The agricultural Economic Research Institute of Mato Grosso (IMEA), Brazil’s top soyabean producing region, released its second forecast for 2020/23, raising the acreage of soyabean planted in the state to 11.81 million ha, an increase of 2.92% from 20201/22.

Despite rising production costs, rising bean prices have prompted farmers to increase their acreage.

While there have been concerns that fertiliser supplies in 2022/23 may be insufficient, Brazil’s Agriculture Minister Marcos Montes and the CEO of Mosaic Fertilizers have assured farmers that fertiliser supplies will be plentiful in 2022/23.

Most of the increase in planted area came from pasture to soybean fields, especially in the north and northeast of the state.

Soybean acreage is expected to increase by 86,700 hectares (214,150 acres) in the north of Mato Grosso and 78,370 hectares (193,500 acres) in the northeast.

The IMEA forecasts a statewide yield of 58.58 bags/ha (52.3 bushels/acre) in 2022/23, down 1.2 percent from 2021/22. Soybean production in 2022/23 is forecast at 41.5 million tonnes, up 1.6% year-on-year.

The Mato Grosso state government has allowed farmers to plant soybeans for the 2022/23 season from September 16.

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