Brazil Projects Lower Grain Production For 2024
Date
5/15/2024 5:00:08 AM
(MENAFN- The Rio Times) Brazil, one of the world's largest grain producers, forecasts a grain production of 299.6 million tons for 2024.
This represents a 5.0% decrease from 2023's 315.4 million tons. The Brazilian Institute of Geography and Statistics (IBGE) provided this estimate.
The cultivated area for cereals, legumes, and oilseeds is estimated at 77.9 million hectares, similar to 2023.
Rice, maize, and soybeans will account for 91.6% of total production and 87.0% of the harvested area.
Experts expect soybean production to reach 148.3 million tons, marking a 2.4% decline from 2023.
Maize production will fall to 115.8 million tons, an 11.7% decrease. However, rice production is set to increase by 2.0%, reaching 10.5 million tons.
Experts forecast wheat production to grow by 27%, reaching 9.8 million tons. They also expect sorghum production to decrease by 6.8%, reaching 4 million tons.
Brazil Projects Lower Grain Production for 2024. (Photo Internet reproduction)Several factors contribute to these projections.
Excessive rainfall in the South and droughts in the North have affected planting schedules and yields.
These climatic conditions, influenced by the El Niño phenomenon, have particularly impacted soybean and maize yields.
Estimates show soybean production at 150.4 million tons, reflecting a 1.0% decline from 2023, despite an increase in the planted area.
Maize production, expected at 117.7 million tons, reflects a 10.2% decrease from the previous year.
The anticipated rise in rice production is due to favorable water conditions in the South, essential for irrigation.
Additionally, higher rice prices have encouraged farmers to expand their planting areas.
Brazil Projects Lower Grain Production for 2024
Brazil's grain production forecast for 2024 reflects the ongoing challenges posed by climate conditions and market dynamics.
These projections emphasize the need for strategic planning and adaptation to maintain the country's pivotal role in the global agricultural market.
The government's efforts to address these challenges will be crucial in stabilizing production and ensuring food security.
Overall, the agricultural sector must navigate these complexities to sustain Brazil's position as a leading grain producer.
Adaptation and resilience will be key to overcoming these hurdles and securing future growth.
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