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LatinNews Daily - 13 May 2022

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In brief: Brazil’s harvest projections revised up

* Brazil’s national statistics institute (Ibge) has raised its forecast for the 2022 harvest of grains, cereals, legumes, and oilseeds. Revising up its April estimate by 1%, Ibge forecast that the harvest will amount to 261.5m tonnes, representing a 3.3% increase on the 2021 harvest. The predicted increase is due to a greater area of land dedicated to arable farming, totalling 71.9m hectares – an increase of 4.9% on 2021. Rice, corn, and soybean account for 92.2% of Brazil’s estimated production total, and for 87.8% of the land area being harvested.