BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (LND): Análisis PESTLE [Actualizado en Ene-2025]

En el panorama dinámico de la agricultura brasileña, Brasilagro emerge como un jugador fundamental que navega por intersecciones complejas de mercados globales, innovación tecnológica y desafíos ambientales. Este análisis integral de mortero presenta las dimensiones multifacéticas que dan forma a la trayectoria estratégica de la Compañía, explorando cómo los marcos políticos, las fluctuaciones económicas, las expectativas sociales, los avances tecnológicos, las limitaciones legales e imperativos ambientales influyen colectivamente en el ecosistema operativo de Brasilagro. Al diseccionar estos factores externos críticos, iluminamos las intrincadas vías que definen el potencial de esta empresa agrícola prominente para un crecimiento y resiliencia sostenibles en un mundo cada vez más interconectado.

Brasilagro - Companhia Brasileira de Propiedades Agrícolas (LND) - Análisis de mortero: Factores políticos

Política agrícola brasileña que apoya la agricultura a gran escala y la agricultura orientada a las exportaciones

El gobierno brasileño ha implementado políticas específicas para apoyar la producción agrícola a gran escala:

Aspecto político	Detalles específicos	Impacto financiero
Líneas de crédito agrícolas	Sistema Nacional de Crédito Rural (SNCR)	R $ 268.4 mil millones asignado para financiamiento agrícola en 2023
Incentivos de exportación	Exenciones fiscales para las exportaciones agrícolas	Aproximadamente el 35% de la reducción en los impuestos a la exportación para productos agrícolas

Incentivos gubernamentales para el desarrollo de la tierra agrícola y las prácticas agrícolas sostenibles

Los incentivos del gobierno clave incluyen:

• Programa ABC (agricultura baja en carbono) que proporciona R $ 3.5 mil millones en créditos subsidiados
• Exenciones fiscales para inversiones agrícolas sostenibles
• Tasas de interés reducidas para proyectos de conservación ambiental

Inestabilidad política potencial que afecta la inversión agrícola

Factores de riesgo político para las inversiones agrícolas:

Categoría de riesgo	Impacto potencial	Probabilidad
Políticas de reforma agraria	Redistribución de la tierra potencial	Medio (estimado 25% de probabilidad)
Cambios regulatorios	Posibles modificaciones en los impuestos agrícolas	Alto (estimado 45% de probabilidad)

Entorno regulatorio complejo

Complejidad regulatoria en el sector agrícola brasileño:

• Licencia ambiental: 14 Pasos regulatorios diferentes para el desarrollo de la tierra
• Tiempo promedio para obtener permisos de tierras agrícolas: 18-24 meses
• Costos de cumplimiento estimados en 3-5% de la inversión agrícola total

Brasilagro - Companhia Brasileira de Propiedades Agrícolas (LND) - Análisis de mortero: Factores económicos

El importante papel de Brasil en los mercados globales de productos agrícolas

Brasil se clasifica como el mayor exportador del mundo de soja, café, azúcar y carne de res. En 2023, las exportaciones agrícolas de Brasil alcanzaron los $ 125.4 mil millones, lo que representa el 14.3% del valor total de exportación del país.

Producto	Volumen de exportación (2023)	Cuota de mercado global
Soja	95.4 millones de toneladas métricas	35.2%
Café	43.8 millones de bolsas	28.5%
Azúcar	34.6 millones de toneladas métricas	22.7%

Fluctuando los precios de los productos básicos que afectan las fuentes de ingresos de Brasilagro

La volatilidad del precio de los productos básicos influye significativamente en el desempeño financiero de Brasilagro. En 2023, los precios de la soja oscilaron entre $ 12.50 y $ 16.75 por bushel, creando incertidumbre sustancial de ingresos.

Producto	Rango de precios 2023	Precio medio
Soja	$ 12.50 - $ 16.75/bushel	$ 14.62/bushel
Maíz	$ 4.75 - $ 6.25/bushel	$ 5.50/bushel

Atractivo de la inversión extranjera en tierras agrícolas brasileñas

La tierra agrícola brasileña atrae una importante inversión extranjera. En 2023, la inversión extranjera directa en los sectores agrícolas brasileños alcanzó los $ 4.3 mil millones, con un precio promedio de la tierra de $ 3,750 por hectárea.

