Commodity appreciation pushes agribusiness exports to a record US$ 11 billion in July

Agribusiness exports in July this year reached a record value of US$ 11.29 billion, 15.8% higher than those exported in the same month last year (US$ 9.75 billion).

According to an analysis by SCRI (the secretariat of commerce and international relations) of MAPA (the ministry of agriculture, livestock and food supply), the growth in exports is linked to the increase in the price index of agribusiness products exported by Brazil, which was 28.5% in the comparison between July 2020 and July 2021.

On the other hand, the export quantum index dropped by 9.9%. Even with a drop in the volume exported, the strong increase in international prices for exported products caused the value to reach a historic level, according to SCRI analysts.

Soybeans presented a drop in the quantity exported, from approximately 10 million tons (July/2020) to 8.7 million tons (July/2021). However, the 32.5% increase in the average export price of the Brazilian oilseed caused the exported value to reach approximately US$ 4 billion.

Meat (beef, pork, and chicken) also reached record exports, with US$ 2.03 billion in foreign sales last July (+34.9%). In no month since January 1997 have sector exports surpassed US$ 2 billion in a single month. The figure was obtained as a result of increased average export prices (+24%) and increased volumes exported (+8.8%).

Agribusiness imports increased by 25.8%, reaching US$ 1.2 billion. The balance of trade in agribusiness reached US$ 10 billion. Agribusiness held a 44.2% share of total Brazilian exports.

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