BFAP: Perspectives on AGRICULTURE’s PERFORMANCE in Q2 of 2023

In Summary:

The agricultural sector’s growth of 4.2% in Q2 of 2023 was enabled by the field crop sector – mainly the summer crop, where volumes are expected higher in 2023 compared to 2022, offsetting the decline in prices. In the case of animal products and horticulture, revenue gains were limited and input costs remained high, suggesting that GDP in these sectors contracted. In Q3, some correction is expected for field crops, given earlier deliveries in 2023 compared to 2022. In BFAP’s latest baseline, a modest contraction is still expected for full-year agricultural GDP. While lower feed grain prices could ease some pressure in livestock production, the horticultural sector in particular remains under pressure due to inefficiencies at domestic ports, together with constrained global demand weighing in on Dollar-based prices.


Read the full report here:

Share this article:


Important Notice

Related Posts