Agribusiness in Latin America and the Caribbean

Because of the size and fertility of its territory, its large population, and its big economy (one of the world’s top ten) Brazil can be described as the agri-business powerhouse of Latin America. The importance of the agribusiness sector is not always recognised, however. It can be argued, for example, that in the 2015-2016 recession, the sharpest recorded economic downturn in recent Brazilian history, agribusiness actually ‘saved’ the economy from an even worse crash, something which has not been fully recognised. In 2017, as Brazil began to slowly climb out of the recession, agribusiness had a record year, growing by 13%, the strongest expansion recorded in 21 years. Soya, with a 55.2% increase in crop yields, and maize production (with a 19.4% increase) led the way.