Rural GDP grows 21.6% in the first quarter, points out IBGE

Agriculture was the engine of GDP growth in the first quarter, with an expansion of 21.6% compared to the last three months of last year, according to data from the Brazilian Institute of Geography and Statistics (IBGE). The good performance of the field, driven by the record harvest, made the overall result for the first quarter – a 1.9% expansion in GDP – the best since 2010.

For this year, the Dutch bank Rabobank points out that commodities linked to exports should have significant gains in production. This is the case of soy, which is estimated to grow by 18.6%; corn, 9.6%; cotton, 9%; sugar cane, 7.1% and coffee, 4%.