The cost of soybean production for the 2023/24 harvest in Mato Grosso shows a 4.8% decrease compared to the 2022/23 season, which is currently being harvested. The reduction is a reflection of the drop in input prices.
According to the survey, carried out monthly by the Mato Grosso Institute of Agricultural Economics (Imea), the expense for the so-called cost of the 2023/24 harvest, which involves spending on seeds, fertilizers, pesticides, mechanized operations and labor, was estimated at R$4,674.42 per hectare.
The value represents a small decrease compared to November, of 0.32%.
Input prices are reflected in the cost of soybeans
The reduction in the cost of the 2023/24 harvest is driven by the drop in input prices compared to the 2022/23 harvest, with emphasis on the cost of seeds, which fell by 13.18%, and fertilizers and correctives, which fell by 18.7%.
Pesticides, on the other hand, rose by 20% compared to the last season. Labor is projected to be 40% more expensive.
According to Imea superintendent Cleiton Gauer, it is extremely important for soybean producers to monitor production costs.
“Especially for each cost line, to guide producer negotiations and adapt risk management. For the producer to analyze the exchange ratio at a time when fertilizers have been falling compared to last year and even indicating better times when the producer commits to less soybeans compared to last year to buy the same amount of inputs.”
Source: Canal Rural