April 29, 2024

Brazil's animal feed production expected to reach 88.3 million metric tonnes in 2024

Brazilian industry group Sindiracoes projected that Brazil would produce 88.3 million metric tonnes of animal feed in 2024, marking a 2.4% increase from the previous year, Reuters reported.

This figure falls slightly below the earlier expectation of 89 million tonnes.

According to Sindiracoes, this revised estimate factors in optimistic forecasts for Brazil's poultry and pork sectors, which are anticipated to benefit from robust exports this year. Additionally, a decline in local grain output influenced the projection.

Approximately 60% of animal feed in Brazil is derived from corn, while soymeal contributes around 21%, according to Sindiracoes data. As a major global supplier of grains and meat, Brazil's agricultural performance significantly impacts international markets.

Adverse weather conditions in key growing regions are expected to reduce corn and soybean output in Brazil this year. However, Sindiracoes remains confident that the grain supply will be adequate to fulfil both domestic needs and export demands.

In 2023, Brazil produced 86.2 million tonnes of animal feed, representing a 1% increase from the previous year. Nonetheless, this figure also fell short of the December estimate of approximately 87 million tonnes, as reported by Sindiracoes.

-      Reuters