{
  "id": 2930609,
  "title": "O preço da terra está barato demais pra ignorar, dizem estes gestores",
  "url": "https://urgent.news/2026/08/24/o-preco-da-terra-esta-barato-demais-pra-ignorar-dizem-estes-gestores",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-24T03:20:06.000Z",
  "source": {
    "name": "Brazil Journal",
    "slug": "brazil-journal",
    "url": "https://braziljournal.com/o-preco-da-terra-esta-barato-demais-pra-ignorar-dizem-estes-gestores/"
  },
  "original_language": "pt",
  "account": "Who owns land never goes wrong, according to the old adage from Brazil's interior. During the worst period of agriculture in recent years, indebted rural producers have surrendered their properties to creditors, causing agricultural properties to reach the market with discounts of up to 40%. The agricultural business crisis, which has been squeezing margins and increasing financial pressure on producers, is creating opportunities for those who view land as an investment. This is the view of Olivier Colas, a former Kepler Weber vice-president, and Eça Correia, a former KPMG employee. Together, they founded the Buri management company with a single goal: to buy agricultural properties during periods of low liquidity and resell them when the agro cycle turns. With high interest rates, elevated production costs, and commodities prices pressured, the gross margin of soybeans on own land fell 48% in this harvest to R$ 1,219 per hectare, according to Olivier. In grain-producing areas, the value of land is strongly influenced by the price of a soybean sack. Brazilian agriculture recorded nearly 2,000 lawsuits for recovery in the previous year, a 56% increase compared to the previous year. In the first quarter of this year, the 474 lawsuits in the agro already grew 22% compared to the same period in 2025. For the managers, however, this is a cyclical crisis, not structural. While indebted producers need to sell assets, there are few buyers willing to enter the market today. Olivier told Brazil Journal that their view is to buy land at a significant discount and wait for the return of normal market normalization. They find properties with discounts of 30% to 40% on 2022 values, mainly productive lands that have reached the market through guarantee executions. Another front is degraded areas that can be recovered and transformed into crops. In this case, the investment takes three to five years but tends to generate a higher return. The fund, which is being collected, intends to combine both strategies: buying ready-to-use lands in opportunistic situations and acquiring areas that could have their value unlocked with investments. Over 80 farms have been offered to Buri's managers, with around 95,000 hectares under analysis or in negotiation. The selection of properties is made by NMPO, a consultancy specializing in the evaluation of agricultural lands created by two former Macquarie executives, Stephen Pout and Juliano Vorraber. The contracyclical thesis depends, however, on a long-term premise: demand for land will continue to grow. According to projections from the American Department of Agriculture, global demand for soy is expected to increase by 75 million tons in the next ten years. (For comparison, Argentina will produce 50 million tons this year.) Considering expected productivity gains, this would represent a need for approximately 20 million additional hectares. \"We will need to convert areas that today are not soy into the cultivation of the grain. And Brazil could easily contribute 12 million hectares to this expansion of cultivation,\" Olivier said. In other words, while global demand for food grows, land remains a scarce and strategic asset. The history also supports the bet. The average price of land in Brazil rose 308% between 2002 and 2013, reaching 444% in the Central-West. More recently, between 2019 and 2024, agricultural land increased by 113%. The fund starts with the entry of Agrícola São Luiz (ASL), a traditional grain producer from Mato Grosso and a partner of Buri in the project. The company will be a tenant of the acquired lands and will operate them while the sale window remains closed. ASL's property, currently undergoing a conversion from livestock to agriculture, was contributed to the fund in exchange for shares. Two other farms are in advanced negotiation stages. Altogether, the fund already has R$ 180 million in land contributions and investor resources (mostly professionals and institutions). The authorized capital is R$ 5 billion, but with a five-year investment period, they will be sparing with it, depending on the opportunities that arise. The initial focus is on Mato Grosso, where rain patterns, the possibility of two harvests, and liquidity make properties more attractive. Preference is given to areas of 1,000 to 3,000 hectares, considered easier to resell. The strategy does not depend only on the recovery of agricultural prices. The assessment of each property considers productivity, climate, soil quality, logistics, and the profile of surrounding producers, as well as specific circumstances of the sale, such as indebtedness or succession disputes. For Olivier, the time to buy is precisely before the market starts to see the opportunity again. \"The moment is bad, but it won't stay bad forever.\"",
  "summary": "“Quem tem terra não erra,” diz um velho ditado do interior do Brasil. Mas na pior fase do agro em anos, produtores rurais endividados estão entregando as suas aos credores, fazendo com que propriedades agrícolas cheguem ao mercado com descontos de até 40%. A crise do agronegócio, que vem comprimindo as margens e aumentando a […] The post O preço da terra está barato demais pra ignorar, dizem…",
  "key_points": [
    "Land prices are so low that managers see investment opportunities",
    "Buri management company buys agricultural properties during low liquidity periods",
    "Fund aims to capitalize on expected global demand for soy increasing by 75 million tons"
  ],
  "editors_take": "Investors see depressed land prices as an opportunity, driven by a cyclical crisis in agriculture that has indebted producers to sell assets, creating a buyer s market for strategic land.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}