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Corn planting gains pace in Mato Grosso and reaches 80% of the projected area

Written by Paulo Nogueira
Published 25/02/2020 às 07:34
Corn Mato Grosso Exports Brazil Economy
Bulk ship for transporting corn from Mato Grosso

Mato Grosso is the largest corn producer in Brazil and accounts for more than 50% of the country's corn exports due to the demand for animal protein

O Corn planting in Brazil's Mato Grosso accelerated last week, with sowing completed at 79,6% of the projected harvest area, above the five-year average of 72,6%, said the Mato-Grossense Institute of Agricultural Economics.

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Last year, corn planting in the state stood at 86,6% on February 21, largely due to the rains that accelerated the soybean harvest and corn sowing. Mato Grosso is the largest corn producer in Brazil and accounts for more than 50% of the country's corn exports, which is an important factor for the economy.

Brazil has two corn crops, one planted between September and December and the second between February and March.

The second corn production in the state is estimated at 32,44 million tons for 2019-20, up 0,6% year-on-year, with the projected area at 5,1 million hectares, an increase of 5 % compared to the previous year, predicts the institute.

While sowing is progressing apace, Mato Grosso farmers have already sold 64,4% of the projected second corn crop so far, compared with 46,5% at the same time last year, according to the institute.

Strong demand from the animal protein and ethanol industries has boosted corn prices in recent months, encouraging farmers to sell their crops.

On Friday, average weekly corn prices in the state were at 38,36 reais (US$8,74) / 60 kg, up 75% year-on-year, according to the institute.

The institute also stated that the operating cost of corn production is BRL 2.720,9 per hectare in the 2020-2021 crop, higher than the crop cost of BRL 2.700,67 per hectare.

This would mean that at an average price of 21,50/60 kg (US$4,9/60 kg) producers in Mato Grosso would be able to cover their operating costs, the report said.

Paulo Nogueira

With a technical background, I worked in the offshore oil and gas market for a few years. Today, my team and I are dedicated to bringing information from the Brazilian energy sector and the world, always with credible and up-to-date sources.

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