Agribusiness is growing again and should close the year with 2,7% growth

The expansion was caused exclusively by the Non-Food Products segment, which grew 4,5% in the month. The Food and Beverage Products segment, in turn, contracted 0,7%, impacted mainly by the lower production of plant-based foods.

In the next quarter, FGV Agro is projecting a 3,1% expansion compared to the same period in 2023. If this occurs, the Agroindustry will close 2024 with a 2,7% increase compared to the previous year. It is worth noting that this growth should come from both the Food and Beverage Products segment (2,9% per year) and Non-Food Products (2,5% per year).

Finally, it is important to emphasize that the exchange rate is one of the variables considered in the projection model. Given the high volatility of this variable, there is still some reasonable uncertainty regarding the growth projection for the Agribusiness sector for the end of the year. Although the number generated by the model is an expansion of 2,7%, the next revisions may slightly reduce this projection, perhaps to something closer to 2,5% - which would still be good growth for the sector for this year.