Métrico de inversión	Valor 2023
Inversión agrícola extranjera	$ 4.3 mil millones
Precio promedio de la tierra por hectárea	$3,750
Tasa de crecimiento de la inversión extranjera	7.2%

Volatilidad del tipo de cambio de divisas que afecta el comercio agrícola internacional

Las fluctuaciones del tipo de cambio real (BRL) brasileño afectan la competitividad de la exportación agrícola. En 2023, el tipo de cambio BRL/USD varió entre 4.85 y 5.35, creando importantes desafíos comerciales.

Pareja	Rango de tasas de cambio 2023	Tasa promedio
BRL/USD	4.85 - 5.35	5.10
BRL/EUR	5.30 - 5.85	5.57

Brasilagro - Companhia Brasileira de Propiedades Agrícolas (LND) - Análisis de mortero: Factores sociales

Creciente demanda global de prácticas agrícolas sostenibles y ambientalmente responsables

Según el informe del mercado global de agricultura sostenible, el tamaño del mercado se valoró en USD 13.5 mil millones en 2022 y se proyecta que alcanzará los USD 23.7 mil millones para 2030, con una tasa compuesta anual del 7.2%.

Métricas agrícolas sostenibles	Valor 2022	2030 Valor proyectado
Tamaño del mercado global	USD 13.5 mil millones	USD 23.7 mil millones
Tasa de crecimiento anual compuesta	7.2%	7.2%

Aumento de la conciencia del consumidor sobre la producción de alimentos y la sostenibilidad agrícola

Según una encuesta de IQ Nielsen 2023, el 78% de los consumidores a nivel mundial están dispuestos a pagar una prima por los productos agrícolas producidos de manera sostenible.

Preferencias de sostenibilidad del consumidor	Porcentaje
Consumidores dispuestos a pagar la prima por productos sostenibles	78%
Los consumidores priorizan el impacto ambiental	65%

Presiones sociales con respecto al uso de la tierra y los derechos indígenas en las regiones agrícolas

En Brasil, aproximadamente el 13.5% del territorio nacional se reconoce oficialmente como tierras indígenas, que cubren 505 territorios indígenas a partir de 2023.

Métricas de tierras indígenas	Valor
Porcentaje de territorio brasileño	13.5%
Número de territorios indígenas	505

Cambios demográficos que afectan el trabajo agrícola y la dinámica de la fuerza laboral

La fuerza laboral agrícola de Brasil ha experimentado cambios significativos, y la población rural disminuyó del 32% en 2000 a aproximadamente el 15,6% en 2022.

Indicadores de cambio demográfico	2000	2022
Porcentaje de población rural	32%	15.6%
Edad promedio de los trabajadores agrícolas	45.5 años	48.3 años

Brasilagro - Companhia Brasileira de Propriedades Agrícolas (LND) - Análisis de mortero: factores tecnológicos

Tecnologías agrícolas de precisión avanzada que mejoran la gestión de cultivos

Inversión en tecnología agrícola de precisión: Brasilagro asignó R $ 12.5 millones en 2023 para actualizaciones de infraestructura tecnológica.

Tipo de tecnología	Tasa de adopción	Mejora de la eficiencia
Maquinaria guiada por GPS	78%	Aumento del rendimiento del cultivo del 15,3%
Sensores de suelo	62%	22.7% de optimización de recursos
Tecnología de tasa variable	55%	18.6% Reducción de costos

Sistemas de monitoreo de satélite y drones para la evaluación de tierras agrícolas

Cobertura de monitoreo de satélite: 185,000 hectáreas bajo vigilancia satélite continua en 2023.

Tecnología de monitoreo	Área monitoreada (hectáreas)	Frecuencia de evaluación
Imágenes satelitales de alta resolución	135,000	Quincenal
Vigilancia de drones	50,000	Semanalmente

Biotecnología agrícola emergente y técnicas de mejora de cultivos genéticos

Inversión en investigación de biotecnología: R $ 8.7 millones dedicado a la investigación de mejora genética en 2023.

Tipo de cultivo	Enfoque de modificación genética	Mejora de rendimiento proyectada
Soja	Resistencia a la sequía	25% aumentó la resistencia
Maíz	Resistencia a las plagas	30% de uso de pesticidas reducido

Plataformas digitales para la gestión de datos agrícolas y la toma de decisiones

Inversión de plataforma digital: R $ 5.3 millones gastados en sistemas de gestión de datos en 2023.

