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A 13,7% increase in revenues in the agricultural sector is expected compared to last year, due to increases in food prices, high Chinese demand and the exchange rate
The agricultural sector should reach a total turnover of BRL 823,3 billion, an increase of 13,7% compared to 2019. This estimate was generated by the Confederation of Agriculture and Livestock of Brazil - CNA. To have this high projection, called Gross Production Value (GPV), the main factors analyzed were: increases in food prices, high Chinese demand and the appreciation of the real against the dollar – exchange rate.
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The increase in this so-called “inward gate” revenue – which is related to production – will contribute to the agribusiness sector, increasing its share of GDP by 3,5%. While the sector increases its share in GDP, Federal Government economists predict a 4,7% drop in Brazilian GDP in 2020, due to the Covid-19 pandemic, which slowed down the Brazilian economy.
The Confederation of Agriculture and Livestock of Brazil expects an increase in farmers' income of 18%, with a total turnover of R$ 531,6 billion. This increase will be strongly influenced by soybeans, which will have revenues of 23,8% this year, with an increase of 4,3% in production and 18,7% in prices. In addition to soy, rice, arabica coffee and wheat, which will have a respective expansion of 33,9%, 51% and 59% of the VBP.
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The Gross Value of Livestock Production should grow 6,6%, reaching revenues of R$ 291,7 billion. According to the confederation, the production and price increase of eggs, pigs and cattle should guarantee an increase of around 17,9 billion reais in livestock revenues “within the gate”.
Despite the positive result that livestock had, gross revenue from chicken and milk activities should show a drop of 3,7% and 4,3%.
