09/28/2024 – 10:01
The Gross Value of Agricultural Production (VBP) is expected to fall 3.2% this year, reaching R$ 1.239 trillion, estimates the Brazilian Confederation of Agriculture and Livestock (CNA). In 2023, the VBP of agriculture was R$ 1.280 billion, informed the CNA in a technical note released on Friday, 27. The VBP is the gross revenue of rural establishments, considering agricultural and livestock production and the average prices received by rural producers across the country.
The biggest decline tends to be recorded in agriculture, with a predicted reduction of 4% in the VBP, from R$869.7 billion to R$834.6 billion this year. In livestock farming, the VBP is projected by the CNA, at R$404.4 billion at the end of this year, a drop of 1.4% compared to 2023, when the sector recorded R$410.2 billion.
In agriculture, soybeans, which should represent 37.4% of the VBP, with the largest share among crops, tend to record a result 17% lower than that of 2023. “Oilseed prices continue to decline (-12.9% ) and there is a drop in production (-4.7%). In the case of corn, there is also a forecast of a drop in production (-12.3%) and price (-8.4%) in 2024”, noted the CNA, in the note, mentioning that the performance of the cereal tends to retreat 19.6%. On the other hand, the 4.5% increase in prices and 0.5% increase in production could boost the VBP of sugar cane by 5% this year, a crop with the third largest share in the VBP of agriculture.
In livestock farming, both beef cattle and dairy farming are forecast to see a drop in performance this year, according to the CNA, respectively 4.8% and 2%. The results of these chains were affected this year by the 8.8% drop in cattle prices and a 2% drop in milk prices.
#CNA #Gross #agricultural #production #fall #year #trillion