EN 
PT_BR 
The rise in corn prices once again put pressure on the terms of trade for pig farming in São Paulo in March. Data from Cepea shows that, in the period up to the 17th, the purchasing power of producers fell for the sixth consecutive month, reflecting the increased cost of the input compared to the stable price of the animal.
Photo: Ari Dias
During this period, live pigs delivered to the industry were traded at an average of R$ 6.94 per kilogram in the state of São Paulo (SP-5), a slight increase of 0.5% compared to February. Corn, the main component of feed, registered a more significant increase: in the Campinas (SP) market, a 60-kilogram bag was quoted at R$ 70.96, an increase of 4.6% in the same comparison and the largest monthly variation since March 2025.
As a result, the terms of trade have deteriorated. This month, the sale of one kilogram of live pig allows the purchase of 5.87 kilograms of corn, a decrease of 3.9% compared to the previous month.
Despite the short-term downturn, the indicator still shows a slight recovery compared to the previous year, with a gain of 2%. According to Cepea, the increase in corn prices is associated with restricted supply in the spot market and strong demand for stockpiling, in an environment of uncertainty in the international market.
