Rio de Janeiro – Brazilian agriculture hit records in several important crops last year, leading the value of production to hit a record high of BRL 343.5 billion (USD 86 billion), up 8.3% year-on-year. The information was made public this Thursday (5) by the Brazilian Institution of Geography and Statistics (IBGE) on Municipal Agricultural Production (PAM 2018).
According to IBGE, the value of production equals the gross value of production. The so-called “farm gate value,” which is the price without transport costs and taxes, is multiplied by the total production. The result is the value of production.
According to IBGE Agriculture manager, agronomist Carlos Alfredo, the main reasons for the record-high value of production were the weather conditions, which were good early last year for some crops. Weather was bad for the second corn crop but, value-wise, corn shortage drove the price up, he explained. “So, it also impacted this value of production,” said Alfredo.
Translated by Guilherme Miranda
