Agribusiness in Brazil is booming. In the second quarter of 2021, the GDP agribusiness increased by 9.81%, according to Cepea (Center for Advanced Studies in Applied Economics), from Esalq/USP, in partnership with the CNA (Confederation of Agriculture and Livestock of Brazil). Considering the performance of the agricultural sector so far, the share of total GDP should remain around 30% in 2021. According to researchers from Cepea, this is due to the results from the agricultural sector, given that livestock production declined in the first half of 2021. The GDP of the agricultural sector grew by 14.46% in the first six months of 2021, with important increases for all sectors. Cepea researchers indicate that agriculture continues to play an important role, with the excellent GDP result driven by high prices. However, some factors have limited GDP growth, such as the rising input costs, and the fall in production due to the unfavorable climate.
Source: Jornal Cana (*Translated by Ia Niani)