Soybean seed market grows 18% in Brazil, reaches BRL24.5 billion

With the 6% increase in soy cultivated area to more than 42 million hectares, the oilseed seed market moved BRL24.5 billion in the previous harvest, according to the FarmTrak Soja 2022-23 study that Kynetec revealed first-hand to AgroPages.

According to the survey, this result represents an increase of 18% compared to the 2021-22 cycle, when this market earned BRL20.76 billion.

The consultancy said that seeds with the technology to resist Bt insect pests (Bacillus thuringiensis) accounted for more than 90% of crops, while RR (Roundup Ready) made up 8%.

According to Kynetec specialist Millôr Mondini, the result ″is highly representative, as it confirms, harvest after harvest, the strength of the seed sector within the production process of the most important agricultural crop in the country.″

According to Mondini, compared to the 2020-21 period, when this segment transacted BRL15.6 billion, the current accumulated growth reached 57%.

″Although Bt technologies have expanded in use, FarmTrak also confirmed a new rise in the adoption of treatments with lizards,″ Mondini said.

These products reached almost 80% of the planting in areas with Bt biotechnologies, compared with 50% five harvests ago, he added.

″Lagarticides corresponded in 2022-23 to 30%, or BRL3.7 billion, out of the total BRL12.2 billion in the insecticide market,″ he further said.

Under this scenario, Kynetec's FarmTrak also shows the accelerated evolution of the biolagarticides market, Mondini said, adding that such products already generate BRL186 million from soy farming.

″Data indicated a trend of new rises related to biological lizards for the coming harvests. They are increasingly used on crops as a complementary tool to Integrated Pest Management (IPM),″ Mondini stressed.

The survey revealed little representative adherence by producers to the so-called ″new″ state-of-the-art biotechnologies, which totaled just over two million hectares or 5% of cultivated area, he said in conclusion.

(Editing by Leonardo Gottems, reporter for AgroPages)

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