Brazil posted record harvest of cereals, legumes and oilseeds in 2012, totaling 162.1 million tonnes, according to review; total was 1.2% higher than in 2011

Nevin Barich

Nevin Barich

Jan 15, 2013 – EIU Viewswire

January 15, 2013 () – Event

According to the 12th review of the national production of cereals, legumes and oilseeds conducted by the national statistics agency, IBGE, in 2012 there was a record harvest of 162.1m tonnes, 1.2% higher than in 2011. IBGE's third estimate for the 2013 harvest points to a 9.9% increase in output, to 178m tonnes.

Analysis

The latest estimates for 2012 were 0.3% lower than the estimate published in November review (162.6m tonnes). The harvested area in 2012 reached 48.8m hectares, an increase of 0.3% compared with the harvested area in 2011. Rice, corn and soybeans were the three main products, and together represented 91.6% of estimated production and 85.1% of the harvested area. The area sown to rice decreased by 13.7%, but for corn it increased by 7.3% and for soybeans it increased by 3.7%. With regard to production, corn was 27.0% higher, while that of rice and soybeans decreased by 15.4% and 12.3%, respectively, compared with 2011.

In December 2012, the IBGE also carried out the third estimate of area and production for the 2013 harvest. The production of cereals, legumes and oilseeds is estimated at 178m tons, 9.9% higher than the crop harvested in 2012. This increase is based on the recovery and the projected increase in the South (up 27.9%) and Northeast regions (32.3%), both of which suffered from adverse weather in 2012. The area to be harvested is expected to grow by 4.0% in the South and by 23.5% in the Northeast. The Midwest region is expected to expand by 4.1%, driven by supportive prices, notably for corn and soybeans. The IBGE's estimates for the Southeast and North regions also envisage a larger area of grains in 2013, up 4.0% and 0.1%, respectively, on areas harvested in 2012.

(c) 2013 Economist Intelligence Unit

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