Característica de la plataforma	Tasa de adopción de usuarios	Mejora de la eficiencia de la decisión
Monitoreo de cultivos en tiempo real	85%	40% de toma de decisiones más rápida
Análisis predictivo	72%	35% mejoró la asignación de recursos

Brasilagro - Companhia Brasileira de Propiedades Agrícolas (LND) - Análisis de mortero: Factores legales

Regulaciones ambientales estrictas que rigen el uso de la tierra agrícola

El Código Forestal de Brasil (Ley 12.651/2012) exige requisitos legales específicos para la preservación de la tierra:

Bioma	Requisito de reserva legal	Área de preservación permanente
Amazonas	80% de la tierra	35% del área de propiedad total
Cerrado	35% de la tierra	20% del área de propiedad total
Bosque atlántico	20% de la tierra	30% del área de propiedad total

Propiedad y adquisición compleja de marcos legales de adquisición

Restricciones de propiedad de la tierra extranjera:

Categoría	Máximo de tierras	Requisito legal
Individuo extranjero	50 módulos	Permiso de residencia brasileña
Entidad corporativa extranjera	Limitado por la constitución brasileña	Registro con incrA

Requisitos de cumplimiento para prácticas agrícolas sostenibles

Métricas clave de cumplimiento legal:

• Licencias ambientales: obligatoria para todas las operaciones agrícolas
• Seguimiento de emisiones de carbono: requerido para propiedades de más de 1,000 hectáreas
• Protocolos de conservación del suelo: monitoreo estricto por MAPA (Ministerio de Agricultura)

Regulaciones comerciales internacionales que afectan las exportaciones agrícolas

Regulación de exportación	Requisito de cumplimiento	Multa por incumplimiento
Certificado fitosanitario	Obligatorio para todas las exportaciones agrícolas	Suspensión de exportación
Registro de exportación de MAPA	Verificación de documentación requerida	Sanciones financieras de hasta R $ 100,000
Normas agrícolas de la OMC	Protocolos de calidad y trazabilidad estrictos	Restricciones comerciales

Brasilagro - Companhia Brasileira de Propiedades Agrícolas (LND) - Análisis de mortero: Factores ambientales

Impacto del cambio climático en la productividad agrícola y la gestión de la tierra

Según el informe nacional de cambio climático de Brasil, las regiones agrícolas en Brasil están experimentando aumentos de temperatura de 1.4 ° C entre 2000-2022. Las áreas operativas de Brasilagro en Mato Grosso y Bahía han visto reducciones de rendimiento de cultivos del 12,6% debido a la variabilidad climática.

Región	Aumento de temperatura (° C)	Impacto en el rendimiento del cultivo (%)
Mato Grosso	1.6	-14.3
Bahía	1.2	-10.9

Creciente énfasis en las prácticas agrícolas sostenibles y regenerativas

Brasilagro ha invertido R $ 22.7 millones en tecnologías agrícolas sostenibles. Los esfuerzos de secuestro de carbono cubren 37,500 hectáreas con un potencial de compensación anual de carbono de 215,000 toneladas métricas.

Práctica sostenible	Inversión (r $)	Cobertura terrestre (hectáreas)
Agricultura sin labranza	12,500,000	25,000
Secuestro de carbono	10,200,000	37,500

Estrategias de gestión de recursos hídricos y conservación

Brasilagro implementa técnicas de riego de precisión, reduciendo el consumo de agua en un 34.5% en las operaciones agrícolas. La conservación anual del agua asciende a 8,7 millones de metros cúbicos.

Técnica de gestión del agua	Ahorro de agua (%)	Volumen anual guardado (M³)
Riego por goteo	28.6	5,600,000
Monitoreo de precisión	5.9	3,100,000

Preservación de la biodiversidad en paisajes agrícolas

Brasilagro mantiene el 42% de las tenencias de tierras como reservas de ecosistemas nativos. Los esfuerzos de conservación protegen 15 especies en peligro de extinción en 67,500 hectáreas de hábitat natural preservado.

