São Paulo – Gross farm income in Brazil is expected to be BRL 518.1 billion (USD 161.5 billion) this year, the Ministry of Agriculture, Livestock and Supply reported this Monday (17) based on September surveys. The figure comes as the third best performance since record-keeping began, in 1989, although it’s down 2.6% from 2015.
Maize is the primary driver behind the decline, with a 21.2% drop in production, from 84.7 million tons last year to 66.7 million tons in this one. The second crop of maize also saw output shrink this year.
The reduced output led to a 7.1% decline in total production value for maize. The value of total cotton, rice, cocoa, orange, tomato, pork and milk production is also set to decline this year.
Gross farm income is a measure of the total amount grossed by rural properties in the country, including agriculture and livestock output and the products’ prices.
*Translated by Gabriel Pomerancblum
