2024 Retrospective: The 10 Most Important Events in Brazilian Agribusiness

In 2024, Brazilian agribusiness faced challenges and achieved significant milestones, solidifying its position as one of the pillars of the global economy. Below, we highlight the 10 key events that shaped the sector throughout the year.

1. Soybean Leadership

The 2024 soybean harvest reached a historic record, with production estimated at 155 million tons, reaffirming Brazil's position as the world's largest producer and exporter of this vital oilseed. While this represents a modest increase compared to the previous cycle, it underscores the importance of adopting advanced technologies such as precision farming and the use of more resilient seed varieties. 

These innovations mitigated the effects of adverse climate conditions, leading to an increase in average productivity per hectare and strengthening Brazil's position in the international market.

Soybean exports were projected to surpass 103 million tons, driven by investments in logistical infrastructure, including improvements in railways and ports, and diversification into new markets, particularly in Asia. These efforts demonstrate the strategic relevance of soybeans to the national economy and their essential contribution to global food supply.

2. The Implementation of the EUDR (European Union Deforestation Regulation)

2024 marked a turning point in global agricultural trade, presenting significant challenges for Brazil, particularly for farmers reliant on exports to the European Union. This regulation aims to combat deforestation and forest degradation associated with the production of goods such as soybeans, coffee, cocoa, and beef, requiring compliance with strict sustainability and traceability standards.

What Does the EUDR Require?

The EUDR bans the marketing of products directly or indirectly linked to deforestation after December 31, 2020. To meet its requirements, exporters must:

• Demonstrate that agricultural production adhered to local environmental laws and did not contribute to deforestation;

• Provide robust proof of traceability, from the origin of cultivation to the final destination in Europe;

• Establish systems to monitor supply chains and prevent contamination with non-compliant products.

The Impact on Brazil:

As one of the largest exporters of agricultural products to Europe, particularly soybeans, beef, and coffee, Brazil faces pressure to enhance sustainability practices and tracking mechanisms.

• Traceability: A key demand of the EUDR is full traceability. This requires Brazilian producers, many of whom are small and medium-sized farmers, to adopt technologies and systems that track production from planting to the end consumer.

• Sustainability: Beyond traceability, the EUDR promotes agricultural practices that minimize environmental impacts. This includes:

• Protecting native vegetation

• Reducing the use of agrochemicals

• Implementing reforestation and regenerative agriculture practices

3. Growth in Meat Exports

Brazilian meat exports reached historic levels in 2024, cementing the country as one of the world's leading suppliers of animal protein. Driven by beef, pork, and poultry, external sales saw significant growth, especially in Asian markets. Countries like China and Indonesia remained the largest buyers, while others such as Vietnam and the Philippines increased their imports, further diversifying the destinations of Brazilian production.

Beef Exports:

In 2024, Brazil exported approximately 2.5 million tons of beef, a 7% increase compared to the previous year. China remained the primary destination, accounting for over 60% of total exports. Shipments to the Chinese market alone generated around $9 billion in revenue, representing a 10% growth compared to 2023.

Chicken Meat Exports:

Brazil exported 5 million tons of chicken meat, achieving a record revenue of $10 billion. This growth was driven by new trade agreements with Middle Eastern countries and strengthened partnerships with Indonesia and Japan.

Pork Exports:

Pork exports exceeded 1.2 million tons, generating $3 billion in revenue. Market diversification was crucial, with a 15% increase in purchases by the Philippines and Vietnam standing out.

Factors Driving Growth

• Asian Demand: The economic recovery of Asian countries and the rising demand for high-quality meat positioned Brazil as a key supplier. For example, China faced a decline in its domestic pork production, creating opportunities for increased imports of Brazilian animal protein.

• Market Diversification: Beyond major Asian markets, Brazil expanded its presence in emerging markets and Middle Eastern nations like the UAE and Saudi Arabia. Diversification reduced dependence on a single market and mitigated the impact of trade restrictions in other regions.

• Logistical and Sanitary Improvements: The sector invested in enhanced traceability systems to meet the demands of importing countries, particularly regarding food safety and sustainability.

4. The Expansion of AgTechs: Democratizing Technology in Agriculture

2024 marked a significant leap forward for the AgTech ecosystem in Brazil. With over 1,900 active startups in the sector, the country solidified its position as one of the world's leading hubs for agricultural innovation. These companies are revolutionizing how farmers tackle daily challenges by leveraging technology to increase productivity, reduce costs, and promote sustainability.

AgTechs and similar solutions are transforming the realities of small and medium-sized producers, who often struggle to access cutting-edge technology. With these tools, farmers can:

• Enhance Agricultural Management: Plan crops with greater precision, minimizing waste and optimizing inputs.

• Increase Productivity: Employ data-driven practices to maximize land and resource use.

• Promote Sustainability: Implement techniques that preserve soil health, conserve water, and reduce environmental impact.

