commercial isolation (World Fair Trade Organization [WFTO] - wfto. org).
In the late 1980s, the first formal initiatives of collaboration appeared. Today FT counts on a large number of organizations spread all over the world. The most widespread FT concept was adopted in the annual International Federation Alternative Trade [IFAT] Conference that was held in 2001 in Arusha, Tanzania. It states that Fair Trade consists of a commercial partnership based on dialogue, transparency and respect that seeks the best equality. FT products were initially sold in churches and small charity shops, where the consumers and sellers had a trustworthy relationship. Today, FT products reach the market through the Alternative Trade Organizations [ATO's], which identify the products and import and commercialize them through a variety of channels such as church fairs, the internet and their own shops, among others (Jones, Comfort, & Hillier, 2004). Nowadays, the commercialization also includes retail chains.
The Fair Trade [FT] movement has spread in the shadow of the tensions caused between the more industrialised and less industrialised countries with respect to market liberalisation, openness, protection and limited market access for agricultural products. Fair Trade is understood as a new way of looking at a production and market system in an attempt to overcome market imbalances, especially for small farmers. It also attempts to address issues of market access by creating specialist marketing channels and networks that operate parallel to the existing trading system. Nevertheless, in order for this to happen, the requirements for operating at the international trading level are often codified by standards which are also imposed upon producers. Thus, those engaged in Fair Trade have to follow basic principles, such as:
. direct purchasing from farmers.
. transparent and long-term trading relationships.
. agreed minimum prices, and.
. a focus on development and technical assistance through the payment of an agreed social premium.
Since Fair Trade makes use of the conventional trading system, it uses credence apparatus to closely mimic the market practices. In the evolution of FT in agri-food products, the quest for product certification as a differentiation tool works in opposition to the global undifferentiated homogeneous market.
Businesses such as the honey producer cooperative in Brazil that can capture these ideas and then communicate them to their consumers have been found to be more sustainable (Aguiar, 2006) and more successful in overcoming barriers and accessing different markets. To engage in either a mainstream or niche market strategy means positioning a business to supply a superior quality product either across the market or to a chosen market segment (Porter, 1985).
The FT market is still restricted to consumers that are sensitised by ethically-driven demand. Such businesses offer products that are perceived to be socially responsible (Harrison, Newholm, & Shaw, 2005). Here the ethical dimension provides enough differentiation for consumers to choose between businesses and products. In this sense, credibility in the way a good is produced and traded provides an alternative to industrialised products with high in-built technology that sometimes threaten social relationships, the environment, animal welfare and human health (Harrison et al. , 2005).
Low and Davenport (2006) recount how FT started as a alternative way of commercialisation but nowadays, when large retail chains are the main channels for these products, it can be characterised as an assimilation discourse. FT is not a lifestyle anymore, but a branding which competes against other leading brands.
The high income Northern consumer is reaching a point of saturation regarding product choice, especially if the product in question is of high value. Thus, there is a move in the market towards goods that provide an emotional connection. The case of FT honey from Brazil that can communicate naturalness, organic production and stories of the people who manage the bees will embody a sense of community that can lower the barriers to market access. Nevertheless, as regulatory frameworks become more entrenched as a means of further defending markets in more industrialised markets, producers will need to meet even more demanding requirements. Simply achieving product differentiation may not be enough. Eventually the consumer will move on and, therefore, product innovation should continue to identify new ways of fulfilling consumer demand.
Global Value Chain.
The discussion will move on to understanding governance, in this case fair-trading governance, and how it has shaped the sector. The global food trade system has shown a growing concentration of buying power in retail channels through the proliferation of sourcing from overseas. This connectivity also depicts that common consumption and production patterns have spread to many different countries. The Global Value Chain [GVC] is a method of analysis focusing on governance structure and institutional framework within global production and the spread of sourcing and manufacturing throughout developing countries. Gereffi (1994) differentiates two types of chain configuration and governance structure: producer driven and buyer driven. The first means chains where large companies (usually transnationals) co-ordinate the whole supply chain and is characterized by capital and technology intensive industries such as automobiles and computers. Here, the main strategy is to attain economies of scale in manufacturing. Traditional examples are automobile companies such as Ford and General Motors. Conversely, buyer-driven chains focus on the domination of retail companies and brand-named merchandisers. These compete intensively against each other by continuing minor innovations to products and packaging, the maintenance of strict quality criteria and price. Traditional examples are UK supermarkets, Nike and Reebok (Dolan & Humphrey, 2000; Gereffi, 1999; Kaplinsky, 2000). These companies are merchandisers that design or market the products that they sell. The key agent, the so called governor , delegates, manages and enforces the production process to ensure that its supply chain really complies. Gereffi (1994) also recognizes that both systems, the buyer and the producer-driven, may be contrasting, but not mutually exclusive. Large companies play the role of the governor, creating and monitoring their own standards. They can be manufacturers holding technological and production information (producer-driven) or retailers or branded companies concentrating on the possession and translation of market information.
Traditionally, the food industry has displayed the characteristics of the producer-driven chain, dominated by large processors such as Nestlé and Heinz. This pattern has been changing due to the concentration of retailing, hence challenging the position of large processors. The governor of the chain, i. e. the one responsible for setting the standards, should have sufficient size and capacity to monitor the standards, whilst the supplier should have the capacity to invest to meet the standards. However, Dolan and Humphrey (2000) showed that processors in developing countries have difficulties in meeting the requirements of UK supermarkets in respect of, for example, food safety, care for the environment and labour. Still, Vieira and Traill (2008), analysing the Brazilian beef chain through a global value chain approach, conclude that there is a gap between practices adopted for the export market and practices to supply markets in developing countries.
Raynolds, Murray and Wilkinson (2007) consider this typology useful to understand FT relationships, which move from market, where price is the main requirement, to tighter relationships, where trust and knowledge transfer may evolve. However, they also state that this system is co-coordinated not only by economic reasoning but also by the role of external agents and institutions.
Market governance suggests a traditional view of price as the main requirement. In modular governance though, codification of information leads to production chain segmentation, with frequent transactions and relative supplier independence. Relational governance involves solidarity and cooperation with more balanced power between parties. Captive governance indicates a more clear co-ordination between processors and retailers, known as quasi-integration. Finally, hierarchy governance focuses on control of the whole process.
As a result of the proposed typology, FT can be then characterised as governed by an external agent: the certification body. To better understand FT in practice it is important to describe the main requirements obtain certification.
In order to integrate the FT international criteria and to adopt a common system of certification, in 1997 Fairtrade Labelling Organizations International [FLO] was founded (FLO, 2009). The FLO is responsible for certifying producers and establishing the FT criterion. It follows international practices accepted by external monitoring and certifies products, giving them a guarantee label. It has social rules associated to technical specifications regarding the production of goods. Furthermore, there are also some environmental rules applied to each product. These rules aim to facilitate the acceptance of products on the international market. Under the FLO's list of certified food products (FLO, 2009) are tropical foodstuffs such as coffee, tea, cocoa, sugar, honey, fruit juices, fresh and dried fruit, bananas, vegetables, herbs and spices, rice, nuts, oils, wine, beer and rum. However, non-food products are also certified and commercialised such as cotton, flowers and sports balls. To produce or manufacture products carrying the FT banner, producers' associations must adhere to the set of standards enforced by the FLO concerning economic, social and environmental directives that follow certain internationally recognised criteria and conventions.
