Industry shipped more than $10bn in November for the first time
12/16/2022
Brazil’s agricultural exports reached $12.6 billion in November, a record for the month, which had not yet surpassed $10 billion since records began. The amount represents a 51.2% increase over the same period last year, when sales stood at $8.6 billion.
The result was due to the increase in export volume, which grew 29.3% last month, and the rise in the prices of exported products, by almost 17%, informed the Ministry of Agriculture.
One highlight was the growth in corn shipments, which reached 6 million tonnes, or $1.7 billion. The volume was 154% higher than the 2.8 million tonnes exported in November 2021 and the revenue increased 255% in the same comparison – in November last year, sales totaled $486 million.
With this, the grain exports exceeded the quantity sold of the soybean complex (grain, meal, and oil), which was 4.4 million tonnes in November. The complex also led in revenue, with $2.7 billion in the period.
Sugar sales also grew in November and surpassed 4 million tonnes. Exports of the sugar-and-ethanol segment reached $1.83 billion, up 83.5% year-over-year.
Meat exports also reached a record high in November, of $1.92 billion, an increase of 47.2% year-over-year. Beef exports brought in $870 million, poultry meat earned $762.13 million, and pork totaled $228.12 million, also a record high.
Imports of agricultural products totaled $1.48 billion in November, an increase of 2.2% YoY. Thus, the trade balance stood at $11.6 billion. The share of agriculture in the country’s total exports reached 44.9%.
In the year to date, Brazilian agribusiness exports have reached 145.3 million tonnes, with a revenue of $148.26 billion, a record value for the period since official records began, in 1997.
China led the purchases of Brazilian agribusiness products in November ($2.9 billion) and the year ($48.1 billion). The United States, Netherlands, Japan, and Vietnam completed the list of the top five last month.
In 2022, the soybean complex leads in volume exported (98.6 million tonnes) and sales ($58.7 billion). Cereals come next (41.8 million tonnes), with a great performance of corn (37.1 million tonnes). The revenue of this segment reached $12.3 billion.
In 11 months, Brazil exported 7.6 million tonnes of meat, mainly poultry (4.2 million tonnes). The revenue surpassed $23.7 billion in the period. Forest products ($15.3 billion), sugar and alcohol ($11.9 billion), and coffee ($8.4 billion) complete the list of the main items this year.
*By Rafael Walendorff — Brasília
Source: Valor International