Métrico de conservación	Área total (hectáreas)	Especies en peligro de extinción protegidas
Reservas nativas de ecosistemas	67,500	15
Porcentaje de preservación	42%	N / A

BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (LND) - PESTLE Analysis: Social factors

Increasing global consumer demand for organic, traceable, and ESG-compliant food products.

You need to recognize that the global consumer mindset has fundamentally shifted; it's no longer just about yield, but about provenance and sustainability (ESG). The Brazilian organic food market is a clear indicator of this trend, showing explosive growth that BrasilAgro must capitalize on. The market reached a size of USD 3.7 Billion in 2024 and is projected to skyrocket to USD 15.5 Billion by 2033, reflecting a Compound Annual Growth Rate (CAGR) of 16.5% over the forecast period.

This isn't a niche anymore. Consumers are actively seeking products free from synthetic pesticides and genetically modified organisms (GMOs). The challenge, and the opportunity, is pricing: 83% of organic food consumers in Brazil still perceive these products as more expensive than conventional alternatives, which means you have to justify that premium through impeccable traceability and certification. That's where the ESG (Environmental, Social, and Governance) compliance becomes a competitive edge, not just a compliance cost.

• Organic market CAGR (2025-2033): 16.5%
• 2024 Market Size: USD 3.7 Billion
• Consumer perception: 83% say organic is more expensive

Acute labor shortages in rural areas accelerate the necessity for large-scale mechanization and automation.

The labor market in rural Brazil is at a critical juncture, and it's forcing the hand of large-scale operators like BrasilAgro toward automation. Rural-to-urban migration has created an acute labor shortage, with a staggering 70% of rural properties reporting difficulties in hiring qualified personnel as of early 2025. This shortage is compounded by employee turnover in the agricultural sector, which has increased by 35% in the last decade alone.

The solution is capital investment in smart farming. The Brazil agricultural machinery market reached a valuation of USD 3.2 Billion in 2025, directly reflecting this accelerated mechanization drive. The government is even pushing this, with the New Industry Brazil initiative allocating BRL 546.6 Billion to boost agro-industrial chains through 2029, with specific targets to increase family farming mechanization rates from 25% to 28% by 2026. You defintely need to be ahead of that curve, not just meeting it.

Metric (2025 Data)	Value/Amount	Strategic Implication for BrasilAgro
Rural Properties Reporting Hiring Difficulty	70%	Mandates investment in high-capacity, automated equipment.
Brazil Agricultural Machinery Market Value	USD 3.2 Billion	Confirms the strong market for mechanization solutions.
Government Program Allocation (New Industry Brazil)	BRL 546.6 Billion (Total by 2029)	Signals long-term government support for technological adoption.

Social pressure and NGO scrutiny on land use and Indigenous/Quilombola community rights near development projects.

Land use in Brazil is a high-stakes social and political issue, and the scrutiny from non-governmental organizations (NGOs) and international bodies is intense. For a company focused on land acquisition and development, managing this social license to operate is paramount. Recent government actions highlight the political sensitivity, such as the demarcation of ten Indigenous lands announced in November 2025, which brings the total Indigenous land area to approximately 117.4 million hectares, or about 13.8% of Brazil's territory.

The rights of Quilombola communities-descendants of formerly enslaved people-are also a major focus. Brazil is home to 1,330,186 Quilombola people across over 7 thousand communities. The government signed an Action Plan for the National Quilombola Titling Agenda in April 2025, acknowledging the need to expedite a process that can take 15 to 20 years. Any development near these areas faces immediate, high-profile social pressure and legal risk. Your land portfolio strategy must now incorporate a rigorous social due diligence (SDD) process that goes beyond simple legal title.

Urbanization drives domestic food demand, but also increases the political focus on food inflation.

Brazil is highly urbanized, meaning domestic food demand is concentrated in cities, but this concentration also makes food price volatility a political flashpoint. The Extended National Consumer Price Index (IPCA) for the Food and Beverages group rose 1.17% in March 2025, contributing 45% of the monthly inflation index. This is a huge political problem because it directly impacts the average citizen's wallet.

