August 5, 2008

 
Brazil seen planting 6.4 percent more soy in 08-09 
 
  
Brazilian farmers are expected to plant 22.5 million hectares of soy in 2008-09, up 6.4 percent compared to 21.2 million hectares in 2007-08, consulting firm AgRural said Monday (August 4).

 

Agrural said Mato Grosso state will increase the area devoted to soy by 4.3 percent to 5.9 million hectares, while Parana will raise the area by 5.5 percent to 4.1 million hectares and Rio Grande do Sul 6.9 percent to 4.1 million hectares. The three are the top soy producer states in Brazil.

 

The planting will start in September. If confirmed, it would be the third largest ever area planted with soy in Brazil after 2005-06 and 2004-05, the report said.

 

AgRural estimates that Brazil should harvest 64.1 million tonnes of soy in 2008-09, up 7.2 percent versus 59.8 million tonnes in 2007-08.

 

Meanwhile, Brazil is expected to produce 63.8 million tonnes of soy in the 2008-09 crop year, up from the 59.6 million tonnes produced in 2007-08, agribusiness consultancy Celeres said.

 

Despite historically high prices, Brazilian soy farmers are restrained from planting more soy by high costs and a lack of available credit, the report said.

     

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