Brazil, a major global grain producer, anticipates a grain production of 299.6 million tons in 2024, a 5.0% decrease from the previous year. The Brazilian Institute of Geography and Statistics (IBGE) provided this forecast, estimating a cultivated area of 77.9 million hectares for cereals, legumes, and oilseeds.
Rice, maize, and soybeans are projected to account for the majority of production, with soybean production expected to decline by 2.4% and maize production by 11.7%. On the other hand, rice production is set to increase by 2.0%, reaching 10.5 million tons. Wheat production is forecasted to grow by 27%, while sorghum production is expected to decrease by 6.8%.
Factors such as excessive rainfall in the South and droughts in the North, influenced by the El Niño phenomenon, have impacted planting schedules and yields. Despite these challenges, the rise in rice production is attributed to favorable water conditions in the South and higher prices incentivizing farmers to expand their planting areas.
Brazil Projects Lower Grain Production for 2024
The projections underscore the importance of strategic planning and adaptation to maintain Brazil’s prominent position in the global agricultural market. The government’s actions to address these challenges will be vital in stabilizing production and ensuring food security. The agriculture sector must navigate complexities to sustain growth and resilience in the face of climatic and market challenges.