Brasília – The forecast for the next grain crop in Brazil ranges from 142.03 million to 144.55 million tonnes. In the 2007/2008 crop, 143.8 million tonnes were harvested. É The figures were taken from the first grain crop survey, concerning the 2008/2009 cycle, held by the National Food Supply Company (Conab). The estimate was announced today (08) by the minister of Agriculture and Supply, Reinhold Stephanes.
According to him, the foodstuffs sector should be the last to be affected by the international financial crisis, because no one will refrain from buying them, and farmers will not stop selling them, eve at lower prices.
The minister stated that there is going to be no shortage of credit for agriculture, as the government has already earmarked 5 billion reals (US$ 2.2 billion) to the sector. Besides, according to him, the reduction of mandatory payments banks are obliged to make to the Central Bank of Brazil should help solve the credit issue in the private banking network.
Stephanes called attention to the fact that the Conab forecasts are always more on the conservative side, i.e., the organisation estimates lower crop volumes than the actual ones, as occurred last year and may happen again in the next crop.
*Translated by Gabriel Pomerancblum