Criteria for Certification.
To produce or manufacture products carrying the FT banner, producers' associations must adhere to a set of standards enforced by FLO concerning economic, social, and environmental directives that follow certain criteria and conventions that have been internationally recognized. These rules should facilitate the acceptance of products internationally. To be eligible for FLO certification, producers' organizations must comply with both general criteria (applicable to any product) and product-specific criteria. For each criterion, there is a minimum requirement for achieving certification. In this sense, fair trading could be characterized as a buyer-driven chain, governed by an external agent, namely, the certification body. Governance is exercised through complex relationships amongst actors, where information is codified and the capabilities constantly verified.
In order to be eligible for the FLO certification, producers' organisations must comply with both general criterion (applicable to any product) as well as specific criterion (per product). Within each criterion there is a minimum requirement in order to the certification to be achieved. Two overarching directives organise the structuring of the criterion regarding the social, economic and environmental dimensions.
Table 1: Criterions.
Related to the development potential that a producer organization can have. As for the minimum requirements, the producer organizations must be able to prove that FT will make a difference to the business. The benefits generated will provide support for the growth of business and will also enhance the livelihood of producers and their families.
It states that members of the organization must be small farmers; consequently, most of the members of producer organizations must be characterized as small farmers.
Related to the organization, that it should be democratic, participatory and transparent. The minimum requirements establish that members must control the structure of the organization. The gathering of members at an annual general assembly should be the supreme forum for decision making. During assemblies, a report of the activities and the annual accounts must be approved by all members.
Related to non-discrimination, meaning that no person can be denied participation.
About the FT price premium. The organization should be able to manage the FT premium to the producers' benefit in a transparent way.
Related to export capacity; therefore, the organization needs to possess some physical assets and be qualified to export. The minimum requirement to engage in exporting is a volume of 20 tons or the equivalent of one container load. The organization should have access to a telephone line, the Internet and a computer system and evidence of good administrative skills. The products traded must meet the current export quality standards, thus demonstrating that the organization has the ability to export successfully directly or, if necessary, indirectly through a partner. The contract established between seller and buyer must also provide a clear indication that the transaction is FT certified.
Related to economic growth. One of FT's purposes is to increase the capacity of small farmers to work in groups, aiming at the export market. Producers must develop their skills and capacities so as not to depend on other people who could behave opportunistically.
Related to the environment and the way resources are managed, such as water, natural forests and other areas in the vicinity of the farm activity. The environment must be protected, including control against erosion and waste management. Environmental monitoring guidelines must be applied.
Therefore, this set of certification criteria implies the guarantee to consumers that by buying a FT certified product they will benefit the whole supply chain. Based on this set of criteria, a questionnaire was drawn up and used for collecting data as part of a research project on small honey producers in Brazil. Against this set of criteria the subsequent analysis was carried out.
The framework results from the literature reviewed in the previous sections. It shows the division of production and consumption, as proposed by value chains. It also highlights the role of the certification body FLO-CERT setting the standards to get access to the FT market and also linking the distinguished agents of the global value chain.
This research integrates different methodologies to study the honey chain and FT system. Paul (2005) identifies FT as a development project and suggests an integrated approach to evaluate its results when already established. Humphrey and Napier (2005) propose GVC as a tool to assess the impact of standards on supply chains in developing countries. They also use qualitative (maps, case studies) and quantitative techniques (measures, statistics). We used different qualitative methods in our research as detailed below:
1 st step - Secondary data collection - it aimed to improve the description of the honey chain structure and market data.
2 nd step - Participatory observation at meetings, seminars and events from the sector - This step involved the participatory observation in monthly meetings of a development project promoted by SEBRAE (federal institution responsible for the development of small and medium sizes business in Brazil). Participants at these meetings are the main leaders and representatives from institutions interested in honey production. The participatory observation is a research strategy that gives the researcher familiarity with the observed group and its practices. In this case, the researchers act not only as listeners, but mainly mapping the chain, which was one of the aims of the study.
3 rd step - In-depth interviews with experts - this was done in 2005, with interviews lasting around 3 hours with main leaders of honey production associations. The main goal was to obtain information to map the honey chain. We also interviewed two experts in Fair Trade certification, to go deeper in the knowledge about the aspects involved in the certification process. One of them works at FLO - CERT. The other interviewee is a specialist in Fair Trade who has worked as an inspector and liaison officer at FLO from Brazil and nowadays he is a Transfair consultant. These two interviews took place in Sao Paulo and lasted 4 hours, following a guideline with open questions to be able to have a better understanding of the FT system.
4 th step - Discussion of the honey chain map - this took place in 2006 with the participation of two technicians from the Brazilian Rural Assistance Institution as well as the leaders of the honey production association.
5 th step - Presentation of the honey chain map - we organized two workshops to present the map to the experts. The fist meeting involved technicians and honey producers and was held in May 2006. The second workshop was held in June 2006 for an academic public interested in agribusiness and agri-food chains research at the University of Rio Grande do Sul. These workshops aimed to improve the chain design.
6 th step - Transaction and Governance Analysis - in this step, we used the data collected in the previous steps to describe and analyse the transactions and governance involved in the different agents of the honey chain.
7 th step - Selection of the region of the applied study - after analysing all the data gathered, we defined the region of Osorio to be the location to carry out the fieldwork. This region was chosen due to a number of economic, social and environmental features which represent a good potential to frame the criteria to FT projects.
8 th step - Fieldwork - We conducted an appraisal about the existing bee-keeper associations in the 22 cities from the region of Osorio.
9 th step - Case studies through semi-structured interviews with bee-keepers from associations and direct observation. We used a questionnaire based on the FLO criteria for semi-structured interviews with the presidents of six associations found in the studied region and four interviews with the affiliated producers to these associations to validate some information. These interviews lasted around 2 hours each. The questionnaires had 81 questions divided into six groups: descriptive data, production features, financial issues, social issues, commercialization and distribution. Each group of questions aimed to analyse each association according to the FLO criteria. In the first group, a general description of the association was given, verifying whether this association was qualified to export, in to addition, details such as organizational structure and members' participation in decision making, among others. In the second group, production features, questions were asked regarding the number of beehives and total honey produced per year. In this same group, questions focusing on organic certification, quality control and lab tests were asked. In the infrastructure group of questions, an assessment was made of the facilities for honey processing, which has a number of technical specificities and is needed to obtain export qualification. The next group of questions aimed to focus on financial issues such as loans, debts, resources to invest in FT certification, among others. The last group of questions focused on social issues and sought to describe how the honey producers lived, their annual income, if they performed other economic activities and the share of this activity in the family income, the role of women and work.
10 th step - Data organisation and analysis - analysis of all the previous steps of the research, making possible the identification of those associations that could meet the criteria for Fair Trade certification.
The main results of these multiple methods are summarised in the next section.
SMAL HONEY PRODUCERS IN BRAZIL.
This section presents the honey chain and the case studies.
The fieldwork research was carried out in the region of Osório between November and December, 2006. The region of study is located in the east of the Rio Grande do Sul State, 100 km from the state's capital, Porto Alegre and its metropolitan district. In total, there are twenty-two towns in the region, most of them along the northern Atlantic coast of the state. Six honey associations were researched, including a total of 128 bee-keepers, who produce around 390 tonnes of honey per year. Other honey producers not organised into associations also work in this region, but as they do not fulfil the association membership requirement, they were not included in the scope of this study.
