Brazil’s Gross Value of Agricultural Production (GVP) reached BRL 1.189 trillion in 2022, the second-highest figure on a 34-year-long record. The 2022 index was driven by positive results in several markets, agribusiness exports, and agricultural prices. On the other hand, the factor that most harmed the industry’s performance was the long-standing drought season, especially in Southern Brazil and parts of the Midwest, “which resulted in losses to farmers caused by losses in the production of soybeans, corn, and beans.” The products that stood out last year were cotton, coffee, corn, wheat, and milk.“ For 2023, the estimated Gross Value of Agricultural Production is 6.3% higher than for 2022 and could reach BRL 1.263 trillion. As a result, crops should have an actual increase of 8.3% and livestock of 1.9%.
Sources: Agência Brasil/Datamar News