• Categories
  • Archives

Smaller Harvest Means US$ 4 Billion Less for Brazil

Brazil’s Minister of Agriculture, Roberto Rodrigues, admitted Friday, June 24, that he expects agricultural exports to be affected by the reduction in this year’s grain harvest.

According to the Brazilian Institute of Geography and Statistics (IBGE), the decrease should amount to 4.98%, compared with last year’s crop. A 20.88% reduction is expected in the Southern region.


“There will be a loss of income for some export items, such as soybeans, although coffee, orange juice, and sugar have experienced price gains, and others, such as meat, have higher production volumes,” the Minister commented.


“My expectation is that agribusiness export volume, in dollars, will be very close to what it was last year; however, with an exchange rate favorable to imports, as it is at present, I believe that imports will increase, so the agribusiness surplus should end up below what it was last year, close to US$ 39 billion,” he pointed out.


According to Rodrigues, the expectation for this year’s grain harvest was 132 million tons, but the National Supply Company (Conab) is forecasting a harvest of around 113 million tons.


“This represents practically US$ 4.1 billion (10 billion reais) less for the Brazilian agricultural economy, which is a cruel blow,” he said.


ABr

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazil: 20% Jobless in São Paulo

Almost 2 million people or 20 percent of the economically active population are without ...

Brazil Forum Discusses High Price to Export, from Infrastructure to Red Tape

The National Foreign Trade Forum (Enaex), a traditional event held by the Brazilian Foreign ...

Brazil’s Largest Producer of Papaya Wants Fruit Taken Out of Exotic List

In the sunny land of EspÀ­rito Santo, in southeastern Brazil, more precisely in Linhares, ...

Feel-Good Sentiment in Brazil Boosts Market

Latin American markets finished mostly higher, led by a surge in Brazil as inflation ...

Brazil has its biggest dollar reserve ever: over US$ 100 billion

With US$ 100 Billion in Reserves Brazil Says It Got Turbulence Vaccine

Brazil's foreign trade reserves have exceeded the US$ 100 billion barrier for the first ...

Anticipating Chemotherapy Effects Lula Goes Bald and Beardless

Luiz Inácio Lula da Silva, the former president of Brazil, famous for his beard ...

Brazil’s Ex-Minister Pans Lula for Bush Bashing and Third World Mentality

Former Brazilian Finance Minister Mailson da Nóbrega says President Luiz Inácio Lula da Silva ...

Drought Makes Brazilians Think Twice About Planting GM Soy

Drought in Brazil has caused a severe 72% drop in soybean yields in the ...

Brazil Injects US$ 7 Billion in Economy to Prevent US Contagion

Brazilian monetary authorities eased rules on reserve requirements that banks must keep at the ...

In Brazil, Monsanto and Syngenta Lead Farm Model that Destroys Indians and Environment

The approval of Brazil's Provisionary Measure 422 (Medida Provisória (MP) 422) by the Brazilian ...