Brazil’s 2020 agricultural output reached $165.5 bi

Brazil’s 2020 gross value of agricultural production—VBP in the original Portuguese acronym—reached $165.5 billion. Real growth stood at 17 percent. Crops reported revenues adding up to $110.3 billion, up 22.2 percent, and livestock $55.2 billion, up 7.9 percent.

According to a technical note by the Ministry of Agriculture, Livestock, and Supply, the products with the largest contribution in the output increase in the final result were soybeans, with 42.8 percent, corn, with 26.2 percent, pork, with 23.7 percent, and beef, with 15.6 percent.

Revenues for soybeans, corn, and beef were reported at $46.3 billion, $18.9 billion, and $24 billion, respectively.

The key variables behind the result, the ministry stated, are linked to the prices of goods in the domestic market, favorable exports for grains and meats, and the production of the 2020 harvest.

VBP

The gross value of agricultural production (VBP) monitors the performance of crops and livestock over the year. Its calculation is based on the agricultural harvest, the livestock, and the prices received by producers across Brazil’s 26 biggest agricultural products.