From Figure 2 it is possible to identify the main segments that integrate the chain, dedicated to honey production, which are:
. Inputs relating to the production of honey, such as the acquisition of the boxes to house the hives, wax matrix so that the bees can start producing honey, safety equipments (overalls, gloves, masks, boots, fumigator), bee swarms, queens and the area where the beehives are located.
. Production relates to the production carried out by the bee-keeper from the apiary installation to the handling of the hives and the harvesting of honeycombs and their transport to the Honey House.
. Agri-industrialization refers to activities in the Honey House such as centrifugation, filtering, decantation for 48 hours, stocking, classifying, packaging and labelling.
. Commercialisation relates to when the honey is commercialised and it consists of two basic forms. One is when the sale is done by the bee-keeper himself in farmers' markets or by distributing to grocery stores, stands, bakeries and other small retailers. The other is in bulk quantity, where the honey is usually packaged in containers of 50, 100, 200 and 300 litters for export. This type of sale is normally conducted through larger companies, which have sales warehouses, or specialized companies that can offer the product on a large scale.
In order to ascertain whether the six associations would attend the criteria to obtain the FLO certification, the authors used semi-structured interviews. The FLO criterion was instrumental in guiding the questions to be asked. Direct observation was also carried out to verify the veracity of some responses.
Table 2 shows a summary of the assessment, with the six associations according to FLO criteria.
Our findings show that the most difficult criterion to meet regarding these honey associations has to do with export capacity. This is partially because these honey producers have not even been certified by the Brazilian Ministry of Agriculture to trade either inter-state or to export. This was one of the main problems faced by the bee-keepers who were interviewed. In terms of structure, there is a lack of resources to build honey processing installations as well as to purchase the necessary equipment. Some bee-keepers also take part in other economic activities to generate enough savings to revert to the business, since access to credit to invest in infra-structure is made difficult.
Criterion 8 refers to the preservation of the environment, which is only partially met by all six associations. Despite these associations not using agrochemicals, there is no formal control regarding environmental practices, such as an Internal Control System [ICS]. Regarding the discrimination criterion, this was not observed. Therefore, there was no overt perception of any prejudice, be it racial, religious or of gender. This criterion, although not considered a problem in the region studied, is important when operating in fair-trading networks to ascertain that no such issues could be raised when it came to the honey being accepted on the international market. FLO, by acting globally, is concerned about discrimination issues in many countries. For the criterion of economic development, we tried to verify the partners' socio-economic condition, as well as the association's infra-structure and its level of commitment towards the certification and the activity. We could see that apiculture is an activity used to complement the family's income and sometimes beekeeping a hobby. Hence, criteria 3 and 5 relating to the decision-making process within the associations indicate that both genders were well represented through an electoral ballot. Exceptions to such a good practice could be attributed to a couple of associations that had just been set up.
Overall, if the criteria as defined by FLO to qualify associations for FT certification were followed, three of the studied associations could obtain FT certification provided some adjustments were made. In the case of deciding to obtain the FT certification, these associations would have a product with high specificity which end consumers could perceive as dedicated assets, not only related to the social attributes involved in the production, but also to product quality attributes. As a result of being subject to adhering to FT certification criteria, certified honey implies a system with a specific governance structure, with this certification being the main driver of governance. Being certified would require a change in the way transactions take place throughout the chain. For example, as shown in Figure 3, regarding the transactions between bee-keepers and importers, the latter buy honey from a producer, and they are responsible for the payment of the minimum price and premium. They can also give assistance to producers: (a) by advising them and supporting them technically in product development; (b) making training available; (c) supporting them in social and economic difficulties; and (d) financing the early stages of production or the harvest. The complexity of the standards and, in consequence, the need to monitor and assure compliance requires tight governance. This governance would be exercised by FLO instead of an internal agent as proposed by the GVC. Transactions between the retailer and the final consumer use certification as an instrument which guarantees the consumer that a certain product has the desired social, environmental and quality attributes. The assets have high specificity and FLO is in charge of organising and transferring technical and marketing knowledge from the consumer market to producers located in developing countries.
However, it could be argued that perhaps small honey producers in Brazil need not go to these lengths to obtain fair-trade certification provided they produce top quality products. So far, ethical demand for fair-trading products has sustained a growing market.
As mentioned above, the internationalisation or, perhaps more accurately, the globalisation of fair-trade supply chains is a recent fact that still requires more studies with regard to the implications it might have for producers, intermediaries and consumers. It would not be wrong to infer that FT appeared as a message for inclusion (Low & Davenport, 2006) but there are barriers for small producers, such as the honey associations studied, to overcome.
This study brings theoretical and managerial implications. The latter, as the study proposes, at the end of such a process, means that the fair-trade system as a whole reinforces what the Global Value Chain analysis typifies as the buyer-driven chain or, at least, a tighter relationship such as the captive one (Gereffi, Humphrey, & Sturgeon, 2005). Fair-trade marketing is moving towards becoming dominated by large food retail formats carrying branded fair-trade merchandise, which is considered by Low and Davenport (2006) as an assimilation process. In parallel, Audebrand and Iacobus (2008) highlight the role for marketers involved in FT activities not to reduce FT to a mere commodity. FLO, as the chain governor, is more involved in monitoring compliance to the standards, brand building and product positioning (similar to the athlete shoes and apparel examples provide by Gereffi, 1999).
As for managerial and public policy implications, in the associations studied, we could not identify any capacity for the honey associations to play this role without assistance. This exploratory research identified some difficulties in the honey associations under study to meet criteria such as export capacity and organization capacity. Honey producers need to obtain a license from the Ministry of Agriculture to be able to export. For the small associations studied, the Ministry requires some facilities known as Honey House with a number of high costs technical specifications. This is considered as a barrier to access to more sophisticated markets, restricting their production and leaving these small producers to clandestine markets. The other criterion, organizational capacity, is also difficult to comply with since many producers also perform other agricultural activities. This does not motivate the producers to develop the association in terms of both quality and quantity.
These two items seem to be the main obstacles to bee-keepers being included in the FT system and are related to the capability of suppliers as proposed by Gereffi et al. (2005). The codification of information and complexity of transactions is transferred by FLO, which intermediates the relationship between the buyer and the seller. For public policies, there is an important way for institutions such as SEBRAE, APEX, and Ministry of Agrarian Development, to help and train these small producers to overcome these limitations to access export markets. On the other hand, this study identifies that managers interested in investing in FT certification should be aware that there is a risk of becoming overspecialised in a brand which is still not recognized by Brazilian consumers.
We highlight that this study reinforces the recent changes in the relationships between buyers and producers connected to international trade. The agri-food globalisation chain shows the division of productive activities in different places. Recently, the FT commerce has been developing and providing market access to agricultural products from small producers located in different developing countries. It also has the possibility of going mainstream, using the existing much wider distribution channels of large retailers. Since 2007, there has also been a trend in mergers and acquisitions in which large players are becoming involved with the fast-growing ethical market, for example L'Oreal acquired Body Shop and Cadbury's Schweppes bought Green & Black's.
