SÃO PAULO (Reuters) – Soybean producers in Brazil are expected to cultivate 42.88 million hectares in the 2022/23 cycle, which starts in September, up 2.6% year-on-year and the highest level in history, gaining areas, including summer corn and cotton in some regions, said this Friday to Safras & Mercado.
“The high profitability of soybeans, supported by high prices, should encourage Brazilian producers to increase the area sown with the oilseed, even with the general increase in production costs,” said analyst at consultancy Luiz Fernando Roque in an online event.
He said that the trend is for a recovery in productivity, after the fall that occurred in 2021/22 due to drought, and the production potential is 151.5 million tons, 20.3% higher than the 125.88 million tons harvested. in this year.
“With this record harvest level and high demand from Chiha, we do have a chance of surpassing 90 million tons in soybean exports in 2022/23”, he added.
(Reporting by Nayara Figueiredo)
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