Agriculture and livestock were the most impacted sectors both directly and indirectly. Floods damaged crop fields and storage facilities, as well as hampered supply logistics.

Brazil’s National Confederation of Municipalities (CNM) preliminarily estimates losses above R$ 1.264 billion (US$ 245 million) in these two sectors. Nonetheless, the actual economic impact could be considerably higher as improved weather should soon allow a more accurate estimate of crop and animal losses.

Link: http://chilealimentos.com/wp-content/uploads/2024/05/Unprecedented-floods-in-Rio-Grande-do-Sul-threaten-Brazils-agricultural-output_Brasilia_Brazil_BR2024-0009.pdf

Source: USDA