The political focus on food inflation is clear: by March 2025, 58% of Brazilians reported reducing food purchases due to rising prices, and among the poorest strata, this figure rose to 67%. The cumulative IPCA over 12 months was 5.53% in April 2025, with food and beverages outpacing the general index, rising 7.25% over the same period (February 2025 data). This pressure means the government will continue to focus on policies that prioritize domestic supply and price stability for essential food crops, sometimes conflicting with export-focused, large-scale agriculture.

BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (LND) - PESTLE Analysis: Technological factors

Widespread adoption of precision agriculture tools, including satellite monitoring of over 185,000 hectares.

The core of BrasilAgro's operational efficiency in the 2025 fiscal year hinges on its advanced use of precision agriculture (PA) technologies, essentially treating every square meter of land as a unique investment. You can't manage what you don't measure, and for a large-scale operator, that means moving beyond simple field-level data.

The company's significant scale allows for the cost-effective deployment of these tools across its vast holdings. For the 2025/2026 crop year, BrasilAgro estimates a total planted area of 172,610 hectares, which is the direct area benefiting from satellite monitoring and data-driven input application. This is a massive area to manage, and satellite-based monitoring is the only way to do it efficiently. This technology provides real-time data on vegetation health (NDVI), soil conditions, and water stress, enabling surgical-like management of resources.

Here's the quick math: optimizing inputs across 172,610 hectares means even a small percentage reduction in fertilizer or water use translates into millions of dollars in savings and a significant environmental benefit.

AI adoption is projected to increase crop yields by up to 20% by 2025 through optimized input use.

Artificial Intelligence (AI) is the engine translating raw satellite data into actionable decisions, moving agriculture from reactive to predictive. For the Brazilian market, AI adoption is projected to boost average crop yields by 15% to 20% by 2025, while also cutting input costs by up to 25% through smart resource management.

BrasilAgro is already mapping this national trend into its own forecasts. The company projects a total grain and cotton production of 442,587 tons for the 2025/2026 cycle, which is a substantial 21% increase from the estimated 366,059 tons in the prior 2024/2025 crop year. That 21% jump aligns perfectly with the upper bound of the industry's AI-driven yield increase projections. It's not just luck; it's optimized planting, targeted pest control, and predictive analytics at scale.

Metric	2024/2025 Estimate (Tons)	2025/2026 Projection (Tons)	Projected Increase
Total Grain & Cotton Production	366,059	442,587	21%
Soybean Output	(Not explicitly provided, using 2025/2026 projection)	64,872	(Specific increase not provided, but factored in 21% total)
Corn Output (First Crop)	(Not explicitly provided, using 2025/2026 projection)	99,230	(Specific increase not provided, but factored in 21% total)

Continued investment in biotechnology for crops like soy and corn to enhance drought and pest resistance.

Biotechnology is the silent partner to digital tech, providing the resilient seeds that make the precision input decisions worthwhile. The Brazilian agricultural biotechnology market in 2025 is focused on genetically improved crop varieties, especially soy and corn, tailored for the country's unique environmental challenges.

For BrasilAgro, which relies heavily on these two crops, this means:

• Drought-Tolerant Varieties: Mitigating the impact of inconsistent rainfall, a critical risk factor noted in the 2025/2026 forecasts.
• Pest-Resistant Seeds: Reducing the need for chemical pesticides, which lowers input costs and supports the company's environmental responsibility goals.
• Higher Yield Potential: Biotech seeds are the foundation that allows precision agriculture to extract maximum output from every hectare.

This biological investment is defintely a necessary hedge against the increasing climate volatility that has impacted past crop years, like the 3% reduction in planted area reported in the 2024/2025 crop year due to adverse weather.

Digital literacy gaps remain a barrier for smaller producers, but large operators benefit from data platforms.

The technology landscape is not uniform across Brazil, creating a clear competitive advantage for large, sophisticated operators like BrasilAgro. While the company benefits from scalable, insightful analytics for thousands of plots, smaller producers face significant structural barriers.

The primary obstacles come down to access and education. Barriers include high upfront costs for equipment and software, plus a significant digital literacy gap. Honestly, the data shows the scale of the problem: approximately 80% of rural producers in Brazil have only primary education, which is a major hurdle for adopting complex digital platforms. Back in 2017, about 3.5 million rural establishments-around 70%-still lacked internet access, though connectivity is improving.

