Biological assets (Tables)

6 Months Ended

Jun. 30, 2026

Disclosure of detailed information about biological assets [abstract]

Disclosure of reconciliation of changes in biological assets [text block]


						06/30/2026						12/31/2025
Opening balance						26,097,164						22,283,001
Additions						3,617,275						7,913,483

Depletions						(3,174,187)						(5,352,271)
Transfers												15,233
Gain on fair value adjustments (Note 7)						1,157,728						1,516,458
Disposals						(21,674)						(107,815)
Write-offs						(44,611)						(170,925)
Closing balance						27,631,695						26,097,164

Schedule of Assumptions Used for Calculation of Fair Value of Biological Assets


						06/30/2026						12/31/2025
Useful productive planted area (hectare) eligible for fair value calculation						1,298,200						1,228,834
Mature assets (6 to 7 years)						181,175						173,476
Immature assets (1 to 5 years)						1,117,025						1,055,358
Average annual growth (IMA) – m3/hectare/year						38.13						37.46
Average gross sale price of eucalyptus – R$/m3						116.77						111.9
Discount rate (post-tax)						8.10		%				8.10		%

Disclosure of Gains Losses On Fair Value Adjustment Biological Assets


						06/30/2026						12/31/2025
Physical changes and discount rate (1)						452,463						325,445
Price of wood						705,265						1,191,013
						1,157,728						1,516,458