Browse Data and Analysis

Brazil’s Marketing Year (MY) 2023/24 sugarcane crop is forecast to reach 661.4 million metric tons (MMT), which is 6.5 percent larger than MY 2022/23, because of favorable weather conditions and high sugar prices.

Brazilian corn and wheat productions continue to exceed expectations, setting record-breaking harvests. In contrast, Brazil is expected to produce its lowest rice crop in 25 years due to a period of prolonged drought in the south and low profitability for farmers.

The United States and Brazil are world leaders in agricultural research, and our collaboration over the last several decades has been a cornerstone of the close relationship between our two countries.

The Brazilian Food Processors' Association (ABIA) reported that the food processing sector in Brazil had revenue of US$209 billion in 2022, showing a growth of 16.6 percent compared to the previous year.

In 2023, Post forecasts that cattle production will grow 1.3 percent, to 48.5 million cattle head, as the Brazilian cattle sector reaches its peak in the production cycle.

In 2022/23, Brazil is forecast to reap a record soybean crop of 153 million metric tons (MMT). Post maintained the forecast for planted area expansion of 43.3 million hectares (ha). Harvest lags behind schedule compared to previous years,

Brazil`s economy is still recovering from the negative impacts of the pandemic on its GDP growth, employment, and most sectors of the economy. For 2023, the Brazilian Central Bank (BCB) forecasts GDP to grow 0.76 percent and 1.5 percent in 2024.

Brazil is set for another record-breaking grain harvest. Post maintains its corn planted area forecast at 22.5 million hectares for MY 2022/2023 and corn production is forecast at 125.5 MMT for MY 2022/2023, up 8 percent from the estimated 116 MMT for MY 2021/2022.

Post increased the 2022/23 forecast for soybean planted area expansion to 43.3 million hectares (ha) and soybean production to 153 million metric tons (MMT). This season sowing began optimistically, with most soybeans planted on time compared to last year. However, in the southern part of the country including Rio Grande do Sul and Parana, rains will be needed in January because if continues to be dry, the crop will be negatively impacted.

After being adversely affected by the coronavirus pandemic, Brazil’s gross domestic product (GDP) registered two years of consecutive growth, 4.6 percent in 2021 and an estimated 3 percent by the end of 2022.

Post forecasts 2022/23 planted cotton area at 1.66 million hectares (ha), with production at 13.3 million bales (2.89 million metric tons, MMT), about a 13 percent increase from the 2021/22 estimated production of 11.52 million bales (2.5 MMT). Cotton area is forecast to rise because of favorable weather leading to timely first-season soybean planting and improved yields, as well as a favorable outlook for prices and profitability.

This report identifies Brazil’s import requirements for foreign export certificates. Export certificate matrix and outline are included. There are additional certificates and certificate changes added to the trade matrix that affect imports of agricultural products in general. This report supplements the FAIRS Narrative Report.