In Brazil, Globo Rural reported that the soy and biodiesel chain in Brazil is expected to end this year with a GDP 6% lower than in 2023, according to an estimate by the Center for Advanced Studies in Applied Economics (Cepea), at Esalq/USP, in partnership with the Brazilian Association of Vegetable Oil Industries (Abiove).
The expected result for the chain’s income this year will be impacted by the crop failure and its repercussions on agribusiness services, according to the report.
Despite this, the result should exceed the pre-pandemic level and represent 23.2% of the agribusiness GDP and 5.1% of the national GDP. In 2023, the GDP of the soybean and biodiesel chain increased by 22%.
More on the story.
Tags: biodiesel, Brazil, soybean
Category: Food & Agriculture