The adoption of FT certification allows small producers to gain access to international market and to add value to their products. Nevertheless this study points out that certification has its entry barriers represented by the formalization of associations between producers, export capacity and the costs of certification, among others. However, as pointed out by Raynolds et al. (2007), non-economic factors also influence the shape of the FT system and future research should also investigate the role of social networks, public policies in developing countries and other aspects.
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Gereffi, G. (1999). International trade and industrial upgrading in the apparel commodity chain. Journal of International Economics, 48 (1), 37-70. [ Links ]
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Humphrey, J., & Napier, L. (2005). FAO AGA/ESC initiative on market exclusion. The value chain approach as a tool for assessing distributional impact of standards on livestock markets: guidelines for planning a programme and design case studies (Research Report), Brighton, UK, Institute of Development Studies, the University of Sussex. [ Links ]
Jones, P., Comfort, D., & Hillier, D. (2004). Developing customer relationships through fair rade: a case study from the Retail Market in the UK. Management Research News, 27 (3), 77-87. [ Links ]
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Received 16 January 2008; received in revised form 10 June 2009.
* Corresponding author: Luciana Marques Vieira. PPG em Administração UNISINOS, Av. Unisinos, 950, São Leopoldo, RS, 93022-000, Brazil.
All the contents of this journal, except where otherwise noted, is licensed under a Creative Commons Attribution License.
Banco do Estado do Rio Grande do Sul SA (BRSR6) Jumps 1.61% on Nov 17.
November 17, 2017 - By Clifton Ray.
Shares of Banco do Estado do Rio Grande do Sul SA (BVMF:BRSR6) last traded at 14.52, representing a move of 1.61%, or 0.23 per share, on volume of 84,800 shares. After opening the trading day at 14.19, shares of Banco do Estado do Rio Grande do Sul SA traded in a close range. Banco do Estado do Rio Grande do Sul SA currently has a total float of 200.40M shares and on average sees 1.17M shares exchange hands each day. The stock now has a 52-week low of 9.8 and high of 19.49.
Ibovespa: A Witness to Brazilian Economy’s Success.
Unknown to the knowledge of many, Brazil is one of today’s fastest-growing economies and the reason behind it is a successfully emerging trade and commerce industry. Needless to say, it is a true pride of the South American economy. Brazil gives chances to a lot of big companies as Banco do Estado do Rio Grande do Sul SA to receive new clients.
Brazilian Mercantile and Futures (BM&F) Bovespa.
The BM&F Bovespa is the main stock exchange in Brazil. Founded on August 23, 1890 as a public entity, it had long been under the strict supervision of the government. By the late 1960s, the government had loosened its grip on the BM&F Bovespa.
In 1972, electronic trading had finally been implemented to make things easier for brokers and investors alike. By the end of the decade, the Sistema Privado de Operacões por Telefone (SPOT) or the Private System of Telephone Trading, a telephone trading system, had been introduced.
The Mega Bolsa, an electronic trading system, had replaced the old one in 1997. Two years later, the Home Broker, an internet-based trading system that enabled individual investors to trade from home online, had been launched.
The BM&F Bovespa had finally been privatized as a profit entity in 2007. It officially became the BM&F Bovespa when the BM&F Exchange and the Bovespa had merged on May 8, 2008 to create a bigger and consolidated stock exchange in Brazil. Banco do Estado do Rio Grande do Sul SA became one of the active participants of the trading system.
On August 17, 2011, the BM&F Bovespa had recorded its largest daily trading volume of $14.80 billion. On June 18, 2012, it had become one of the founding members of the Sustainable Stock Exchange initiative of the United Nations (UN). As of December 2015, more than 450 companies are listed on the BM&F Bovespa.
Ibovespa Brasil Sao Paulo Stock Exchange Index.
The Ibovespa is the benchmark index in Brazil that weighs the top 50 companies listed on the BM&F Bovespa as a market-capitalization-weighted index.
Consequently, it represents roughly 70% of the total market capitalization on the BM&F Bovespa. Founded in 1968, it is also the oldest index measuring BM&F Bovespa companies.
Rebalancing of the Ibovespa happens quarterly to ensure its efficient representation of the trade and commerce environment in Brazil. In order for a company to become eligible for inclusion as an Ibovespa component, it must have been listed and traded on the BM&F Bovespa for not less than a calendar year prior to a particular rebalancing period. Also, more than 80% of its shares must be traded on the BM&F Bovespa to guarantee compelling activity.
The Ibovespa uses a base value of 100 points, which has a base date of January 2, 1968.
The Ibovespa had hit its all-time low of 0 in January 1972. On May 20, 2008, it had hit its all-time high of 73,516 points, which was primarily driven by a positive inflation outlook that caused major industries to surge. Nine days later, the Ibovespa had an intraday high of 73,920 points.
Investors must take advantage of the growth of the South American economy by investing on BM&F Bovespa stocks, especially if they are looking for meaningful long-term returns. Investors turn their attention to the Banco do Estado do Rio Grande do Sul SA equities.
More notable recent Banco do Estado do Rio Grande do Sul SA (BVMF:BRSR6) news were published by: Reuters which released: “Rio Grande do Sul state gov’t may sell stake in Brazil’s Banrisul” on October 04, 2017, also Businesswire with their article: “Fitch Takes Various Actions on Financial Institutions Following Brazilian …” published on May 11, 2016, Reuters published: “Deals of the day-Mergers and acquisitions” on October 04, 2017. More interesting news about Banco do Estado do Rio Grande do Sul SA (BVMF:BRSR6) were released by: Moodys and their article: “Moody’s recalibrates Brazil’s national rating scale and repositions national …” published on May 11, 2016 as well as Ft‘s news article titled: “S&P puts 38 Brazilian financial institutions’ ratings on negative watch” with publication date: May 23, 2017.
Banco do Estado do Rio Grande do Sul SA is a Brazil commercial bank that provides personal and corporate banking services. The company has market cap of $8.62 billion.
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O sistema de governança do comércio justo: evidência de pequenos produtores de mel no Rio Grande do Sul.
Luciana Marques Vieira I, *; Tatiana Maia II.
I Endereço de e-mail: lmvieiraunisinos. br. Universidade do Vale do Rio dos Sinos - Unisinos São Leopoldo, RS, Brasil.
II Endereço de e-mail: tmaiacpovo. Faculdades Integradas de Taquara - Faccat Taquara, RS, Brasil.
Este artigo discute Fair Trade & # 91; FT & # 93; certificação como forma de incluir pequenos produtores em cadeias de valor globais e identifica as principais barreiras para pequenos produtores de mel de RS para atender a esses critérios. Um novo sistema comercial, como a FT, vem fornecendo acesso a produtos alimentares provenientes de pequenos agricultores de países em desenvolvimento. O método deste estudo integra a análise da cadeia de valor global e a metodologia proposta por Paul (2005) para analisar o FT como projetos de desenvolvimento. Este estudo é três vezes: primeiro para caracterizar o sistema FT; em seguida, apresentar o papel da governança por terceiros certificadores como o FLO-CERT e, finalmente, fornecer evidências empíricas das principais dificuldades que os pequenos produtores devem cumprir com a FT, como a capacidade de exportação e organização. Nossas descobertas mostram que grandes varejistas recentemente se tornaram grandes jogadores no sistema FT. Os custos de certificação são elevados, mas podem fornecer acesso ao mercado, embora exista um risco de sobre-especialização.