Growth and Recognition of AgTechs

Several AgTechs stood out in 2024, such as Solinftec, which uses AI to monitor agricultural machinery, and Aegro, which provides management systems for small producers. The growth of this ecosystem was fueled by:

• Startup Investments: Brazilian AgTechs received over R$ 3 billion in investments in 2024, according to AgFunder data.

• Market Adoption: Large cooperatives and producers began integrating these solutions into their operations.

• Global Recognition: Brazil was awarded as a global leader in agricultural innovation during events such as COP29 and the AgTech Summit in Singapore.

With the continued expansion of this ecosystem, Brazil not only strengthens its agribusiness but also positions itself as a global example of how technology can transform agriculture into a more productive, sustainable, and inclusive force.

5. Climate Phenomena and Adaptations: Challenges and Resilience

The year 2024 was marked by extreme weather events that tested Brazilian agriculture, exposing the sector's vulnerabilities but also highlighting its resilience. Prolonged droughts and excessive rainfall posed significant challenges for farmers, directly impacting production and operational costs.

In southern Brazil, states such as Rio Grande do Sul, Santa Catarina, and Paraná faced a dual challenge: devastating floods coupled with one of the worst droughts in recent years. Some regions experienced rainfall up to 40% below historical averages, according to data from INMET (National Institute of Meteorology).

Photo: Agroreceita

Meanwhile, in the North Region: Above-average rainfall caused flooding, complicating harvests, particularly in grain production and livestock areas in the Amazonia and Para states.

Despite these challenges, the agricultural sector demonstrated resilience, aided by the growing adoption of technology and improved management practices.

6. Advances in Biotechnology

The year 2024 saw significant progress in agricultural biotechnology, establishing this field as a critical tool for tackling the challenges of food production amid climate change and sustainability pressures. Through new technologies and cultivars better suited to adverse conditions, biotechnology played a vital role in enhancing the efficiency and resilience of Brazilian agribusiness.

Key Innovations of 2024:

• Drought-Resistant Soybean Seeds:

  Companies like Embrapa and Bayer introduced soybean varieties adapted to drier regions, such as Matopiba (Maranhão, Tocantins, Piauí, and Bahia). These seeds demonstrated up to a 15% productivity increase in water-deficit areas.

• Next-Generation Bt Corn:

  Newly developed Bt corn hybrids featured enhanced resistance to caterpillars and herbicide tolerance, reducing the need for pesticide applications and lowering costs for farmers.

• CRISPR-Edited Sugarcane:

  A CRISPR-edited sugarcane variety was released, boasting higher sucrose content and resistance to diseases such as orange rust.

• Bollgard^® 3 XtendFlex^® Platform by Bayer:

  This technology expanded weed protection by integrating tolerance to dicamba and glufosinate ammonium in addition to glyphosate.

Results in Numbers:

• Soybean: Pest-resistant varieties increased average productivity by 12% in the South and Midwest regions.

• Sugarcane: The CRISPR-edited cultivar increased yield by 10 tons per hectare.

• Cost Reduction: The adoption of pest-resistant seeds and advanced technologies led to considerable savings per hectare in pesticide usage.

The biotechnology advances of 2024 reaffirmed Brazilian agribusiness's commitment to sustainability and innovation. Solutions developed by companies and institutions such as Embrapa highlighted how science can address food production challenges while protecting the environment and boosting profitability for farmers.    

These innovations are crucial steps in consolidating Brazil as a global leader in sustainable agricultural technology.

7. Sustainable Models:

ILPF – Crop-Livestock-Forest Integration

In 2024, ILPF (Crop-Livestock-Forest Integration) solidified its position as a sustainable production model in Brazil, combining diverse agricultural activities within the same area to enhance economic efficiency and promote environmental conservation.

This system integrates grain cultivation, livestock farming, and forestry, creating synergies that:

• Improve soil health and reduce erosion.

• Optimize land use by diversifying income streams.

• Sequester carbon and contribute to climate change mitigation.

As more farmers adopted ILPF practices, Brazil strengthened its leadership in sustainable agriculture, showcasing how innovation can harmonize productivity and environmental stewardship.

    Between the 2015/2016 and 2020/2021 harvests, the area dedicated to ILPF (Integrated Crop-Livestock-Forest systems) in Brazil grew by approximately 52%, reaching around 17 million hectares.

Key Benefits of ILPF:

• Environmental Sustainability: ILPF enhances soil fertility, aids in carbon sequestration, and contributes to biodiversity conservation.

• Productive Efficiency: The integration of crops allows for more efficient use of natural resources, resulting in increased productivity and income diversification for producers.

ILPF is internationally recognized as a regenerative agricultural practice, positioning Brazil as a leader in sustainable solutions for agricultural and livestock production.

In the same year, the ILPF Network launched the "ILPF Digital" app, developed with support from the Land Innovation Fund, to map and optimize the management of integrated systems across the country.

