Behind the Judicial Protection of a Chinese-Controlled Brazilian Agricultural Enterprise: Industry Crisis and Breakthrough Attempts

On October 10, 2024, a preventive measure issued by the Londrina Court in northern Paraná, Brazil, brought Belagrícola, a major Brazilian agricultural input distributor controlled by the Chinese-owned Pengdu Group, into the public spotlight. This enterprise, which boasts 52 retail branches and controls a storage capacity of 1.5 million tons, was granted 60 days of judicial protection, suspending payments to creditors and grain pricing agreements with farmers. This move is not a sign of the enterprise's collapse, but an emergency response amid an industry-wide systemic crisis. It not only reflects the deep-seated predicaments of Brazil's agricultural input distribution industry but also demonstrates the enterprise's attempts to break through by leveraging its asset advantages.