Brazil: Livestock and Products Annual
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Post forecasts beef production in 2021 at 10.5 million metric tons, which is an increase of 4 percent. The main drivers are solid exports, mostly to China, and improved domestic demand. Post also forecasts pork production to increase by 4.5 percent and reach a record of nearly 4.3 million metric tons, reflecting continued strong exports to China, improved domestic demand, and stable feed costs next year. The optimism behind this outlook reflects a recovery of the Brazilian economy, currently projected to grow 3.5 percent in 2021, with continued lower inflation, a stable unemployment rate, and improved consumer purchasing power. Fluctuations of the exchange rate, fragile world economic recovery and a resurgence of coronavirus infections are uncertainties in the animal protein industry.
