IMEA: Mato Grosso soybean production to hit record high in 2022/23

Foreign media, May 5: The Institute of Agricultural Economics (IMEA) in the Brazilian state of Mato Grosso expects the state’s soybean production in 2022/23 to reach a record 39.48 million tons, an increase of 1.53% year-on-year, as plantings increase and attractive prices.

Farmers will plant 2022/23 soybeans in September this year. Mato Grosso’s soybean plantings could increase by 2.82% to 11.2 million hectares in 2022/23, according to IMEA’s first survey results.

The IMEA tentatively forecasts an increase in soybean acreage in Mato Grosso, due to higher soybean prices, strong demand and firm prices for soybean-based products. This may prompt some farmers to convert pastures into agricultural land, especially in the livestock-dominated areas of the Northeast and North.

The IMEA forecast soybean yield at 58.62 bags per hectare, down 1.26 percent from the previous year. However, this forecast may change due to factors such as weather, pests and diseases and investment levels.

The report does not explicitly mention the fertilizer crisis. The crisis has raised costs and caused supply problems.

IMEA forecast 2021/22 soybean production in Mato Grosso state at 38.9 million tonnes, down from an earlier forecast of 39.19 million tonnes due to excessive late-growing rains.

The 2021/22 soybean harvest has ended. The state’s soybean production was up 7.85 percent from the previous year, despite the lower production.

Excessive rains during the soybean harvest, crop lodging, abnormal pods and delayed deliveries have led to an increase in the proportion of damaged soybeans in some regions, IMEA said.