Brazil Boom in Agricultural Production
February 3, 2012| |
The Brazilian government forecasts crop area to expand from 62 million hectares in 2010/11 to 68 million hectares by 2020/21. Highest growth in area is expected for soybean and sugarcane. The production boom is partly a result of the rapid adoption of biotech seed varieties.
According to Celeres Consulting, biotech soybeans accounts for 83 percent of planted area while biotech corn now occupies 65 percent of total area. Brazil is expected to produce more of the key commodities than the U.S. by registering an average growth of nearly 27 percent (compared to 8 percent for the U.S.).
Brazil's share of world agricultural exports in 2010 is estimated at 9 percent. up from 5 percent a decade earlier. In contrast, market share of exporting nations such as the U.S., Canada, the European Union, and Australia, have deceased in the last 10 years.
More information is available at http://www.fas.usda.gov/info/IATR/012412_Brazil/.
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