LatinNews Daily - 10 November 2022

In brief: Brazil forecasts record grain harvest for 2023

*Brazil’s national statistics institute (Ibge) has released its first forecast for the 2023 harvest of grains, cereals, legumes, and oilseeds in the country, predicting a harvest of 288.1m tonnes (t). This represents a 9.6% increase on the harvest expected for 2022 and is an annual record for Brazil’s grain harvest. Ibge also updated its forecast for the 2022 harvest to 262.8m t, up 0.3% on the last forecast, from September. This value represents a 3.8% increase on the 2021 harvest (253.2m t). The Ibge projects that the boost in Brazil’s grain harvest in 2023 will be driven by increases in the production of soy (19.1%) and corn (16.8%).

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