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With Brazil continuing to produce record corn crops, Post forecasts corn production for MY 2023/24 at 131 MMT, up 1.6 percent from the current season. However, falling profit margins and ongoing infrastructure and logistics hurdles may impact the next harvest’s outcome.

South African production of oranges and lemons is projected to decrease in MY 2022/23 due to stagnated production area and a return to normal yield.

The Brazilian economy grew by 2.9 percent, largely supported by household consumption, which advanced 4.3 percent in the year despite inflation challenges. The labor market recovery continued as unemployment dropped to 7.9 percent by December 2022.

Zimbabwe’s corn crop for marketing year 2023/24 is estimated at 1.5 million metric tons. This represents an increase of five percent from the previous marketing year’s crop, mainly due to a normal rainfall season in the northern parts of the country.

Seafood is an important staple in Ghanaian cuisine as it accounts for 60 percent of animal protein intake with an estimated per capita consumption rate of 26 kg. U.S. seafood sales to Ghana recently experienced a boost in sales, however, sustained seafood exports from the U.S. are at risk due to the Government of Ghana’s (GOG) recent announcement to increase the tax 1,573 percent per metric ton on frozen seafood.

The Angolan Agricultural Economic Fact Sheet has been updated to include calendar year 2022. U.S. agricultural exports to Angola reached $237 million in 2022, rebounding by 80 percent from the previous year.

The impacts of climate change are beginning to manifest on the entire globe and particularly on developing countries like Ghana. The country is vulnerable to rising sea levels, droughts, increasing temperatures and erratic rainfall which adversely impacts infrastructure, hydropower production, food security and coastal and agricultural livelihoods.

Post forecasts the Brazilian coffee production for Marketing Year 2023/24 (July-June) at 66.4 million 60-kg bags, an increase of 3.8 million bags compared to the previous crop. Post forecasts arabica production at 44.7 million bags, an increase of 12 percent from the previous season due to favorable weather conditions in growing regions.