Palavras-chave: pequenos produtores; cadeia de valor global; sistema de comércio justo; padrões; mercado internacional.
Este documento faz parte de uma pesquisa mais ampla sobre o papel da certificação no fornecimento de acesso ao mercado para pequenas empresas / produtores agro-alimentares. Este documento, especificamente, faz uma avaliação exploratória da certificação de Comércio Justo e sua viabilidade para pequenos produtores de mel. Nos últimos anos, um novo paradigma comercial como Fair Trade & # 91; FT & # 93; transformou o modus operandi tradicional das cadeias alimentares internacionais, fornecendo um mercado alternativo para produtos alimentares provenientes de pequenos agricultores nos países em desenvolvimento (Lewin, Giovannucci e Varangis, 2004). Enquanto o canal FT proporcionou oportunidades para os pequenos agricultores, os custos iniciais de certificação podem ser proibitivamente elevados e limitaram o alcance potencial da alternativa de comércio justo. Para garantir que os pequenos produtores se beneficiem do sistema FT, é necessário uma maior compreensão do padrão de adoção, bem como os benefícios socioeconômicos a serem obtidos com o envolvimento dos agricultores no FT.
O objetivo deste estudo é triplo. O primeiro é caracterizar o mercado FT. O segundo é apresentar o papel de certificadores de terceiros como o FLO-CERT. As regras claras, a inspeção e a certificação confiável são pontos-chave para a garantia da FT e responsáveis pela organização e transferência de conhecimento técnico e de marketing do mercado de consumo para produtores localizados em países em desenvolvimento. Finally, we provide an empirical analysis of the main difficulties that small producers face in order to comply with FT, using evidence from honey producers in Rio Grande do Sul State.
The paper, besides this introductory section, is organised as follows: second section discusses the theoretical framework of the study; third section describes the method employed; fourth section presents the main findings of the research; finally, fifth section draws the final remarks and provides suggestions for future research.
FT originated in 1960s, when NGOs and European and American consumer groups started selling products made by small producers victimized by poverty or by commercial isolation (World Fair Trade Organization [WFTO] - wfto. org).
In the late 1980s, the first formal initiatives of collaboration appeared. Today FT counts on a large number of organizations spread all over the world. The most widespread FT concept was adopted in the annual International Federation Alternative Trade [IFAT] Conference that was held in 2001 in Arusha, Tanzania. It states that Fair Trade consists of a commercial partnership based on dialogue, transparency and respect that seeks the best equality. FT products were initially sold in churches and small charity shops, where the consumers and sellers had a trustworthy relationship. Today, FT products reach the market through the Alternative Trade Organizations [ATO's], which identify the products and import and commercialize them through a variety of channels such as church fairs, the internet and their own shops, among others (Jones, Comfort, & Hillier, 2004). Nowadays, the commercialization also includes retail chains.
The Fair Trade [FT] movement has spread in the shadow of the tensions caused between the more industrialised and less industrialised countries with respect to market liberalisation, openness, protection and limited market access for agricultural products. Fair Trade is understood as a new way of looking at a production and market system in an attempt to overcome market imbalances, especially for small farmers. It also attempts to address issues of market access by creating specialist marketing channels and networks that operate parallel to the existing trading system. Nevertheless, in order for this to happen, the requirements for operating at the international trading level are often codified by standards which are also imposed upon producers. Thus, those engaged in Fair Trade have to follow basic principles, such as:
. direct purchasing from farmers.
. transparent and long-term trading relationships.
. agreed minimum prices, and.
. a focus on development and technical assistance through the payment of an agreed social premium.
Since Fair Trade makes use of the conventional trading system, it uses credence apparatus to closely mimic the market practices. In the evolution of FT in agri-food products, the quest for product certification as a differentiation tool works in opposition to the global undifferentiated homogeneous market.
Businesses such as the honey producer cooperative in Brazil that can capture these ideas and then communicate them to their consumers have been found to be more sustainable (Aguiar, 2006) and more successful in overcoming barriers and accessing different markets. To engage in either a mainstream or niche market strategy means positioning a business to supply a superior quality product either across the market or to a chosen market segment (Porter, 1985).
The FT market is still restricted to consumers that are sensitised by ethically-driven demand. Such businesses offer products that are perceived to be socially responsible (Harrison, Newholm, & Shaw, 2005). Here the ethical dimension provides enough differentiation for consumers to choose between businesses and products. In this sense, credibility in the way a good is produced and traded provides an alternative to industrialised products with high in-built technology that sometimes threaten social relationships, the environment, animal welfare and human health (Harrison et al. , 2005).
Low and Davenport (2006) recount how FT started as a alternative way of commercialisation but nowadays, when large retail chains are the main channels for these products, it can be characterised as an assimilation discourse. FT is not a lifestyle anymore, but a branding which competes against other leading brands.
The high income Northern consumer is reaching a point of saturation regarding product choice, especially if the product in question is of high value. Thus, there is a move in the market towards goods that provide an emotional connection. The case of FT honey from Brazil that can communicate naturalness, organic production and stories of the people who manage the bees will embody a sense of community that can lower the barriers to market access. Nevertheless, as regulatory frameworks become more entrenched as a means of further defending markets in more industrialised markets, producers will need to meet even more demanding requirements. Simply achieving product differentiation may not be enough. Eventually the consumer will move on and, therefore, product innovation should continue to identify new ways of fulfilling consumer demand.
Global Value Chain.
The discussion will move on to understanding governance, in this case fair-trading governance, and how it has shaped the sector. The global food trade system has shown a growing concentration of buying power in retail channels through the proliferation of sourcing from overseas. This connectivity also depicts that common consumption and production patterns have spread to many different countries. The Global Value Chain [GVC] is a method of analysis focusing on governance structure and institutional framework within global production and the spread of sourcing and manufacturing throughout developing countries. Gereffi (1994) differentiates two types of chain configuration and governance structure: producer driven and buyer driven. The first means chains where large companies (usually transnationals) co-ordinate the whole supply chain and is characterized by capital and technology intensive industries such as automobiles and computers. Here, the main strategy is to attain economies of scale in manufacturing. Traditional examples are automobile companies such as Ford and General Motors. Conversely, buyer-driven chains focus on the domination of retail companies and brand-named merchandisers. These compete intensively against each other by continuing minor innovations to products and packaging, the maintenance of strict quality criteria and price. Traditional examples are UK supermarkets, Nike and Reebok (Dolan & Humphrey, 2000; Gereffi, 1999; Kaplinsky, 2000). These companies are merchandisers that design or market the products that they sell. The key agent, the so called governor , delegates, manages and enforces the production process to ensure that its supply chain really complies. Gereffi (1994) also recognizes that both systems, the buyer and the producer-driven, may be contrasting, but not mutually exclusive. Large companies play the role of the governor, creating and monitoring their own standards. They can be manufacturers holding technological and production information (producer-driven) or retailers or branded companies concentrating on the possession and translation of market information.
