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Ipea estimates an 11% growth for Brazilian agriculture and cattle ranching in 2023

The Brazilian Institute for Applied Economic Research (Ipea) estimates that agriculture and cattle-raising will grow by about 11% in 2023.

Rural production is a key sector of the country’s economy.

In Ipea’s estimate for agricultural production results, the highlight was the increase in the estimated value for crop production (14%).

Crop-livestock-forestry integration system used in Brazilian agricultural production (Photo internet reproduction)

Among the factors for the performance of this segment is the increase in the soybean harvest, forecast by the National Supply Company (Conab) at 20%.

The grain is the flagship of Brazil’s agribusiness.

Besides this, the growth forecast by Ipea for Brazilian agriculture and cattle-raising contributed to the increase of 2% that the institute projects for animal husbandry.

“The production of cattle, pigs, and poultry should continue to be those that will contribute most positively in 2023,” the agency informs in a note.

“We estimate that cattle production should grow 2.4%, still taking advantage of the positive part of the cycle of this segment,” the text informs.

“For the production of pigs, our estimate is a deceleration, but with a still expressive result, growing 5% in 2023.”

“In addition, after a much less negative result in the third quarter of 2022, we expect milk production to show an improving trend, culminating in growth of 1.3% in 2023.”

With information from Revista Oeste

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