Agricultural GDP of Minas Gerais reaches R$ 235 billion

Minas Gerais' agribusiness registered the highest Gross Domestic Product (GDP) in its historical series in 2024, reaching R$ 235 billion. The value represents a growth of R$ 20.5 billion compared to the previous year, according to data released by the State Secretary of Agriculture, Livestock and Supply (Seapa). With this performance, the sector now accounts for 22.2% of the state's economy. The advance occurred even in the face of a 0.5% retraction in production volume, sustained by an average appreciation of 10.2% in agricultural product prices. "The growth is the result of a joint effort to strengthen production, add value and expand markets for Minas Gerais producers," reported Seapa in a statement. According to the survey, the gross added value (VAB) of agricultural, forestry and farming activities increased from R$ 61.8 billion in 2023 to R$ 70 billion in 2024. The agro-industry, commerce and services segments also grew, totaling R$ 165 billion this year, compared to R$ ...