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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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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.
