Mato Grosso: Agribusiness is responsible for 21.36% of the state’s GDP

Agribusiness in Mato Grosso is responsible for 21.36% of the State’s Gross Domestic Product (GDP) and accounts for 18.2% of the Gross Value of Production (GVP). For 2023, the State Secretariat for Economic Development (Sedec) predicts that corn and soy crops will be the main drivers of agricultural income.

According to Sedec, soy leads agricultural production, representing 50% of production in 2021 and yielding approximately R$ 97 billion. Corn corresponds to 20% of production and generated around R$ 25 billion. Cattle farming represents 13% of the state’s production and also generates an annual turnover of approximately R$ 25 billion

Cotton cultivation represents 10% of the agricultural total and generated almost BRL 19 billion in 2021. The other products correspond to 7% of the VBP, generating more than BRL 12 billion in the same year. Sedec estimates that for 2023, production will be 3.3% lower compared to last year in Mato Grosso, when the VBP was R$ 210.8 billion.

Fernando Iglesias, consultant for Safras e Mercados, believes that agribusiness for Mato Grosso is vital, as it is a champion in direct and indirect job creation. “So basically they have a phenomenal performance with these commodities, generating income, revenue, it’s something fantastic, of course, this year in particular, the average yields in Mato Grosso are fantastic”, he comments.

In the 2021/2022 harvest, agricultural production in Mato Grosso was 87.3 million tons of grain. The highlights are soybean production, which generated BRL 104.53 billion, BRL 44.39 billion from corn, and BRL 24.89 billion from livestock. The state has 34 million head of cattle and is the largest cattle herd in the country.

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