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%).
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