Brazil forecasts 6.2-pct drop in 2018 grain harvest


Brazil, one of the world's largest granaries, will see a 6.2-percent decline in its harvest of cereal, legumes and oilseeds this year compared to last year, the Brazilian Institute of Geography and Statistics (IBGE) said on Tuesday.

The projected drop is equivalent to 14.8 million tons, with a forecast total production of 225.8 million tons, the IBGE said.

The IBGE data showed production estimates fell 0.4 percent or 1 million tons less in August compared to July.

The country's farm production area is calculated at 61 million acres, which represents a reduction of 159,800 acres compared to the previous year, according to IBGE.

Rice, corn and soy make up 92.8 percent of the projected harvest and account for 87 percent of the growing area.

Compared to 2017, soy production will increase 1.6 percent, while corn production is expected to shrink 18.6 percent and rice will see a 5.3-percent drop.

In addition, the IBGE data showed that in August, the estimated production of wheat, grapes, rice and soy increased 8.2 percent, 4.2 percent, 2,2 percent and 0.3 percent, respectively.

At the same time, projections for sorghum and tomato fell 9.9 percent and 1.6 percent, respectively.


Readers choice: TOP-5 articles of the month by UkrAgroConsult