September 17, 2012

Brazil's crop production exceeds previous record highs

Calculated from harvest surveys conducted in August, Brazil's total crop production value is estimated at US$222.7 billion, exceeding previous records, and the largest value recorded since 1997.

According to the coordinator of the Office of Strategic Planning (EGM) of the Ministry of Agriculture, Livestock and Supply (MAPA), José Garcia Gasques, three major factors influenced the results; droughts in Brazil in the South and Northeast, droughts in the US and major expansion of corn production in Brazil.

"These factors have affected agricultural prices, especially corn and soy, and also the production, which suffered sharp falls in some foods such as soy, corn and beans," explained Gasques.

Among the best performing products in this period were cotton (37.1%), corn (28.4%), soy (16.4%) and beans (9.4%).

The value of regional production also showed increases, compared to 2011, in the Midwest (26.8%), the Northeast (19.8%) and North (5.7%).

According to Gasques, the data shows that this year the results of soy and corn benefited most states that planted these products in 2012.