Agribusiness ended 2021 at ‘zero to zero’Feb, 24, 2022 Posted by Gabriel Malheiros
The Brazilian Agroindustrial Production Index (PIMAgro) calculated by the Center for Agribusiness Studies of Fundação Getulio Vargas (FGV Agro) fell by 2.1% in December compared to the same month in 2020, but registered a positive change of 3.9% in relation to November and, as a result, closed 2021 with a stable result compared to the previous year.
PIMAgro is based on data from the IBGE Monthly Industrial Survey (PIM-PF) and on variations in the Central Bank’s Economic Activity Index (IBC-BR), the exchange rate and the Manufacturing Industry Entrepreneur’s Confidence Index ( ICI) from FGV.
The increase over December was defined by increases both in the group of non-food products (4%) and in food and beverages (3.8%). In the first, the highlights were the advances in biofuels (16.9%) and tobacco (10.9%); in the second, the biggest positive change was that of food products of vegetable origin (7.1%).
“Although agro-industrial production did not register a drop in 2021, the stagnation [change of 0%] is not presented as good news, since 2020 was marked by the most adverse effects (in economic terms) of the beginning of the covid pandemic in the country and, therefore, the basis for comparison is narrow”, evaluate the researchers from FGV Agro.
It is also worth noting that last year’s final result was stable thanks to the 7.5% growth in the production of non-food products, as opposed to the food and beverages group that saw a retraction of 6.2%. The FGV center also highlights that the Brazilian agribusiness ended 2021 with a production level 3.6% lower than in February 2020.
FGV Agro remains cautious in relation to 2022. In the projected base scenario, it forecasts a slight expansion of 0.4% for the year, as a result of increases of 0.3% in the food and beverage sector and of 0.6% in the area of non-food products.
Source: Valor Econômico
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