Corn supply impacts VBP projections in Mato Grosso
Agrolink – Seane Lennon
Published on 04/01/2024 at 11:48 pm.
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Photo: Agrolink
On Monday (01), the Mato-Grossense Institute of Agricultural Economics (Imea) updated the data estimating the Gross Production Value (VBP) for the agriculture and forestry sector in Mato Grosso for the year 2024. According with Imea, the revenue projection for the sector was R$120.75 billion, reflecting a decrease of 8.55% in relation to the previous estimate.
One of the factors that contributed to this decrease was the performance of corn, which represents 20.43% of the total amount of VBP for agriculture and forestry in Mato Grosso. The estimate for the cereal showed a drop of 4.00% in relation to the last release, closing at R$24.67 billion.
The decline in corn revenue was mainly driven by the devaluation in the price of the cereal, which registered a drop of 2.94% in the period analyzed. Furthermore, it is important to highlight that future corn VBP estimates may be influenced by the price of the cereal, since there is still a supply of 2.62 million tons of the 2022/23 harvest to be sold, according to data up to February 2024.
Tags: Retraction corn revenue Mato Grosso
