In 2023, the total value of agricultural production at the farm gate in Brazil stood at 697.7 billion Brazilian Reals. From 2024 to 2028, forecasts indicate a consistent increase, reaching 822.87 billion Brazilian Reals by 2028. The year-on-year growth rates are approximately 3.5% in 2024, 3.5% in 2025, 3.3% in 2026, 3.1% in 2027, and 3.0% in 2028. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) is estimated at around 3.3%.
Future trends to watch for include:
- Impact of climate change on agricultural productivity and potential shifts in crop patterns.
- Expansion of Brazil's agricultural exports and its effect on production value.
- Technological advancements in agriculture, such as precision farming and biotechnology.
- Government policies influencing agricultural practices and investment.
