Porto Alegre, December 07, 2020 – The most recent data on Brazil’s agricultural GVP for sugarcane in 2020, with values calculated for the month of October this year, point to the value of BRL 69.85 billion, down 1.06% from BRL 70.60 billion in 2019. This level of decline in the annual comparison of October is more intense than that observed in the previous month, when projections indicated an annual decrease of 0.67% from September 2019.
Despite the widening of the decrease in the annual comparison, in the margin the scenario is completely different. Between September and October, the cane GVP increased by 3.27%, advancing by BRL 2.21 billion, against advances of 2.02% seen in the margin in the previous month. Likewise, in the meantime, the total GVP of crops grew by 5.39%, or BRL 29.25 billion, and the total GVP of agribusiness grew by 5.20% in the margin, or BRL 41.95 billion.
It is interesting to note that the growth in the GVP of agribusiness and crops occurs in a scenario of growth in the grain crop. The second survey of the 2020/21 grain crop, released by the National Supply Company (Conab) on November 10, pointed out that production is estimated at 268.9 million tons of food, which means 11.9 million tons or 4.6% more than the 2019/2020 season. In relation to the volume estimated last month, there was an increase of 269 thousand tons. Soybean production must reach 135 million tons. The forecast for acreage is 67.1 million hectares.
SAFRAS Latam