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Agribusiness breaks record for exports in May

Posted by Rafael Moro

Image: Pixabay

The Ministry of Agriculture's Secretariat of Commerce and International Relations released the performance of exports in May. A record was registered in the month with US$ 13.94 billion, an increase of 33.7% compared to May 2020. Sales were influenced by the increase in international commodity prices. The price index of agribusiness products exported by Brazil increased by 24.6%.

Analysts point out that the pandemic ushered in a new era of intensive commodity use, as governments emphasize job creation and environmental sustainability rather than the focus on financial stability triggered by the 2009 crisis. In addition, strong Chinese demand continues to put pressure on the prices of grains, such as corn and oilseeds, destined to rebuild and expand the swine and chicken herds in China.

Despite the strong increase in agribusiness exports, the sector's share decreased from 59.5% of total Brazilian exports (May/ 2020) to 51.7% (May/ 2021).

Agribusiness imports rose from US$ 837 million (May/2020) to US$ 1.22 billion (May/2021), an increase of 13.5%. The balance of the balance was US$ 12.71 billion.

The soy complex continues to be the main highlight, accounting for practically 60% of the value of agribusiness exports last month. According to the SCRI bulletin, the international soybean scenario reflects low US stocks and high Chinese purchases.

Total Chinese imports of soybeans grew 12.8% in 2021, from 33.9 million tons, between January and May 2020, to 38.2 million tons compared to the same period this year.

Brazilian exports registered a record volume of 16.4 million tons of soybeans in May (+16.3%). The amount and increase in the average export price (+34.5%; US$ 447.73 per ton) generated a record value of US$ 7.34 billion in exports of the product (+56.3%): +US$ 2.64 billion in absolute value.

In May, China was the country that most imported soybeans in grain (11.2 million tons), equivalent to 68% of the total exported by Brazil, or an absolute increase of 1.1 million tons compared to May 2020. European Union appears in second position with 1.552 million tons (-8.8%), followed by Turkey with 730 thousand tons (+74.5%).

By: Eliza Maliszewski | Agrolink

This text was automatically translated from Portuguese.