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Agribusiness exports from Brazil reach record for the month of March

Posted by Rafael Moro

Image: Pixabay

Brazilian agribusiness exports reached US $ 11.6 billion in March, a record amount for the month and representing a 28.6% increase compared to the same period in 2020, according to an analysis by the Confederation of Agriculture and Livestock of Brazil (CNA ) based on data from the Ministry of Economy. Accumulated from January to March, foreign sales totaled US $ 23.5 billion.

The monthly trade balance (exports - imports) registered a surplus of US $ 10.2 billion, the best result in 12 months. The main product on the export basket was soybeans, which reached revenues of US $ 5.4 billion, an expansion of 43.1% in comparison with March last year.

"The advance of harvests that were delayed in the first two months of the year and affected shipments in the period was the main factor behind the expressive increase compared to the same month of 2020", explains the CNA in a Technical Communication. Shipment of soybeans accounted for 46.3% of total agribusiness exports.

Beef was the second most exported item in March this year, with growth of 11.6% compared to March / 2020 and revenues of US $ 617.2 million. The result was driven by international demand, mainly from China, which helped to leverage global protein prices and stimulated exports.

According to the CNA, in March 2021, some items showed a significant increase in exports in comparison with March 2020. The main increases were for ethyl alcohol (134.8%), neither carded nor combed cotton (66.8% ) and fresh pork (56.7%).

Regarding the export destinations of the sector, China was the main market, with a 43.3% share in the import of Brazilian products. Exports to the Asian country totaled US $ 5 billion, with four products accounting for more than 90% of the tariff: soybeans (77.3%), fresh beef (6.5%), cellulose (4, 2%) and fresh pork (3.0%).

The European Union ranked second among the main destinations on the Brazilian agro export basket, with a share of 14% of products shipped, followed by the United States (5.2%), Thailand (2.6%), Vietnam (2 , 2%), Saudi Arabia (1.8%), South Korea (1.7%), Turkey (1.7%), Japan (1.5%) and Hong Kong (1.5%).

The information is from the CNA's press office.

By: Gabriel Nascimento | Safras & Mercado

This text was automatically translated from Portuguese.