Brazil Set to Reveal Strategy for Expanding Farmland by 60%

Brazil Set to Reveal Strategy for Expanding Farmland by 60%

24 Nov, 2023

Brazil Set to Reveal Strategy for Expanding Farmland by 60%

 

President Luiz Inacio Lula da Silva is set to reveal a groundbreaking plan at the upcoming COP28 climate summit held by the UN. The strategy aims to boost Brazil's agricultural lands by 60% while ensuring no contribution to deforestation, as confirmed by his government.

Brazil plans to repurpose degraded grazing areas into farmland, announced a week ahead of the climate summit scheduled to commence in Dubai on November 30.

Roberto Perosa, an official from the Ministry of Agriculture, highlighted, "We identified nearly 160 million hectares (395 million acres) of grazing areas, with around 40 million hectares (99 million acres) found in degraded grazing zones, suitable for agricultural cultivation."

"With targeted investments in soil improvement, these areas can be transformed into arable land."

The government is committed to investing $120 billion over the next decade to expand the country's agricultural acreage, positioning Brazil as a global agricultural powerhouse.

This ambitious move aims to escalate Brazil's farmland from 65 million to 105 million hectares without resorting to tree felling, a significant concern in the Amazon region.

Perosa mentioned that ongoing private initiatives can convert approximately 1.5 million hectares of pastureland annually, a number the government intends to amplify with support from Brazilian financial institutions.

President Lula, known for his environmental advocacy and commitment to safeguarding the Amazon rainforest, has made sustainability a top priority. However, agriculture remains a vital pillar of the economy, wielding substantial political influence.

Under Lula's far-right predecessor Jair Bolsonaro, deforestation in the Amazon notably surged, often attributed to farmers, miners, and cattle ranchers.

Lula has pledged to halt illegal deforestation by 2030, aligning with his administration's environmental objectives while propelling sustainable agricultural expansion.

 

 


Related News

Brazil's Petrobras Unveils $111B Plan, Promises $10B in Dividends

20 Nov, 2024

Brazilian state-run oil company Petrobras (PETR4.SA) has unveiled an ambitious…
Read More
President Prabowo Discusses Strategic Cooperation at Indonesia-Brazil Business Forum

19 Nov, 2024

President Prabowo Subianto recently participated in the Indonesia-Brazil Business Forum,…
Read More
PM Attends Vietnam-Brazil Business Forum in Rio de Janeiro

18 Nov, 2024

 Prime Minister Pham Minh Chinh attended a Vietnam-Brazil business forum…
Read More
Courtesy Call from Japan-Brazil Business Council Members at Plenary Meeting

06 Nov, 2024

Prime Minister Ishiba welcomed members of the Japan-Brazil Business Council…
Read More
McLaren Achieves Impressive One-Two Finish in Brazil Sprint Race

04 Nov, 2024

In a remarkable Sprint at Interlagos, McLaren achieved a flawless…
Read More
Brazil's Business Leaders Hesitant to Choose Between U.S. and China

28 Oct, 2024

Brazilian leaders navigate a challenging diplomatic landscape, striving to maintain…
Read More

© 2024 Business International News. All rights reserved | Powered by Cred Matters.