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An Increase in Revenue for the Agricultural Sector of 13.7% is Expected Compared to Last Year, Due to Rising Food Prices, High Chinese Demand, and Currency Exchange
The agricultural sector is expected to reach a total revenue of R$ 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 generate this projection of growth, known as Gross Value of Production (VBP), 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 revenue, referred to as “inside the gate” – which is related to production – will contribute to the agribusiness sector, increasing its participation in GDP by 3.5%. While the sector increases its share of GDP, economists from the Federal Government foresee a 4.7% drop in Brazilian GDP in 2020, due to the Covid-19 pandemic, which slowed the Brazilian economy.
The Confederation of Agriculture and Livestock of Brazil expects an 18% increase in farmers’ income, with a total revenue of R$ 531.6 billion. This increase will be strongly influenced by soybeans, which will see a revenue growth of 23.8% this year, with a 4.3% increase in production and 18.7% in prices. In addition to soybeans, rice, arabica coffee, and wheat will have respective expansions of 33.9%, 51%, and 59% of VBP.
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While Russia dominates the global wheat market, Brazil emerges as an unexpected competitor in the Cerrado, offering grain available in July and August when stocks in the Northern Hemisphere are at their lowest point of the year.
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China returned almost 20 Brazilian ships with soybeans, but now everything could change: the country that buys 80% of the grain is considering relaxing regulations after impurities held up shipments of thousands of tons and caused million-dollar losses.
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Chinese giant worth nearly R$ 4 billion that manufactures cables for electric cars, solar energy, and robotics wants to open a factory in SC.
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Many employers do not know, but the law guarantees domestic workers a 25% increase in salary during trips, 50% for overtime, 20% for night shifts, and 17 additional benefits that can lead to labor lawsuits if not paid.
The Gross Value of Production of livestock is expected to grow by 6.6%, reaching a revenue of R$ 291.7 billion. According to the confederation, the production and price increase of eggs, pigs, and cattle are expected to ensure an increase of around R$ 17.9 billion in livestock revenue “within the gate.”
Despite the positive results that livestock has achieved, gross revenue from chicken and dairy activities is expected to decline by 3.7% and 4.3%, respectively.
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