The Institute of Applied Economic Research (Ipea) announced last Friday that the GDP of the Brazilian agricultural sector would increase by 11.6% this year after declining by 1.7% in 2022. The figures were kept in line with the prior prediction because the soybean crop recovered from 2022. In 2023, the added value of the vegetable sector will likely rise 14.2 percent, while livestock production should rise 0.8%. This rise is primarily attributable to a recovery in the soybean crop from 2022
Source: Reuters (*Translated by Ia Niani)