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Soybeans, one of the main products of Brazilian agribusiness, are worth 570 times more than gold production. This “green gold” is transforming Brazil’s economy, surpassing even traditional mining. The country now sees the agricultural sector as its main economic driver, while mining struggles to remain competitive.
In Brazil, a country historically recognized for its vast mineral reserves, a new economic engine has emerged with overwhelming force.
No, we are not talking about gold, but rather an agribusiness product that is now worth an impressive amount 570 times more than gold extraction in the country.
Surprised? Read on to find out what this phenomenon is. and how it is transforming the Brazilian economy.
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According to data from 2023, soy emerges as one of the main pillars of the agricultural sector.
The production of this essential grain reached the mark of $ 348 billion, becoming the largest source of wealth in the Brazilian countryside.
For comparison purposes, gold production in the same period yielded only R $ million 610.
The disparity is clear: the value generated by soybeans is 570 times greater than that generated by gold extraction, according to a survey by the Brazilian Institute of Mining (IBRAM).
The power of soy in Brazil
According to the portal Buy Rural, soy, which completed 100 years in Brazil, has had impressive development over the decades.
Today, the grain is grown in 23 of the 26 Brazilian states, with the Midwest region responding for about 50% of national production.
The impact of this production is felt in municipalities of all sizes, especially in agribusiness cities, such as Smile (MT).
Only this municipality generates wealth equivalent to 120 times the country's entire gold production.
The culture of soybean in Brazil advanced due to investments in technology, research and territorial expansion, becoming a global power.
Our 110 municipalities that produce the most soybeans, the value generated far exceeds all gold production in Brazil.
Gold in decline and agribusiness on the rise
While soybeans advance, gold mining faces challenges. Gold production focuses on states like Mato Grosso, Minas Gerais, Pará, Goias and Amapá e had a drop of 11,9% in dollars in 2023.
Even with its historical importance, gold cannot compete with the economic impact of soybeans, whose numbers are only growing.
Brazilian agribusiness not only surpasses gold in value generated, but also demonstrates continuous growth.
A projection for the next soybean harvest indicates an increase in 4%, further consolidating Brazil's position in the global agricultural export scenario.
The outlook for the future: soy or gold?
Brazil's future seems to be more linked to agribusiness than mining, even with promises of investment in the mineral sector.
It is estimated that US$64,5 billion will be allocated to mining by 2028, focusing on socio-environmental projects and critical minerals.
However, soybeans remain unbeatable. With one growing demand and an increasingly modern agricultural structure, Brazil seems destined to maintain its world leadership position in grain production.
While mining needs to reinvent itself to deal with new challenges, soybeans have already secured their place at the top of the national economy.
Many call this phenomenon “green gold”, and for good reason: grain is more profitable than traditional gold, and its impact on local economies is palpable.
Brazil of green gold
Brazil is experiencing a transformation. Agribusiness, especially soybean production, is now worth 570 times more than gold, and this disparity only increases.
The country, traditionally known for its mineral wealth, sees agribusiness as main engine of economic growth for the next few years.
The challenge now is to continue growing sustainably and consolidate Brazil's role as a world leader in food production, without neglecting the responsibility of preserving its natural resources.
And you, do you believe that agribusiness will continue to surpass mining in the future?
I believe there is a lot of gold smuggling from Brazil. Since our border is huge, there is no way to monitor everything.
Yes...very good business...agribusiness...green gold...cool...lol
That's right, each hectare of soybeans sequesters 10 to 15 tons of CO2...