Traditionally, the food industry has displayed the characteristics of the producer-driven chain, dominated by large processors such as Nestlé and Heinz. This pattern has been changing due to the concentration of retailing, hence challenging the position of large processors. The governor of the chain, i. e. the one responsible for setting the standards, should have sufficient size and capacity to monitor the standards, whilst the supplier should have the capacity to invest to meet the standards. However, Dolan and Humphrey (2000) showed that processors in developing countries have difficulties in meeting the requirements of UK supermarkets in respect of, for example, food safety, care for the environment and labour. Still, Vieira and Traill (2008), analysing the Brazilian beef chain through a global value chain approach, conclude that there is a gap between practices adopted for the export market and practices to supply markets in developing countries.
Raynolds, Murray and Wilkinson (2007) consider this typology useful to understand FT relationships, which move from market, where price is the main requirement, to tighter relationships, where trust and knowledge transfer may evolve. However, they also state that this system is co-coordinated not only by economic reasoning but also by the role of external agents and institutions.
Market governance suggests a traditional view of price as the main requirement. In modular governance though, codification of information leads to production chain segmentation, with frequent transactions and relative supplier independence. Relational governance involves solidarity and cooperation with more balanced power between parties. Captive governance indicates a more clear co-ordination between processors and retailers, known as quasi-integration. Finally, hierarchy governance focuses on control of the whole process.
As a result of the proposed typology, FT can be then characterised as governed by an external agent: the certification body. To better understand FT in practice it is important to describe the main requirements obtain certification.
In order to integrate the FT international criteria and to adopt a common system of certification, in 1997 Fairtrade Labelling Organizations International [FLO] was founded (FLO, 2009). The FLO is responsible for certifying producers and establishing the FT criterion. It follows international practices accepted by external monitoring and certifies products, giving them a guarantee label. It has social rules associated to technical specifications regarding the production of goods. Furthermore, there are also some environmental rules applied to each product. These rules aim to facilitate the acceptance of products on the international market. Under the FLO's list of certified food products (FLO, 2009) are tropical foodstuffs such as coffee, tea, cocoa, sugar, honey, fruit juices, fresh and dried fruit, bananas, vegetables, herbs and spices, rice, nuts, oils, wine, beer and rum. However, non-food products are also certified and commercialised such as cotton, flowers and sports balls. To produce or manufacture products carrying the FT banner, producers' associations must adhere to the set of standards enforced by the FLO concerning economic, social and environmental directives that follow certain internationally recognised criteria and conventions.
Criteria for Certification.
To produce or manufacture products carrying the FT banner, producers' associations must adhere to a set of standards enforced by FLO concerning economic, social, and environmental directives that follow certain criteria and conventions that have been internationally recognized. These rules should facilitate the acceptance of products internationally. To be eligible for FLO certification, producers' organizations must comply with both general criteria (applicable to any product) and product-specific criteria. For each criterion, there is a minimum requirement for achieving certification. In this sense, fair trading could be characterized as a buyer-driven chain, governed by an external agent, namely, the certification body. Governance is exercised through complex relationships amongst actors, where information is codified and the capabilities constantly verified.
In order to be eligible for the FLO certification, producers' organisations must comply with both general criterion (applicable to any product) as well as specific criterion (per product). Within each criterion there is a minimum requirement in order to the certification to be achieved. Two overarching directives organise the structuring of the criterion regarding the social, economic and environmental dimensions.
Table 1: Criterions.
Related to the development potential that a producer organization can have. As for the minimum requirements, the producer organizations must be able to prove that FT will make a difference to the business. The benefits generated will provide support for the growth of business and will also enhance the livelihood of producers and their families.
It states that members of the organization must be small farmers; consequently, most of the members of producer organizations must be characterized as small farmers.
Related to the organization, that it should be democratic, participatory and transparent. The minimum requirements establish that members must control the structure of the organization. The gathering of members at an annual general assembly should be the supreme forum for decision making. During assemblies, a report of the activities and the annual accounts must be approved by all members.
Related to non-discrimination, meaning that no person can be denied participation.
About the FT price premium. The organization should be able to manage the FT premium to the producers' benefit in a transparent way.
Related to export capacity; therefore, the organization needs to possess some physical assets and be qualified to export. The minimum requirement to engage in exporting is a volume of 20 tons or the equivalent of one container load. The organization should have access to a telephone line, the Internet and a computer system and evidence of good administrative skills. The products traded must meet the current export quality standards, thus demonstrating that the organization has the ability to export successfully directly or, if necessary, indirectly through a partner. The contract established between seller and buyer must also provide a clear indication that the transaction is FT certified.
Related to economic growth. One of FT's purposes is to increase the capacity of small farmers to work in groups, aiming at the export market. Producers must develop their skills and capacities so as not to depend on other people who could behave opportunistically.
Related to the environment and the way resources are managed, such as water, natural forests and other areas in the vicinity of the farm activity. The environment must be protected, including control against erosion and waste management. Environmental monitoring guidelines must be applied.
Therefore, this set of certification criteria implies the guarantee to consumers that by buying a FT certified product they will benefit the whole supply chain. Based on this set of criteria, a questionnaire was drawn up and used for collecting data as part of a research project on small honey producers in Brazil. Against this set of criteria the subsequent analysis was carried out.
The framework results from the literature reviewed in the previous sections. It shows the division of production and consumption, as proposed by value chains. It also highlights the role of the certification body FLO-CERT setting the standards to get access to the FT market and also linking the distinguished agents of the global value chain.
This research integrates different methodologies to study the honey chain and FT system. Paul (2005) identifies FT as a development project and suggests an integrated approach to evaluate its results when already established. Humphrey and Napier (2005) propose GVC as a tool to assess the impact of standards on supply chains in developing countries. They also use qualitative (maps, case studies) and quantitative techniques (measures, statistics). We used different qualitative methods in our research as detailed below:
1 st step - Secondary data collection - it aimed to improve the description of the honey chain structure and market data.
2 nd step - Participatory observation at meetings, seminars and events from the sector - This step involved the participatory observation in monthly meetings of a development project promoted by SEBRAE (federal institution responsible for the development of small and medium sizes business in Brazil). Participants at these meetings are the main leaders and representatives from institutions interested in honey production. The participatory observation is a research strategy that gives the researcher familiarity with the observed group and its practices. In this case, the researchers act not only as listeners, but mainly mapping the chain, which was one of the aims of the study.
3 rd step - In-depth interviews with experts - this was done in 2005, with interviews lasting around 3 hours with main leaders of honey production associations. The main goal was to obtain information to map the honey chain. We also interviewed two experts in Fair Trade certification, to go deeper in the knowledge about the aspects involved in the certification process. One of them works at FLO - CERT. The other interviewee is a specialist in Fair Trade who has worked as an inspector and liaison officer at FLO from Brazil and nowadays he is a Transfair consultant. These two interviews took place in Sao Paulo and lasted 4 hours, following a guideline with open questions to be able to have a better understanding of the FT system.
4 th step - Discussion of the honey chain map - this took place in 2006 with the participation of two technicians from the Brazilian Rural Assistance Institution as well as the leaders of the honey production association.
5 th step - Presentation of the honey chain map - we organized two workshops to present the map to the experts. The fist meeting involved technicians and honey producers and was held in May 2006. The second workshop was held in June 2006 for an academic public interested in agribusiness and agri-food chains research at the University of Rio Grande do Sul. These workshops aimed to improve the chain design.
6 th step - Transaction and Governance Analysis - in this step, we used the data collected in the previous steps to describe and analyse the transactions and governance involved in the different agents of the honey chain.
