Agribusiness grows 4,2% in October, reveals FGV Agro

In October 2024, the volume of agro-industrial production registered an increase of 4,2% compared to the same month in 2023. The expansion was driven by the Food and Beverage Products segment (+1,4%) and Non-Food Products, which grew 7,4% in the month. The strong growth of the Agro-industry in October clearly reflects, on the one hand, the excessively heated Brazilian domestic market and, on the other, the good pace of exports.

In the year, the Agribusiness sector has accumulated an increase of 2,7%, corresponding to the best result for the period (accumulated between January and October) since 2010. Given the good performance observed in recent months, the probability of the Agribusiness sector closing the year with a growth of 2,7% (base scenario of FGV Agro) or higher has increased. For this to happen, it is enough that in the next two months, the sector accumulates an increase of 2,5%.

It is important to emphasize that this will probably be one of the best years for the Agribusiness sector in the last 14 years. Even if agribusiness production does not register growth in the last two months of the year (something that is unlikely to happen), the sector would close the year with an accumulated growth of 2,3%, that is, the highest annual growth since 2010.