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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.

Despite the impact of the coronavirus pandemic in the Brazilian economy, the retail industry registered a positive performance.

Brazil reached robust sales growth figures for wines in 2020, reaching 380 million liters or 15 percent higher compared to 2019.

On June 11, 2021, the Brazilian Ministry of Agriculture, Livestock and Food Supply (MAPA) issued a notice soliciting public comments on the “Plant-Based Regulatory Discussion.”

On December 30, 2020, the Brazilian National Biodiesel Production Program (CNPE) issued Resolution #14 with guidelines to implement a new market environment for biodiesel trade, which should replace the current biodiesel public auctions.

For 2021/22, Post forecasts soybean planted area at 40.3 million hectares (ha), and production at 143.5 million metric tons (MMT), based on a yield of 3.56 mt per ha. Post revised up 2020/21 planted area estimate by 300,000 ha to 38.8 million ha, and...

On June 9, 2021, the Federal Gazette (DOU) published Resolution RDC/Anvisa #541/2021, which modifies Resolution RDC/Anvisa #332/2019 that defines requirements for the usage of industrial trans-fat in foods.