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Brazil crop area unchanged in 2014/15
Oct. 1, 2014
The grain crop area is estimated to remain stable in Brazil with 56.8 million hectares during the 2014/2015 crop season. The forecast interrupts successive highs that accumulated 20.8% in the last five seasons with an expansion of 9.7 million hectares in the period.
This is pointed out by a report from Carlos Cogo Agricultural Consultancy last month. According to the report, the phenomena stems from the expectation of a more moderate expansion of the soybean area, and steep declines of corn, kidney beans, cotton, and wheat.
Among the main reasons of the stagnation are the decline of global grain prices with the projection of record corn and soybean harvest in the United States in the 2014/2015, the 38% cumulative price fall of corns price and 29% of soybeans during the last 12 months, and the record global wheat crop in 2014/2015.
"Other factors including the world stocks of cotton at record levels in the 2014/2015, which are equivalent to 333 days of global consumption, the strong low domestic prices of kidney beans in 2014, after an increase of 22.7% production, and the smaller profitability expected for corn, cotton, and wheat in 2015" said Cogo.
The soybean area is expected to grow 3.8% in Brazil to 31.3 million hectares. During the last period, pushed by elevated global prices, the soybean area expanded 8.8%. The production of the oilseed is estimated at a new record of 93.2 million tons, 8.3% above the 96.1 million tons produced in 2013/2014. The average productivity is estimated at 2.9 kilos per hectare, 4.3% above of what was seen in 2013/2014 affected by drought in Praná, Minas Gerais, São Paulo, and other states.
The grain production will confirm the estimate of a new record of 200.3 million tons in Brazil in the 2014/2015 season, with an increase of 2.5% compared to 2013/2014. The estimated increase of five million tons is supported by an expectation of favorable weather in the major producing regions with an increase of 2.5% of grain productivity.
"These projections are conditioned to the confirmation of a favorable weather in the 2014/2015 especially for summer crops that respond for 70% of the total production", explained by Cogo.
Source: AgroNews
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