The first forecast for the 2022/2023 crop season from Conab projects that Brazilian farmers will produce more than 300 million tons of grains – which would be their largest harvest in history.
The expected growth for the Brazilian crop will be supported by increased planted area and higher yields. The forecast margins for soybeans and corn are still positive, despite the rise in production costs, driven mainly by a spike in fertilizer prices.
Brazilian soybean and corn exports in 2022/2023 are forecast to increase, pushed by available supplies, favorable exchange rates, and continued robust global deman
However, Brazil did not have significant fertilizer supply problems for this season. From January to July, Brazil imported 23.6 million tons of crop nutrients, including potash and formulated products containing NPK, a 15.5% rise compared with the same period a year ago.
By value, the import bill rose 175.3% to $16.1 billion, according to
government data. Brazil relies on imports for about 85% of its fertilizer needs (see farmdoc daily, March 17, 2022).
https://farmdocdaily.illinois.edu/2022/08/new-record-grain-production-on-horizon-for-brazil.html |
