Source: APKinform (Ukraine)
Conab analysts have updated their estimate for total grain production in Brazil in the 2023/24 marketing year to 298.41 million tons, a decrease of 21.4 million tons compared to the previous season’s harvest. The low production potential is attributed to delayed rainfall at the beginning of the sowing campaign, combined with low rainfall and high temperatures from September to November, a period of active plant development.
The total area sown nationwide is estimated at 79.82 million hectares, which is 1.6% behind the result for the 2022/23 marketing year.
The unfavourable weather conditions particularly affected the soybean harvest, whose total yield in MY 2023/24 is estimated at 147.38 million tons, 7.23 million tons less than the result of the 2022/23 marketing year. This includes 39.34 million tons harvested in the state of Mato Grosso, the main producer of this oilseed, which corresponds to a 15.7% decrease compared to the previous harvest.
In the case of maize, high temperatures and irregular rainfall affected the crop’s production potential, resulting in a decline in the area under cultivation. The total maize harvest is estimated at 115.72 million tons, 12.3% below the level of the 2022/23 marketing year. The lower harvest will affect the supply of Brazilian grain on the external market. Brazil could reduce export volumes by 34.1% per year to 36 million tons in the 2023/24 marketing year.