Brasília – Brazilian agribusiness posted an accumulated growth rate of 2.81% in the first quarter this year, as against 0.74% in the same period of 2007. The contribution of the agriculture and livestock sector to the Gross Domestic Product (GDP) increased 4.35% during the quarter, as against 1.49% during the first three months last year. Agribusiness exports totalled US$ 27.2 billion from January to May, the equivalent to 37.8% of total exports from Brazil.
The figures were disclosed yesterday (17th) by the National Confederation of Agriculture and Livestock (CNA). Among the factors that drove growth, the organisation cited the record-high crop and the increase in agricultural prices, which resumed the growth rate recorded prior to the income crisis that took place during the 2004/05 and 2005/06 crops.
*Translated by Gabriel Pomerancblum
