Agricultural Sector Expected To Generate 13.7% More Revenue Than 2019 Due To Chinese Demand And Exchange Rate

Written by Roberta Souza

Published on 17/09/2020 at 15:57

Foto: reprodução

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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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Agricultural Sector Expected To Generate 13.7% More Revenue Than 2019 Due To Chinese Demand And Exchange Rate

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

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Agricultural Sector Expected To Generate 13.7% More Revenue Than 2019 Due To Chinese Demand And Exchange Rate

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

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