In 2023, Brazil's soybean production reached approximately 132 million metric tons. As the following years are forecasted, production is expected to exhibit a steady annual growth. From 2024 to 2028, the production is anticipated to increase, with year-on-year growth ranging from around 2.7% to 2.9%. The Compound Annual Growth Rate (CAGR) over this five-year period is estimated to be approximately 2.7%, highlighting a consistent upward trend in soybean output.
Future trends to watch for include:
- Technological advancements in farming that could further improve yields.
- Potential impacts of climate change on agricultural practices and productivity.
- Fluctuations in global market demand and international trade policies influencing Brazilian exports.
- Internal policy changes and investments in infrastructure that may boost production efficiency and volume.
