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BIOLOGICAL ASSETS | 12 Months Ended
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Dec. 31, 2022
Biological Assets |
BIOLOGICAL ASSETS |
| 8. | BIOLOGICAL ASSETS
The live animals are represented by poultry and pork and segregated into consumables and animals for production. The rollforward of the biological assets are presented below:
The live animals are represented by poultry and pork and segregated into consumables and animals for production. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Current |  | Non-current
| Live animals |  | Live animals |  |  |  |  |  |  |
| Poultry |  | Pork |  | Total |  | Poultry |  | Pork |  | Forests |  | Total
| 12.31.22 |  | 12.31.21 |  | 12.31.22 |  | 12.31.21 |  | 12.31.22 |  | 12.31.21 |  | 12.31.22 |  | 12.31.21 |  | 12.31.22 |  | 12.31.21 |  | 12.31.22 |  | 12.31.21 |  | 12.31.22 |  | 12.31.21
Beginning balance | 1,153,433 |  | 868,428 |  | 1,746,488 |  | 1,260,582 |  | 2,899,921 |  | 2,129,010 |  | 553,247 |  | 472,053 |  | 540,298 |  | 425,252 |  | 320,937 |  | 324,444 |  | 1,414,482 |  | 1,221,749
Additions/Transfer | 17,742,074 |  | 14,078,311 |  | 10,711,501 |  | 9,480,273 |  | 28,453,575 |  | 23,558,584 |  | 169,192 |  | 97,765 |  | 508,042 |  | 455,831 |  | 60,489 |  | 41,825 |  | 737,723 |  | 595,421
Changes in fair value (1) | 3,618,570 |  | 2,628,793 |  | 302,255 |  | 511,574 |  | 3,920,825 |  | 3,140,367 |  | 65,364 |  | 105,385 |  | (287,069) |  | (217,418) |  | 33,840 |  | 16,443 |  | (187,865) |  | (95,590)
Harvest | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | (67,546) |  | (57,818) |  | (67,546) |  | (57,818)
Write-off | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | (558) |  | (3,957) |  | (558) |  | (3,957)
Transfer between current and non-current | 119,621 |  | 91,890 |  | 147,400 |  | 123,367 |  | 267,021 |  | 215,257 |  | (119,621) |  | (91,890) |  | (147,400) |  | (123,367) |  | - |  | - |  | (267,021) |  | (215,257)
Transfer to inventories | (21,313,444) |  | (16,469,201) |  | (11,031,043) |  | (9,629,308) |  | (32,344,487) |  | (26,098,509) |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | -
Exchange variation | (49,156) |  | (44,788) |  | - |  | - |  | (49,156) |  | (44,788) |  | (21,437) |  | (30,066) |  | - |  | - |  | - |  | - |  | (21,437) |  | (30,066)
Monetary correction by Hyperinflation | 3,852 |  | - |  | - |  | - |  | 3,852 |  | - |  | 41,355 |  | - |  | - |  | - |  | - |  | - |  | 41,355 |  | -
Ending balance | 1,274,950 |  | 1,153,433 |  | 1,876,601 |  | 1,746,488 |  | 3,151,551 |  | 2,899,921 |  | 688,100 |  | 553,247 |  | 613,871 |  | 540,298 |  | 347,162 |  | 320,937 |  | 1,649,133 |  | 1,414,482
| (1) | The change in the fair value of biological assets includes depreciation of breeders and depletion of forests in the amount of R$1,214,002 (R$1,030,491 on December 31, 2021).
The book value and estimated quantities of live animals are set forth below:
The book value and estimated quantities of live animals |  |  |  |  |  |  |
| 12.31.22 |  | 12.31.21
| Quantity (thousand of heads) |  | Book value |  | Quantity (thousand of heads) |  | Book value
Consumable biological assets |  |  |  |  |  |  |
Immature poultry | 195,139 |  | 1,274,950 |  | 197,859 |  | 1,153,433
Immature pork | 4,220 |  | 1,876,601 |  | 4,469 |  | 1,746,488
Total current | 199,359 |  | 3,151,551 |  | 202,328 |  | 2,899,921
Production biological assets |  |  |  |  |  |  |
Immature poultry | 6,958 |  | 235,582 |  | 6,170 |  | 192,017
Mature poultry | 11,394 |  | 452,518 |  | 11,621 |  | 361,230
Immature pork | 215 |  | 140,559 |  | 223 |  | 141,101
Mature pork | 450 |  | 473,312 |  | 452 |  | 399,197
Total non-current | 19,017 |  | 1,301,971 |  | 18,466 |  | 1,093,545
| 218,376 |  | 4,453,522 |  | 220,794 |  | 3,993,466
The Company has forests pledged as collateral for financing and tax and civil contingencies on December 31, 2022 in the amount of R$59,388 (R$69,308 on December 31, 2021). 8.1. Sensitivity analysis The fair value of animals and forests is determined using unobservable inputs, therefore it is classified in the Level 3 of the fair value hierarchy. The main assumptions used in the measurement of the fair value of forests and their impact on measurement are presented below.
|  |  |  |  |  | The estimated fair value can change if:
Asset |  | Valuation methodology |  | Non observable significant inputs |  | Increase |  | Decrease
Forests |  | Income approach |  | Estimated price of standing wood |  | Increase in the price of wood |  | Decrease in the price of wood
|  | Productivity per hectare estimated |  | Increase in yield per hectare |  | Decrease in yield per hectare
|  | Harvest and transport cost |  | Decrease of harvest cost |  | Increase of harvest cost
|  | Discount rate |  | Descrease in discount rate |  | Increase in discount rate
Live animals |  | Cost approach |  | Price of the feed inputs |  | Increase in feed cost |  | Decrease in feed cost
|  | Storage costs |  | Increase in storage cost |  | Decrease in storage cost
|  | Outgrowers cost |  | Increase in outgrowers cost |  | Decrease in outgrowers cost
The prices used in the valuation of forests are those practiced in the regions where the Company is located and were obtained through market research. The discount rate corresponds to the average cost of capital and other economic assumptions for a market participant. The weighted average price used in the valuation of biological assets (forests) on December 31, 2022 was equivalent to R$54.12 per stere (R$39.40 per stere on December 31, 2021). The real discount rate used in the valuation of the biological asset (forests) on December 31, 2022 was 7.89% p.a. (6.70% p.a. on December 31, 2021).

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