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With Brazil continuing to produce record corn crops, Post forecasts corn production for MY 2023/24 at 131 MMT, up 1.6 percent from the current season. However, falling profit margins and ongoing infrastructure and logistics hurdles may impact the next harvest’s outcome.

The Brazilian economy grew by 2.9 percent, largely supported by household consumption, which advanced 4.3 percent in the year despite inflation challenges. The labor market recovery continued as unemployment dropped to 7.9 percent by December 2022.

Post forecasts the Brazilian coffee production for Marketing Year 2023/24 (July-June) at 66.4 million 60-kg bags, an increase of 3.8 million bags compared to the previous crop. Post forecasts arabica production at 44.7 million bags, an increase of 12 percent from the previous season due to favorable weather conditions in growing regions.

FAS/Brazil facilitated over US$ 3 million dollars so far in 2016 in U.S. exports of milk powder to Brazil in response to a domestic shortfall.

Post forecasts broiler production to increase by three percent in 2017 to 14 million metric tons as a result of higher world demand for the Brazilian product.

The Brazilian ethanol-use mandate remains unchanged at 27 percent (E27).

A lower than anticipated domestic corn supply is forcing prices up, putting pressure on the pork and poultry sectors, and forcing the government to intervene.

The United States exported 836 million gallons of non-beverage ethanol in 2015, nearly all of which was used for fuel.