Browse Data and Analysis

In 2021, the Brazilian foodservice industry reached revenues of BRL 460 billion (USD85.2 billion), a growth of 26 percent compared to 2020. Although many challenges are still present, the forecast for 2022 is at 18 percent growth compared to 2021.

Post forecasts an increase in cattle production by 2.8 percent in 2022 and one percent in 2023, driven by global demand, elevated beef prices, and a general trend of expansion in the sector. Nevertheless, increasing production costs, especially feed prices, inflation, and unstable weather are expected to pose challenges to cattle ranchers.

Post increased its forecast for soybean planted area to 42.8 million hectares for 2021/22, up previously from 42.5 million hectares. Brazil continues to expand its area due to record high domestic soybean prices. Post forecasts a record harvest at 148.5 million metric tons (MMT), increased from 144 MMT previously with planting starting earlier this year as well.

Post forecasts 2022/23 cotton area planted at 1.65 million hectares (ha), an increase of just over one percent from the 1.63 million ha cotton area estimate for 2021/22. Post’s forecast is based on expectations that despite challenges, such as risings costs and tightening margins, Brazilian producers are optimistic about the crop’s prospects, and eager to continue growing the sector.

Morocco’s hotel, restaurant, and institutional industry (HRI) started to recover in 2022, reflecting an increase in tourism arrivals as COVID-19 travel restrictions ease. According to Ministry of Tourism reports, Morocco received 3.4 million foreign visitors at the end of the first half of 2022, a 300 percent year-on-year increase (compared to a 57 percent decline in 2021).

Brazil’s Marketing Year (MY) 2022/23 sugarcane crop is estimated at 621 million metric tons (MMT), an increase of eight percent compared to the final estimate for MY 2021/22 (576 MMT), supported by better weather conditions vis-à-vis the previous year. Sugar prices remain attractive and sugar-ethanol plants have focused on sugar production as opposed to ethanol. Brazilian exports for MY 2022/23 are estimated at 28.2 MMT, raw value, an increase of 2.25 MMT relative to the previous season.