Browse Data and Analysis

Brazil is set for another record-breaking grain harvest. Post maintains its corn planted area forecast at 22.5 million hectares for MY 2022/2023 and corn production is forecast at 125.5 MMT for MY 2022/2023, up 8 percent from the estimated 116 MMT for MY 2021/2022.

Following the UK’s departure from the European Union (EU), Great Britain (GB) is now outside of the EU single market and customs union, while Northern Ireland (NI) remains within the EU single market and customs union. Currently, rules in GB closely mirror EU law.

Post increased the 2022/23 forecast for soybean planted area expansion to 43.3 million hectares (ha) and soybean production to 153 million metric tons (MMT). This season sowing began optimistically, with most soybeans planted on time compared to last year. However, in the southern part of the country including Rio Grande do Sul and Parana, rains will be needed in January because if continues to be dry, the crop will be negatively impacted.

After being adversely affected by the coronavirus pandemic, Brazil’s gross domestic product (GDP) registered two years of consecutive growth, 4.6 percent in 2021 and an estimated 3 percent by the end of 2022.

In 2023, the cost-of-living crisis will replace COVID as the key challenge to the UK food and drink sector. Prices have increased at the fastest rate in 40 years, as the war in Ukraine, supply chain issues, and increases in energy prices make an impact.

Post forecasts 2022/23 planted cotton area at 1.66 million hectares (ha), with production at 13.3 million bales (2.89 million metric tons, MMT), about a 13 percent increase from the 2021/22 estimated production of 11.52 million bales (2.5 MMT). Cotton area is forecast to rise because of favorable weather leading to timely first-season soybean planting and improved yields, as well as a favorable outlook for prices and profitability.