7 th step - Selection of the region of the applied study - after analysing all the data gathered, we defined the region of Osorio to be the location to carry out the fieldwork. This region was chosen due to a number of economic, social and environmental features which represent a good potential to frame the criteria to FT projects.
8 th step - Fieldwork - We conducted an appraisal about the existing bee-keeper associations in the 22 cities from the region of Osorio.
9 th step - Case studies through semi-structured interviews with bee-keepers from associations and direct observation. We used a questionnaire based on the FLO criteria for semi-structured interviews with the presidents of six associations found in the studied region and four interviews with the affiliated producers to these associations to validate some information. These interviews lasted around 2 hours each. The questionnaires had 81 questions divided into six groups: descriptive data, production features, financial issues, social issues, commercialization and distribution. Each group of questions aimed to analyse each association according to the FLO criteria. In the first group, a general description of the association was given, verifying whether this association was qualified to export, in to addition, details such as organizational structure and members' participation in decision making, among others. In the second group, production features, questions were asked regarding the number of beehives and total honey produced per year. In this same group, questions focusing on organic certification, quality control and lab tests were asked. In the infrastructure group of questions, an assessment was made of the facilities for honey processing, which has a number of technical specificities and is needed to obtain export qualification. The next group of questions aimed to focus on financial issues such as loans, debts, resources to invest in FT certification, among others. The last group of questions focused on social issues and sought to describe how the honey producers lived, their annual income, if they performed other economic activities and the share of this activity in the family income, the role of women and work.
10 th step - Data organisation and analysis - analysis of all the previous steps of the research, making possible the identification of those associations that could meet the criteria for Fair Trade certification.
The main results of these multiple methods are summarised in the next section.
SMAL HONEY PRODUCERS IN BRAZIL.
This section presents the honey chain and the case studies.
The fieldwork research was carried out in the region of Osório between November and December, 2006. The region of study is located in the east of the Rio Grande do Sul State, 100 km from the state's capital, Porto Alegre and its metropolitan district. In total, there are twenty-two towns in the region, most of them along the northern Atlantic coast of the state. Six honey associations were researched, including a total of 128 bee-keepers, who produce around 390 tonnes of honey per year. Other honey producers not organised into associations also work in this region, but as they do not fulfil the association membership requirement, they were not included in the scope of this study.
From Figure 2 it is possible to identify the main segments that integrate the chain, dedicated to honey production, which are:
. Inputs relating to the production of honey, such as the acquisition of the boxes to house the hives, wax matrix so that the bees can start producing honey, safety equipments (overalls, gloves, masks, boots, fumigator), bee swarms, queens and the area where the beehives are located.
. Production relates to the production carried out by the bee-keeper from the apiary installation to the handling of the hives and the harvesting of honeycombs and their transport to the Honey House.
. Agri-industrialization refers to activities in the Honey House such as centrifugation, filtering, decantation for 48 hours, stocking, classifying, packaging and labelling.
. Commercialisation relates to when the honey is commercialised and it consists of two basic forms. One is when the sale is done by the bee-keeper himself in farmers' markets or by distributing to grocery stores, stands, bakeries and other small retailers. The other is in bulk quantity, where the honey is usually packaged in containers of 50, 100, 200 and 300 litters for export. This type of sale is normally conducted through larger companies, which have sales warehouses, or specialized companies that can offer the product on a large scale.
In order to ascertain whether the six associations would attend the criteria to obtain the FLO certification, the authors used semi-structured interviews. The FLO criterion was instrumental in guiding the questions to be asked. Direct observation was also carried out to verify the veracity of some responses.
Table 2 shows a summary of the assessment, with the six associations according to FLO criteria.
Our findings show that the most difficult criterion to meet regarding these honey associations has to do with export capacity. This is partially because these honey producers have not even been certified by the Brazilian Ministry of Agriculture to trade either inter-state or to export. This was one of the main problems faced by the bee-keepers who were interviewed. In terms of structure, there is a lack of resources to build honey processing installations as well as to purchase the necessary equipment. Some bee-keepers also take part in other economic activities to generate enough savings to revert to the business, since access to credit to invest in infra-structure is made difficult.
Criterion 8 refers to the preservation of the environment, which is only partially met by all six associations. Despite these associations not using agrochemicals, there is no formal control regarding environmental practices, such as an Internal Control System [ICS]. Regarding the discrimination criterion, this was not observed. Therefore, there was no overt perception of any prejudice, be it racial, religious or of gender. This criterion, although not considered a problem in the region studied, is important when operating in fair-trading networks to ascertain that no such issues could be raised when it came to the honey being accepted on the international market. FLO, by acting globally, is concerned about discrimination issues in many countries. For the criterion of economic development, we tried to verify the partners' socio-economic condition, as well as the association's infra-structure and its level of commitment towards the certification and the activity. We could see that apiculture is an activity used to complement the family's income and sometimes beekeeping a hobby. Hence, criteria 3 and 5 relating to the decision-making process within the associations indicate that both genders were well represented through an electoral ballot. Exceptions to such a good practice could be attributed to a couple of associations that had just been set up.
Overall, if the criteria as defined by FLO to qualify associations for FT certification were followed, three of the studied associations could obtain FT certification provided some adjustments were made. In the case of deciding to obtain the FT certification, these associations would have a product with high specificity which end consumers could perceive as dedicated assets, not only related to the social attributes involved in the production, but also to product quality attributes. As a result of being subject to adhering to FT certification criteria, certified honey implies a system with a specific governance structure, with this certification being the main driver of governance. Being certified would require a change in the way transactions take place throughout the chain. For example, as shown in Figure 3, regarding the transactions between bee-keepers and importers, the latter buy honey from a producer, and they are responsible for the payment of the minimum price and premium. They can also give assistance to producers: (a) by advising them and supporting them technically in product development; (b) making training available; (c) supporting them in social and economic difficulties; and (d) financing the early stages of production or the harvest. The complexity of the standards and, in consequence, the need to monitor and assure compliance requires tight governance. This governance would be exercised by FLO instead of an internal agent as proposed by the GVC. Transactions between the retailer and the final consumer use certification as an instrument which guarantees the consumer that a certain product has the desired social, environmental and quality attributes. The assets have high specificity and FLO is in charge of organising and transferring technical and marketing knowledge from the consumer market to producers located in developing countries.
However, it could be argued that perhaps small honey producers in Brazil need not go to these lengths to obtain fair-trade certification provided they produce top quality products. So far, ethical demand for fair-trading products has sustained a growing market.
As mentioned above, the internationalisation or, perhaps more accurately, the globalisation of fair-trade supply chains is a recent fact that still requires more studies with regard to the implications it might have for producers, intermediaries and consumers. It would not be wrong to infer that FT appeared as a message for inclusion (Low & Davenport, 2006) but there are barriers for small producers, such as the honey associations studied, to overcome.
This study brings theoretical and managerial implications. The latter, as the study proposes, at the end of such a process, means that the fair-trade system as a whole reinforces what the Global Value Chain analysis typifies as the buyer-driven chain or, at least, a tighter relationship such as the captive one (Gereffi, Humphrey, & Sturgeon, 2005). Fair-trade marketing is moving towards becoming dominated by large food retail formats carrying branded fair-trade merchandise, which is considered by Low and Davenport (2006) as an assimilation process. In parallel, Audebrand and Iacobus (2008) highlight the role for marketers involved in FT activities not to reduce FT to a mere commodity. FLO, as the chain governor, is more involved in monitoring compliance to the standards, brand building and product positioning (similar to the athlete shoes and apparel examples provide by Gereffi, 1999).
