According to CNA (Confederation of Agriculture and Livestock), Brazil’s agricultural GDP (Gross Domestic Product) is expected to grow by 2.5% in 2023 compared to 2022, when the soy crop failure and rising costs influenced the results. CNA now estimates a recovery when compared to 2022, which is likely to be closed with a 4.1% GDP fall, after registering records in 2020 and 2021. CNA says, however, that 2023 will be “a challenging year, both internally and externally, with a lower profit margin”, with a reduction in revenue for rural producers and an increase in production costs.
Source: Forbes Brasil (*Translated by Ia Niani)