Arquivos Record - Murray Advogados

Rise was driven by increased production and global demand, with significant growth in sales to the USA and China

07/15/2024

Revenue from shipments in the crop year ending in June also set a record, reaching $9.8 billion, an increase of 20.7% — Foto: Divulgação

Brazil’s coffee exports for the 2023/24 crop year (July 2023 to June 2024) reached a record 47.3 million 60-kilogram bags, according to the Brazilian Coffee Exporters Council (Cecafé). This volume is 32.7% higher than the 2022/23 cycle. The previous record was set in the 2020/21 crop year, with 45.6 million bags exported.

Revenue from shipments in the crop year ending in June also set a record, reaching $9.8 billion, an increase of 20.7%.

Cecafé president Márcio Ferreira stated in a note that the larger crop in Brazil allowed the country to expand its share in global trade, “occupying spaces left by reduced supply from other producers, such as Indonesia and Vietnam, mainly with national conilon and robusta.”

According to the organization, the United States was the main destination for Brazilian coffee, purchasing 7.1 million bags, or 2.8% more than in the 2022/23 crop year. Germany and Belgium followed. Brazil also increased coffee sales to China by 186.1%, reaching 1.64 million bags.

Produced in larger volumes in Brazil, arabica coffee remains the most exported type. In the crop year, 35.4 million bags of this variety were shipped, an increase of 16.7%. Meanwhile, exports of canéforas (conilon and robusta) surged to 8.238 million bags. This increase of 461.1% reflected the lower availability of the product in Vietnam and Indonesia, which faced climatic problems.

Mr. Ferreira also noted that investments in research and technology “that improved the quality and productivity” of Brazilian canéforas also enabled the country to expand its share in the global market.

In June alone, the last month of the 2023/24 crop year, Brazil exported 3.5 million bags of coffee, the highest amount recorded for the month in history. Revenue of $851.4 million was also unprecedented for the period, according to Cecafé.

*Por Paulo Santos — São Paulo

Source: Valor International

https://valorinternational.globo.com/

Soy export in Paranaguá — Foto: Fabio Scremin/APPA

With upward revisions, especially regarding prices, the Brazilian Association of Vegetable Oil Industries (Abiove) started to project the revenue of soy exports (beans, meal and oil) at $57.953 billion in 2022. The record amount is $6.51 billion higher than what was forecast by the association in March and, if materialized, will represent an increase of 20.7% year over year.

For soybeans, Abiove now estimates revenues of $46.32 billion, resulting from shipments of 77.2 million tonnes at an average price of $600 per tonne. The previous calculations indicated $41.181 billion (77.7 million tonnes at $530 per tonne). In 2021, revenues totaled $38.636 billion (86.108 million tonnes at $449 per tonne).

As for soy meal, the current scenario for 2022 indicates $8.51 billion in revenues, with sales of 18.3 million tonnes and an average price of $465 per tonne. In March, Abiove estimated revenues of $8.052 billion (18.3 million tonnes at $440 per tonne). Last year, the amount reached $7.37 billion (17.21 million tonnes at $428 per tonne).

For oil, Abiove revised its projection for export revenues to $3.123 billion, the result of 1.8 million tonnes shipped at $1,735 per tonne. In March, the projections indicated $2.21 billion (1.7 million tonnes at $1,300 per tonne). Last year, import revenues totaled $2.017 billion (1.651 million tonnes at $1,222 per tonne).

The price adjustments are in line with the curves seen in the international market since the beginning of the year and confirm analysts’ assessments that there should be no significant drops in the coming months, in view of the lower grain supply in Brazil, Argentina, and Paraguay due to weather problems, the effects of the war in Ukraine on the wheat and corn markets, and heated demand in India.

The trend of increasing the planted area in the United States in the 2022/23 season has not been enough to bring prices down. Brazil is the global leader in production and exports of soybeans, followed by the U.S.

Also in the new report it released on Tuesday, Abiove adjusted its estimate for the 2021/22 soybean harvest in Brazil to 125.4 million tonnes, 9.7% less than in 2020/21. Processing this year was maintained at 48 million tonnes, just above 2021, with production of 36.685 million tonnes of meal and 9.7 million tonnes of oil.

Source: Valor International

https://valorinternational.globo.com

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Brazilian coffee exports hit record

Rise was driven by increased production and global demand, with significant growth in sales to the USA and China

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