Agribusiness in Brazil posted a surplus of US$10.1 billion in July

The trade balance of Brazilian agribusiness ended July with a positive balance of US$ 10.1 billion, registering exports of US$ 11.29 billion and imports of US$ 1.23 billion, according to data released by the Institute for Applied Economic Research (IPEA).

In comparison with July 2020, there was an increase of 38.6% in the average prices of exports and an increase of 20.8% in the accumulated result for the year. According to the IPEA Conjuncture Group, the average price of products shipped in Brazil continues to rise.

Last month, despite the adaptation in exports, some Brazilian agribusiness products reached record export volumes throughout the first half of 2021: coffee, sugar, cotton, and pork.

In the accumulated result for the year, from January to July 2021, the products with the greatest positive change in average prices were soy (28.6%), beef (12.2%), sugar (14.7%), wood (15%), and corn (22.2%).

Source: Money Times

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