News

Brazil: IMEA reduces 2023/24 corn harvest projection to 43.75 million tons

Maize (Corn)
Brazil
Market & Price Trends
Published Dec 6, 2023

Tridge summary

The Mato-Grossense Institute of Agricultural Economics (Imea) has lowered its estimate for the winter corn harvest in Mato Grosso, Brazil for the 2023/24 season. The estimate now stands at 43.75 million tons, a decrease of 2.5% from the previous estimate and 16.67% from the previous year's cycle. The decline in planted area is attributed to lack of motivation from producers and the lower profitability due to the devaluation in the price of corn.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

São Paulo, 12/05/2023 – The Mato-Grossense Institute of Agricultural Economics (Imea) reduced its estimate for the 2023/24 winter corn harvest in Mato Grosso, to 43.75 million tons, a decrease of 2.5 % in relation to the November estimate and 16.67% in relation to the 2022/23 cycle. In a monthly report, the planted area also suffered a decline in both comparative bases. In relation to the November projection, there was a drop of 2.5% and, regarding the last harvest, the decrease was 6.27%. According to Imea, the drop in planted area occurred due to “producers’ lack of motivation in relation to growing the cereal for the season”. The institute also explains that, with the delay in sowing the 2023/24 soybeans, the window considered ideal for off-season corn became tighter. “Furthermore, the devaluation in the price of corn does not cover the Effective Operating Cost (COE), which further worries producers regarding negative profitability.” Regarding the projected yield, Imea ...
Source: Abramilho
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