Reuters – Brazilian soybean farmers will raise soybean plantings by 1.5 per cent nationwide next season, agribusiness consultancy Agrinvest Commodities told Reuters recently, in one of the first-known projections for area growth for the new crop.
Brazil planted 40.8 million hectares (100.8 million acres) with soybeans in the 2021-22 cycle, a 4.1 per cent expansion, government data showed.
As fertilizer prices used to boost crop yields surged, some analysts feared a potential soy area reduction.
A fall in the planted area would be the first since the 2006-07 season, when Brazil’s area shrank by nearly seven per cent following a sharp soy profit margin drop, Agrinvest said.
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The 2022-23 soy season starts in September, when farmers in top grain state Mato Grosso begin to sow their fields.
Agrinvest’s estimate corroborates recent remarks by another forecaster, which indicated expansion but at a slower pace because of a spike in fertilizer costs.
Crop nutrient prices rose as a result of sanctions on supplier Belarus, curbs on Chinese fertilizer exports and sanctions on Russia, a big provider to Brazil.
In late April, farm group Fundação MT, in association with Agrinvest, conducted a survey of about 100 grain growers from Mato Grosso state.
The survey showed 72 per cent of farmers intended to increase the planted area come September, with 40 per cent saying they would expand plantings above five per cent and 32 per cent by up to five per cent, Agrinvest said.
In relation to the use of fertilizers, 64 per cent said they would reduce applications by up to 20 per cent, while 15 per cent said they would cut fertilizer use above that level.
“It is open for debate whether soy yields will be affected by reduced applications,” said Jeferson Souza, analyst with Agrinvest. “Brazil is large and heterogeneous and the analysis is on a case-by-case basis.”