The ABC+ Plan from the Ministry of Agriculture, Livestock, and Supply aims to expand ILPF adoption by 10 million hectares by 2030, reinforcing Brazil’s commitment to low-carbon agricultural practices.

8. Judicial Recoveries:

Judicial recoveries of large Brazilian agribusiness companies have had significant impacts on the sector. AgroGalaxy, one of the country's largest agricultural retail and input distribution platforms, filed for judicial recovery in September 2024, with a debt of R$ 4.678 billion.

This reflects the financial challenges faced by agribusiness companies, resulting in a rise in judicial recovery filings. In Q3 2024, the agribusiness sector recorded 264 filings, a 20.5% increase compared to the same period the previous year.

The collapse of major companies can undermine investor and creditor confidence, affecting access to the credit and capital needed to drive the sector forward. Without proper solutions, this could lead to higher production costs, reduced investments, and ultimately impact agribusiness growth.

Moreover, concentrated debt in a few companies may create a domino effect, disrupting the entire production chain, from suppliers to farmers. The financial instability of these large companies can compromise the supply of agricultural inputs, leading to challenges for producers and, ultimately, a reduction in national agricultural production.

9. Record Agricultural Credit:

In 2024, the Federal Government launched the 2024/2025 Crop Plan, allocating R$ 400.59 billion to finance Brazilian agribusiness, a 10% increase compared to the previous crop season.

The 2024/2025 Crop Plan continues to promote sustainable agricultural practices. Producers with an approved Rural Environmental Registry (CAR) or those adopting sustainable practices can receive up to a 1-percentage-point reduction in interest rates on operating credit.

In addition to the R$ 400.59 billion, R$ 108 billion in Agribusiness Credit Letters (LCA) are available for Rural Product Notes (CPR), totaling R$ 508.59 billion to foster the national agricultural sector.

This record volume of agricultural credit aims to modernize agricultural production, enabling producers of all sizes to invest in cutting-edge technologies and quality infrastructure, boosting productivity and competitiveness in the global market.

10. Controversies and Attacks on Brazilian Agribusiness:

2024 was marked by controversies surrounding Brazilian agriculture’s sustainability, involving both European countries and companies.

In October 2024, Jurgen Esser, Global CFO of Danone, stated that the company no longer purchased soy from Brazil, implying concerns over the product’s sustainability. This declaration sparked intense reactions within the Brazilian agricultural sector, including boycotts of the brand’s products. Danone later apologized to the Ministry of Agriculture, clarifying that it continued purchasing Brazilian soy and that its earlier statements had been misinterpreted.

In November, Carrefour, a French retail group, announced the suspension of meat sales from Mercosur countries, including Brazil, citing concerns over agricultural practices in these regions. This decision provoked negative reactions in Brazil, with calls for boycotts of Carrefour supermarkets. Carrefour subsequently apologized, clarifying that it did not intend to oppose French agriculture to Brazilian agriculture and reaffirmed its commitment to Brazilian agribusiness.

The Brazilian government, under pressure from agribusiness influencers such as Marcos Fava Neves and Antonio Cabrera, strongly condemned the statements from European companies, labeling them as ″rash and unfounded.″

Meanwhile, European farmers began protesting against the EU-Mercosur free trade agreement, arguing that increased imports of South American agricultural products would harm the bloc’s agriculture. These protests highlight concerns over unfair competition and the environmental and sustainability standards of imported products.

These controversies underscore the tensions between Brazilian agriculture and the ″alleged″ sustainability standards demanded by European countries and companies, emphasizing the need for dialogue and alignment on sustainable agricultural practices in international trade.

In 2024, Brazilian agribusiness demonstrated resilience and adaptability, maintaining its relevance in both national and international economic scenarios. The year reinforced Brazil’s leadership in the global agricultural sector, not only as a major exporter but also as an innovator and advocate for sustainability.

Beyond the criticisms faced by Brazilian farmers in 2024, there were also numerous accolades, such as recognition for sustainable agricultural practices at COP29. The adoption of digital technologies, the use of bio-inputs, and strict adherence to the Forest Code were widely praised.

Several Nobel laureates recognized the excellence of Brazilian agriculture, highlighting it as a model of success and innovation. Among them, Rattan Lal, 2007 Nobel Peace Prize laureate, frequently praised the transformation of Brazilian agriculture since his first visit in 1975. He often states that the country has become an agricultural powerhouse due to scientific excellence and the effective implementation of public policies, resulting in sustainable and efficient agricultural production.

These international recognitions highlight the importance of Brazilian agriculture on the global stage, showcasing its significant contribution to food security and sustainable development.

As we look ahead to 2025, it is crucial for those unfamiliar with Brazilian agribusiness to prioritize information from specialized and recognized sources. This will prevent ″digital influencers″ with limited knowledge of the sector from distorting and impoverishing debates that could otherwise be more rational and supportive of our farmers.