This digital divide is a strategic opportunity for BrasilAgro. It means the company's investment in data platforms, skilled agronomists, and IT infrastructure creates a deep, defensible moat, allowing them to achieve superior yields and lower costs compared to the majority of the market. Smallholders are struggling to adopt, but large corporate farms are flying with data.

BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (LND) - PESTLE Analysis: Legal factors

New General Environmental Licensing Act (Law No. 15,190/2025) Aims to Streamline Licensing, But Faces Legal Challenges

You're watching Brazil's regulatory environment closely, and the new General Environmental Licensing Act, Federal Law No. 15,190/2025, is a major shift. This law, enacted on August 8, 2025, is meant to bring a national standard to what was a fragmented system, which is defintely a win for predictability. But it's not a simple green light.

The core benefit for BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (LND) is the potential for faster development. The law introduces new, streamlined licenses and, critically, exempts certain low-impact agricultural activities from the licensing requirement altogether, provided the property is compliant with environmental laws. This cuts bureaucracy for your core business of cultivating species and managing extensive or semi-intensive livestock. Still, the law faced 63 presidential vetoes and is already seeing a high potential for judicialization-legal challenges that could slow down its implementation. The law itself won't fully enter into force until February 2026, which is 180 days after its publication.

• Law No. 15,190/2025 enacted on August 8, 2025.
• Exempts licensing for extensive/semi-intensive livestock on compliant properties.
• New Special Environmental License (LAE) is already in force via Provisional Measure No. 1,308/2025.

Increased Severity of Criminal Sanctions for Operating a Potentially Polluting Activity Without a Valid License

While the new licensing law aims to simplify things, the flip side is a sharp increase in the risk of non-compliance. The same law amends the Environmental Crimes Act, significantly raising the stakes for operating without a valid environmental license. This is a clear signal: the government wants fast, compliant projects, but they will punish non-compliance more harshly. You need to be certain your internal compliance is flawless, especially when converting land.

Here's the quick math on the risk: The penalty for operating a potentially polluting activity without a license now includes imprisonment of six months to two years, or a fine, or both. That prison sentence is doubled if the activity required an Environmental Impact Study (EIA). This is a material risk for any large-scale land development, so internal audits must be a priority for all land acquisitions and conversions in the 2025 fiscal year.

EU Deforestation Regulation (EUDR) Takes Full Effect in December 2025, Requiring Proof of Deforestation-Free Supply Chains for Soy and Cattle Exports

The European Union Deforestation Regulation (EUDR) is no longer a distant threat; it's a near-term reality. For large operators like BrasilAgro, the regulation becomes binding on December 30, 2025. This means every batch of soy and cattle products you export to the EU must have a Due Diligence Statement proving it did not come from land deforested after the December 31, 2020 cutoff.

The EU is Brazil's second-largest trading partner, and EUDR-covered products accounted for a massive 30% of Brazil's total trade value in 2023. So, compliance is vital for market access. The good news is that compliance is achievable. For example, a September 2025 study showed that 97.21% of soybean farms in Mato Grosso-a state responsible for approximately 27% of Brazil's total soybean output-already meet the EUDR's criteria. Your action is clear: ensure your traceability systems are fully integrated with the EUDR Information System for submitting Due Diligence Statements.

EUDR Compliance Factor	Requirement/Deadline	Impact on Brazilian Agribusiness (2023-2025)
Enforcement Date (Large Operators)	December 30, 2025	Mandatory due diligence for 30% of Brazil's total trade value.
Deforestation Cutoff Date	December 31, 2020	Requires geolocation data and proof of zero-deforestation since this date.
Soybean Compliance (Mato Grosso)	Must be deforestation-free	97.21% of farms in this key state are already compliant as of September 2025.

Tax Reform Introduces New Consumption Taxes (IBS/CBS) in 2026, with a 60% Rate Reduction for Agricultural Products

Brazil's long-awaited consumption tax reform is moving forward, and it's a net positive for agribusiness cash flow. Complementary Law No. 214/2025, sanctioned in January 2025, establishes the new dual Value-Added Tax (VAT) system: the Contribution on Goods and Services (CBS) and the Tax on Goods and Services (IBS). The transition starts in 2026 with a 1% test rate (0.9% CBS and 0.1% IBS).

