According to the Confederation of Agriculture and Livestock of Brazil (CNA), the GDP will decline by 2.2% from 2023 to 2024, reaching BRL 1.24 trillion. This figure displays the gross income of rural businesses by considering average pricing as well as crop and animal output. The output and prices of soybeans, which make up 37.5% of the agricultural GVP, will decline by 16.4%. With a share of 14.2%, corn also had a 19.6% decline. The GVP increased by 5.4% for sugarcane, the third-largest crop. A 3.7% decline is anticipated for agriculture (BRL 846 billion).
Source: Jornal Cana (*Translated by Ia Niani)
SUGARCANE STANDS OUT IN GDP PROJECTIONS
Published On - 24 de October de 2024