Brazil: Aprosoja predicts an increase in soybean area by 5%

Published 2024년 7월 9일

Tridge summary

The state of Piauí in Brazil is projected to see a slower expansion in soybean cultivation in the 2024/25 season, with an anticipated growth of 5%, down from 10-15% in previous years, as reported by the Brazilian Association of Soybean Producers in the State (Aprosoja-PI). This deceleration is attributed to high production costs and mediocre market prices for soybeans, which are increasingly approaching the costs of production. Additionally, the sector faces challenges such as delayed sales, slower access to credit, and uncertainties about the climate conditions for the next season. Despite these challenges, there is optimism for good yields and increased profitability expectations for soybeans and corn under the anticipated climate conditions for the 2024/2025 season.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Soybean area in the state of Piauí is expected to grow at a lower rate in the 2024/25 season compared to recent years, according to information from the Brazilian Association of Soybean Producers in the State (Aprosoja-PI). According to a study by the National Supply Company (Conab), the state cultivated an area of 1.087 million hectares in 2023/24. According to Aprosoja-PI executive director Rafael Maschio, at the beginning, depending on prices and still high costs, soybean area is expected to grow by about 5% in 2024/25, compared to 10-15% seen in recent years years, either by opening areas or by taking over 1st crop corn areas. Raphael notes that production costs for soybeans are very close to the prices paid for the product, in part due to lower quotations. In the case of corn, the costs are higher compared to the prices that are practiced in the market. “Investment in this scenario, especially new ones, turns out to be more modest,” he admits. He notes that manufacturers are ...

Source: Oilworld