The major opportunity for BrasilAgro is the preferential tax treatment. Agricultural products (excluding the national basic food basket, which gets a zero rate) will be subject to a 60% reduction in the standard IBS and CBS rates. This reduction, coupled with the new full non-cumulative system-where virtually all taxed acquisitions generate credits-should significantly boost your cash flow and reduce the final tax cost on your production. Plus, the law allows for payment postponement on the supply/import of agricultural inputs, meaning you only pay the tax when you sell your final product. That's a huge working capital benefit.

BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (LND) - PESTLE Analysis: Environmental factors

Climate change is causing delayed rainy seasons, increasing the risk for the high-value safrinha (second corn crop).

You're operating in a climate that is fundamentally changing, and that change is hitting your core operations, especially the second corn crop, or safrinha. The data shows Brazilian agricultural regions have already experienced temperature increases of approximately 1.4°C between 2000 and 2022, which is driving climate variability.

This variability is not abstract; it's a direct threat to your bottom line. BrasilAgro's operational areas have already seen crop yield reductions of 12.6% due to climate unpredictability. A delayed rainy season shortens the crucial planting window for the safrinha, increasing the risk of the crop maturing during the dry season, so every day matters.

The financial exposure is clear. For the 2025/2026 crop year, the estimated cost of production for Milho Safrinha is high at R\$4,211/ha, a significant capital outlay directly exposed to a shortened, riskier growing cycle. Honestly, optimizing that planting window is the single most important action to protect your margins this year.

Major trading partners like Cargill have committed to eliminating deforestation and land conversion from their supply chains by 2025.

The market is shifting from voluntary compliance to mandatory exclusion; this is a hard deadline. Major trading partners, including Cargill, have accelerated their commitment to eliminate deforestation and land conversion from their direct and indirect supply chains in Brazil by the end of 2025.

This commitment covers key row crops like soy, corn, wheat, and cotton-all central to BrasilAgro's portfolio. To be fair, Cargill estimates that 93.72% of its total sourced volume in Brazil is already Deforestation and Conversion Free (DCF), but that remaining 6.28% is where the scrutiny will focus.

This means your traceability and land-use history must be impeccable. Any farm property with recent, unsanctioned land conversion will become a stranded asset, locked out of major export channels. The global supply chain is defintely closing the door on non-compliant land.

Climate-driven changes may negatively impact 51% of agricultural land in the Amazon and Cerrado by 2030.

The long-term regional climate outlook is a major strategic risk. Projections indicate that the vicious cycle of climate change and deforestation could severely damage or wipe out nearly 60% of the Amazon forest by 2030. This ecological collapse would fundamentally alter rainfall patterns across the entire agricultural belt, including the Cerrado.

The shift is already driving land-use change in the Cerrado biome, a key operating region. The need to find more resilient land is pushing new agricultural expansion into areas that are climatically marginal, increasing long-term operational risk.

Here's the quick math on the projected land-use changes in the Cerrado by 2046, showing the scale of the climate-driven migration and conversion:

Land-Use Change Category	Projected Area Added by 2046	Climate Risk Factor
New Cropland	129 thousand $\text{km}^2$	Projected higher annual temperatures (26-30°C)
New Pasture	418 thousand $\text{km}^2$	Expansion into areas with less reliable precipitation

The company's land development model is directly exposed to increased scrutiny on land conversion versus yield optimization.

BrasilAgro's business model-acquiring underutilized land, transforming it for higher value crops, and selling it for a capital gain-is inherently exposed to the land conversion debate. Your strategy combines operational value with land sales, which generated a net revenue of R\$1.5 billion in the 2021/2022 harvest year.

The market is now demanding proof that value creation comes from yield optimization, not just land-use change. You must clearly demonstrate that your land development is a sustainable transformation of degraded pasture, not a conversion of native vegetation. The scrutiny is intense.

The company is making the right moves by investing R\$22.7 million in sustainable agricultural technologies. Plus, your carbon sequestration efforts, covering 37,500 hectares, are a tangible counter-narrative to the land conversion risk.

Actionable Insight: Quantify and publish the yield increase from your sustainable technology investment versus the capital gain from land sales in the 2025 fiscal year to re-anchor the narrative on optimization.

• Invest R\$22.7 million in ag-tech.
• Manage 37,500 hectares for carbon sequestration.
• Mitigate climate risk through technology.