The grain harvest in 2022–2023 will be 313.9 million tons, up 41.4 million tons or 15.2% from 2021–2022, and a new record in the historical series, according to Brazil’s Supply Company (Conab). A more “robust” grain crop this season, in the opinion of FGV Agro analyst Felippe Serigati, may prevent an increase in food prices. “The production of sugarcane and meat is likely to rise as a result of the favorable cycle of livestock, increasing the Gross Domestic Product (GDP) of agribusiness by 8% to 9%, with even more optimistic projections,”. Serigati also said that the dollar index lessens the impact of inflation.
Source: MoneyTimes (*Translated by Ia Niani)