Brazil exports a record 4.2m tons of sugar in October

Data released on November 3 by SECEX ( the Secretariat of Foreign Trade) point out that in October, Brazilian sugar exports totaled 4.2 million tons, a new monthly record that surpasses the 3.93 million tons registered in the same month of 2012. In comparison to October 2019, shipments of the sweetener in 2020 increased by 119%.

According to experts, sales of sugar from Brazil – the main global exporter of the commodity – have benefited from greater domestic production, lower supply in important competing countries, and a favorable exchange rate for shipments. By the fourth week of the month, the country had already shipped 3.2 million tons which signaled that it was on the way to setting a record.

SECEX also reports that Brazilian exports of green coffee reached 225,400 tons (3.75 million 60-kg bags) in October, an increase of 13% compared to the same period last year. The devaluation of the Brazilian real has favored coffee exports and has helped with sales of the country’s 2020 harvest. These sales had already surpassed 60% of the total by mid-October, a volume above the same period in 2019 and the historical average, according to a survey by Safras & Mercado.

On the other hand, corn exports fell to 5.15 million tons in October, compared to 6 million tons in the same month last year, although the second crop cereal harvest is over and prices are at a high level.

Among the commodities in the extractive industry, international exports of iron ore decreased to 31.2 million tons. A year earlier, Brazil shipped 34.1 million tons of the product.

In the meat market, Brazilian exporters saw a decline in both beef and poultry protein sales, in contrast to the optimistic scenario that occurred throughout the year. Beef shipments dropped to 162,700 tons in October versus 170,500 tons in the same month of 2019. Poultry protein exports dropped to 296,600 tons, down from 334,600 tons in October 2019.

Source: Reuters

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