According to Conab, brazil’s summer crop harvest in 2022/23 may exceed the country’s total storage capacity for the first time in 20 years, Reuters reports.
In particular, Brazil can harvest a total of 189.5 million tons of soybeans, corn and rice, while the total storage capacity is 187.9 million tons.
This situation highlights the problems with logistics in Brazil. It also calls into question the plans of the administration of the new president of the country to restore state stocks of rice, soybeans and maize in order to ensure food security.
As Paulo Polesi, the chief financial officer of Kepler Weber granaries, noted, the shortage of storage facilities has increased the need for additional investment in similar structures in Brazil. He specified that at least 10 billion reais of investment ($ 1.96 billion) are required to eliminate the shortage of storage facilities.
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