New soybean outlook fell 8.44% in Mato Grosso

New soybean outlook fell 8.44% in Mato Grosso
New soybean outlook fell 8.44% in Mato Grosso
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Gross Production Value (VBP) is projected at R$120.89 billion for agriculture and forestry

Agrolink – Seane Lennon

Published on 04/01/2024 at 11:43 pm.

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The second estimate of the Gross Production Value (VBP) for the year 2024 in Mato Grosso, projects a value of R$120.89 billion for the agriculture and forestry sectors.

According to the Mato-Grossense Institute of Agricultural Economics (Imea), this new perspective represents a reduction of 8.44% compared to the last estimate and an even more significant drop of 30.51% compared to the previous year.

The main reasons for this decline are the lower amounts collected from soybean and corn sales. In the case of soybeans, the crop’s share in the VBP of agriculture and forestry decreased by 3.91 percentage points compared to previous estimates, representing 55.55% in this projection. The projected value for soybeans is R$67.16 billion, which means a drop of 14.46% compared to the previous projection and a significant reduction of 34.11% compared to the year 2023.

This situation is the result of the cut in the price of soybeans this year, with a decrease of 29.34% compared to the previous year, in addition to the drop in oilseed production in the 2023/24 harvest, which reduced the supply in 2023/24 by 15.17%. comparison to the last harvest. As a result, there is an expectation that the VBP of soybeans in 2024 will be the lowest in the last two years.


The article is in Portuguese

Brazil

Tags: soybean outlook fell Mato Grosso

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