Brazil expects a record harvest in 2020

Brazil's agricultural harvest is expected to reach a record volume this year, which could rise to 247 million tons, according to government calculations released on Tuesday. This figure represents a 2.3% or 5.5 million-ton increase in production over the 2019 campaign, according to the latest balance of the Brazilian Institute of Geography and Statistics (IBGE).

According to official estimates, the cultivated area in the country will reach 64.5 million hectares this year, i.e. 2.0% higher than in 2019.

The Brazilian countryside will thus avoid the effects of the pandemic and will remain as one of the country's economic engines compared to other productive sectors that are already beginning to feel the serious consequences of COVID-19, such as the service sector, which fell by 6.9 % from February to March, or the industrial production sector, which plummeted by 9.1% in the same period.

According to analysts consulted by the Central Bank, the Brazilian economy will go into recession this year with a 4.11% drop in the gross domestic product (GDP).

 

Source: EFE / eleconomista.net 


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