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The Ministry of Agriculture Estimates That in 2021, the Agricultural Sector Will Reach 1.025 Trillion in Production, With Good Performance in Crops and Meats
The Ministry of Agriculture released the estimate of the Gross Value of Agricultural Production (VBP) of Brazil, which may for the first time reach R$ 1 trillion. It is projected that the revenue from soybeans will be R$ 328.6 billion; for corn, R$ 112.8 billion; and for beef, another R$ 139.9 billion.
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In a statement, the Ministry of Agriculture says that “Corn and soybeans continue to show growth. In addition to these, cocoa, rice, wheat, beef, and pork.”
Of the 21 crops that were part of the survey, it is expected that the value will reach R$ 707.77 billion in 2021, 18.2% more compared to 2020 (which compared to 2019 was 19.2% higher).
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From the perspective of grains, a record harvest is already expected with significant external demand. The meat sector may reach record production values due to high demand from China.
With many positive values, the projection still shows some crops that may suffer declines in production, as is expected for cotton, orange, coffee, and sugarcane, which may respectively fall by 4.1%, 2.8%, 5.8%, and 3%.
José Garcia Gasques, general coordinator of Policy Assessment and Information at the ministry, said that “The international market appears to be attractive due to the favorable exchange rate and the growth of global demand for agricultural products.”
The Ministry of Agriculture also estimated the Gross Value of Agricultural Production for 2020 at R$ 885.8 billion, an increase of 15.1% compared to the previous year. Crops had a value increase of 19.2% and livestock 7.3%.
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