April 5, 2012

Brazil may plant 26 million hectares soy crop

In the next crop, Brazilian farmers will likely plant at least 26.2 million hectares with soy, up 1.1 million hectares from the current 2011-12 crop, closely watched forecaster Agroconsult said Tuesday (Apr 3).

The acreage would be a record for Brazil, the world's No. two producer of soy.

Agroconsult director Andre Pessoa said soy planting is expanding rapidly in the northern and north-eastern states of Maranhao, Tocantins, Piaui and Bahia. Brazil's top soy-growing state of Mato Grosso continues to expand its planted acreage as soy farmers move onto degraded pasture land.

The expected increase in planting bodes well for a possible recovery in the South American country's soy crop. Brazil harvested a record 75.3 million tonnes of soy in its 2010-11 crop year, with 24.2 million hectares planted.

Agroconsult expects farmers to harvest only 65.2 million tonnes this year due to a severe drought in southern states.