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Financial News: BRAZIL: 2018 Crop Should Fall 6.8% Compared To

BRAZIL: 2018 Crop Should Fall 6.8% Compared To 2017 - IBGE

01/11/2018 - 16:36:00 (RTTNews)

(RTTNews) - Brazil's total crop in 2018 should reach 224.3 million tons, a decrease 16.3 million tons or 6.8% compared to the 2017 harvest, said the country's statistics office (IBGE).

Previously, the 2018 crop estimate was at 219.5 million tons. The upward revision reflects the favorable climate conditions in December, which favored the development of soybeans, maize and rice.

"In November, prolonged drought delayed the start of the sowing, but the abundant rainfall in December changed this situation, leading to an adjustment in the harvested area and the forecast production of rice, soybeans and maize's first crop," said Carlos Alfredo Guedes, an IBGE researcher.

The drop in the Brazilian crop output in 2018 results from estimates of lower production for maize (-15 million tons) and soybean (-2.7 million tons) compared to 2017, said the IBGE.

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