Update on Brazil: soybean revenue much higher this year
According to the National Confederation of Brazilian Agriculture, the total revenue originated by soybeans in Brazil will grow by 30.5 percent to R$ 90 billion (nearly US$ 47 billion). The reason is that soybean prices continue to be better than in 2012. Corn would bring a total revenue of R$ 41 billion (close to US$ 20 billion), says the institution.
Antonio Sartori, director of Brasoja, a large soybean supplier in southern Brazil, says that the big grain crop would push uncertainty away, would boost the economy, and profitability for farmer might be better than ever as a result. "It (the results) is thanks to the huge investment on technology and good weather. However, there a few setbacks", he told Agriculture.com.
One of these setbacks could be the likely strike to happen at some Brazilian ports. This was supposed to happen last Friday, but negotiation with the government have at least postponed the strike to March 15th. Workers want that the government to cancel the privatization of the main ports. Anyway, shipments to China may be late.
In the meantime, the weather in Mato Grosso has helped farmers. The status of the soybean harvest there is at 47 percent. About a year ago, 51 percent of the soybean was harvested in that center-western Brazilian state. Last week, rains have not helped farmers in Paraná, in the south. In that southern state, the soybean harvest is at 31 percent.