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 Brazil's minister of Agriculture, Livestock and Food Supply, Reinhold Stephanes, said that the 2009/2010 crop should be the largest in history. The forecast exceeds the previous grain crop by over 7%.
After facing a smaller crop last year, when the country produced 134.3 million tons, the minister said that this year the result should exceed that reached in 2007/2008, the largest to date, with 144.1 million tons.
On Tuesday, March 9, the National Food Supply Company (Conab) also disclosed its crop estimate, 143.95 million tons, close to the volume estimated by the minister.
If the Conab estimate is confirmed, Brazil should have its second largest crop, 6.5% greater than the last crop. This estimate is 0.6% higher than the organization's previous forecast.
The stability of rains and great productivity should guarantee a larger grain crop. Soy should reach production of 67.57 million tons, or 10.40 million tons more than in the previous crop.
The crops of the states of Mato Grosso, Goiás and Rio Grande do Sul, the main producers of the commodity, have already exceeded 50%, according to the Conab. Other cultures, like corn, beans and cotton, should also have greater crops.
Trade Surplus
March began with a trade surplus of US$ 500 million for Brazil, according to the Ministry of Development, Industry and Foreign Trade.
In the first week of the month, exports totaled US$ 3.379 billion and imports, US$ 2.879 billion.
From January to the first week of March, the trade surplus was US$ 727 million, 52% less than the surplus identified in the same period in 2009 (US$ 1.516 billion).
Exports so far this year, up to the end of last week, total US$ 26.881 billion, and imports, US$ 26.154 billion.
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