As for managerial and public policy implications, in the associations studied, we could not identify any capacity for the honey associations to play this role without assistance. This exploratory research identified some difficulties in the honey associations under study to meet criteria such as export capacity and organization capacity. Honey producers need to obtain a license from the Ministry of Agriculture to be able to export. For the small associations studied, the Ministry requires some facilities known as Honey House with a number of high costs technical specifications. This is considered as a barrier to access to more sophisticated markets, restricting their production and leaving these small producers to clandestine markets. The other criterion, organizational capacity, is also difficult to comply with since many producers also perform other agricultural activities. This does not motivate the producers to develop the association in terms of both quality and quantity.
These two items seem to be the main obstacles to bee-keepers being included in the FT system and are related to the capability of suppliers as proposed by Gereffi et al. (2005). The codification of information and complexity of transactions is transferred by FLO, which intermediates the relationship between the buyer and the seller. For public policies, there is an important way for institutions such as SEBRAE, APEX, and Ministry of Agrarian Development, to help and train these small producers to overcome these limitations to access export markets. On the other hand, this study identifies that managers interested in investing in FT certification should be aware that there is a risk of becoming overspecialised in a brand which is still not recognized by Brazilian consumers.
We highlight that this study reinforces the recent changes in the relationships between buyers and producers connected to international trade. The agri-food globalisation chain shows the division of productive activities in different places. Recently, the FT commerce has been developing and providing market access to agricultural products from small producers located in different developing countries. It also has the possibility of going mainstream, using the existing much wider distribution channels of large retailers. Since 2007, there has also been a trend in mergers and acquisitions in which large players are becoming involved with the fast-growing ethical market, for example L'Oreal acquired Body Shop and Cadbury's Schweppes bought Green & Black's.
The adoption of FT certification allows small producers to gain access to international market and to add value to their products. Nevertheless this study points out that certification has its entry barriers represented by the formalization of associations between producers, export capacity and the costs of certification, among others. However, as pointed out by Raynolds et al. (2007), non-economic factors also influence the shape of the FT system and future research should also investigate the role of social networks, public policies in developing countries and other aspects.
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Received 16 January 2008; received in revised form 10 June 2009.
* Corresponding author: Luciana Marques Vieira. PPG em Administração UNISINOS, Av. Unisinos, 950, São Leopoldo, RS, 93022-000, Brazil.
All the contents of this journal, except where otherwise noted, is licensed under a Creative Commons Attribution License.
Banco do Estado do Rio Grande do Sul SA (BRSR6) Jumps 1.61% on Nov 17.
November 17, 2017 - By Clifton Ray.
Shares of Banco do Estado do Rio Grande do Sul SA (BVMF:BRSR6) last traded at 14.52, representing a move of 1.61%, or 0.23 per share, on volume of 84,800 shares. After opening the trading day at 14.19, shares of Banco do Estado do Rio Grande do Sul SA traded in a close range. Banco do Estado do Rio Grande do Sul SA currently has a total float of 200.40M shares and on average sees 1.17M shares exchange hands each day. The stock now has a 52-week low of 9.8 and high of 19.49.
Ibovespa: A Witness to Brazilian Economy’s Success.
Unknown to the knowledge of many, Brazil is one of today’s fastest-growing economies and the reason behind it is a successfully emerging trade and commerce industry. Needless to say, it is a true pride of the South American economy. Brazil gives chances to a lot of big companies as Banco do Estado do Rio Grande do Sul SA to receive new clients.
Brazilian Mercantile and Futures (BM&F) Bovespa.
The BM&F Bovespa is the main stock exchange in Brazil. Founded on August 23, 1890 as a public entity, it had long been under the strict supervision of the government. By the late 1960s, the government had loosened its grip on the BM&F Bovespa.
In 1972, electronic trading had finally been implemented to make things easier for brokers and investors alike. By the end of the decade, the Sistema Privado de Operacões por Telefone (SPOT) or the Private System of Telephone Trading, a telephone trading system, had been introduced.
The Mega Bolsa, an electronic trading system, had replaced the old one in 1997. Two years later, the Home Broker, an internet-based trading system that enabled individual investors to trade from home online, had been launched.
The BM&F Bovespa had finally been privatized as a profit entity in 2007. It officially became the BM&F Bovespa when the BM&F Exchange and the Bovespa had merged on May 8, 2008 to create a bigger and consolidated stock exchange in Brazil. Banco do Estado do Rio Grande do Sul SA became one of the active participants of the trading system.
On August 17, 2011, the BM&F Bovespa had recorded its largest daily trading volume of $14.80 billion. On June 18, 2012, it had become one of the founding members of the Sustainable Stock Exchange initiative of the United Nations (UN). As of December 2015, more than 450 companies are listed on the BM&F Bovespa.
Ibovespa Brasil Sao Paulo Stock Exchange Index.
The Ibovespa is the benchmark index in Brazil that weighs the top 50 companies listed on the BM&F Bovespa as a market-capitalization-weighted index.
Consequently, it represents roughly 70% of the total market capitalization on the BM&F Bovespa. Founded in 1968, it is also the oldest index measuring BM&F Bovespa companies.
Rebalancing of the Ibovespa happens quarterly to ensure its efficient representation of the trade and commerce environment in Brazil. In order for a company to become eligible for inclusion as an Ibovespa component, it must have been listed and traded on the BM&F Bovespa for not less than a calendar year prior to a particular rebalancing period. Also, more than 80% of its shares must be traded on the BM&F Bovespa to guarantee compelling activity.
The Ibovespa uses a base value of 100 points, which has a base date of January 2, 1968.
The Ibovespa had hit its all-time low of 0 in January 1972. On May 20, 2008, it had hit its all-time high of 73,516 points, which was primarily driven by a positive inflation outlook that caused major industries to surge. Nine days later, the Ibovespa had an intraday high of 73,920 points.
Investors must take advantage of the growth of the South American economy by investing on BM&F Bovespa stocks, especially if they are looking for meaningful long-term returns. Investors turn their attention to the Banco do Estado do Rio Grande do Sul SA equities.
More notable recent Banco do Estado do Rio Grande do Sul SA (BVMF:BRSR6) news were published by: Reuters which released: “Rio Grande do Sul state gov’t may sell stake in Brazil’s Banrisul” on October 04, 2017, also Businesswire with their article: “Fitch Takes Various Actions on Financial Institutions Following Brazilian …” published on May 11, 2016, Reuters published: “Deals of the day-Mergers and acquisitions” on October 04, 2017. More interesting news about Banco do Estado do Rio Grande do Sul SA (BVMF:BRSR6) were released by: Moodys and their article: “Moody’s recalibrates Brazil’s national rating scale and repositions national …” published on May 11, 2016 as well as Ft‘s news article titled: “S&P puts 38 Brazilian financial institutions’ ratings on negative watch” with publication date: May 23, 2017.
Banco do Estado do Rio Grande do Sul SA is a Brazil commercial bank that provides personal and corporate banking services. The company has market cap of $8.62 billion.
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