Gross Value of Agricultural Production in 2023 is estimated at BRL 1.216 trillion

Analyst Luiz Fernando Gutierrez Roque, from Safras & Mercado, explained that the reaction of the Brazilian crop boosted this number. “This expected increase is basically due to the recovery in soybean and corn production, mainly this season. Last year we had problems, mainly with soybeans, last year we had a very big drop in production due to the La Niña phenomenon, which broke crops in the entire southern region and part of Mato Grosso do Sul as well, and this year we are harvesting very well” , explained about the increase in farming.

Crops have a revenue forecast of R$ 868.96 billion, the highest VBP since 1989. The real growth of the GPV of crops is 8% compared to 2022. Livestock has a forecast revenue of R$ 347.9 billion , which represents a decrease of 2.6% compared to last year.

Sugarcane, beans, oranges, corn, soybeans and tomatoes should present record revenues this year. Among these, corn, soy and sugar cane, which represent 72.8% of the gross production value of crops.

Analyst Luiz Fernando points out that corn and soybeans, in particular, have extremely optimistic forecasts this year. “We are harvesting a record harvest in Brazil, and mainly this record soybean harvest is what has driven the increase in the gross value of agricultural production, agriculture and livestock. And this recovery in production is what explains it. And we also have the expectation of harvesting a record corn crop”, he pointed out.

Livestock is favorable for pigs, eggs and milk, whose prices are on the rise. On the other hand, beef and chicken have shown a retraction in the gross production value this year.