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On Thursday May 12, the Government of Brazil (GOB) cut import tariffs for several categories of goods, focusing on food staples in an attempt to reduce consumer inflation. Import tariffs on beef, chicken, corn, wheat flour, wheat, cookies and bakery products were eliminated through the end of the year.
Post forecasts production at 14.85 million metric tons in 2022, growing two percent due to strong external demand. Production is forecast to set historical record. Consumption for 2022 is forecast at 10.25 million metric tons, slightly reduced from 2021.
For 2022/23, Post forecasts cotton planted area to shrink 3 percent compared to the current season, to 1.55 million hectares. The Post forecast for 2022/23 cotton production is 12.6 million bales, or 2.74 million metric tons (MMT), down from 13 million bales (2.83 MMT) in 2020/21.
Brazil is the second largest producer of biotech crops in the world.
Post forecasts fluid milk production to increase by 1.8 percent in 2018.
Brazil’s coffee production for MY 2017/18 is revised down to 51.2 million 60-kg bags.
Brazil’s MY 2017/18 sugarcane crush remains unchanged at 645 mmt. Approximately 48.3 percent of the crop is expected to be diverted to sugar, as a consequence of the continued worldwide sugar deficit.
2016/2017 corn production is estimated at a record 97.7 million metric tons (mmt), a 46 percent increase from the previous year, based on expanded area and improved yields.
U.S. exporters who want to enter or expand in India’s market have an array of opportunities available due to the country’s growing population and increasing demand for food and agricultural goods.
This report outlines regulatory requirements for food and agricultural product imports into Brazil, including import procedures.
Brazil is one of the largest agricultural commodity producers in the world and is continuing to expand its production.
Post forecasts both beef and pork production to continue to increase in 2018 to 9.7 million metric tons and 3.9 million metric tons, respectively.