December 10, 2008

Brazil agriculture revenues seen diving 6.9 percent in 2009

Revenue from Brazil's agriculture sector is expected to dive 6.9 percent to 153.3 billion Brazilian reals (US$62.2 billion) in 2009 compared to 2008, Brazil's Ministry of Agriculture said Tuesday (December 9).

The Ministry of Agriculture said the fall is due to lower expected agricultural commodity prices and smaller 2008-09 grain crops. The government calculated the revenues decrease by assessing a batch of 20 products.

The ministry also said that agricultural revenues should reach BRL164.6 billion this year, up 15.9 percent from 2007.

Brazil is the world's No. 1 producer of sugar, coffee, orange juice, chicken as well as the world's No.2 producer of soy.

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