Brazilian agribusiness exports reach record highs in first four months of 2023

Brazilian agribusiness exports have soared to a new record of US$ 50.6 billion in the first four months of 2023, marking a 4.3% growth compared to the same period last year when sales were US$ 48.53 billion.

The Secretariat of Trade and International Relations of the Ministry of Agriculture and Livestock (SCRI/Mapa) has analyzed that the expansion is primarily due to the surge in both the quantity exported (+2.3%) and the price index of the products (+1.9%).

Notably, the exported quantity of corn (+6.05 million tonnes) and soybeans (+1.05 million tonnes) contributed most to the expansion in the quantum index.

See below the volume of corn (1005) exported from Brazilian ports between Jan 2020 and Mar 2023, according to the DataLiner data service.

Corn exports from Brazil | Jan 2020 – Mar 2023 | WTMT

Source: DataLiner (click here to request a demo)

Agribusiness has dominated Brazil’s foreign sales agenda, accounting for 49% of the total export share in 2023, up from 47.7% in the previous year. The other sectors witnessed a 0.8% decline, resulting in a 1.6% growth in total exports.

The soybean complex (grain, meal, and oil), chicken and pork meat, corn, cellulose pulp, and ethanol have all recorded record highs in exports in the four-month period. In April alone, Brazilian agribusiness exports touched US$ 14.7 billion. Soybeans, chicken meat, and pork meat remained the key highlights of the month.

Check Brazil’s soybean oil (hs 1507) exports between Jan 2020 and Mar 2023, according to the DataLiner data service.

Soybean oil exports | Jan 2020 – Mar 2023 | WTMT

Source: DataLiner (click here to request a demo)

Soybean exports totaled 14.34 million tonnes in April, a staggering 25.0% increase from the previous year. According to SCRI, this is one of the most significant volumes ever exported by Brazil, surpassed only thrice in the entire historical series. The soybean value rose to US$ 7.75 billion (+14.6%), marking a new monthly record for soybean exports. China remains the largest importer of Brazilian soybeans, accounting for 70% of the exported volume.

Animal protein

Despite the monthly reduction in beef exports in April, Brazilian exports of beef, pork, and chicken should see substantial gains throughout 2023.

See below Brazil’s exports of beef month by month from January 2019 to March 2023. The data used to draft the chart below was gathered through Datamar’s business intelligence service DataLiner.

Brazilian beef exports | Jan 2019 – Mar 2023 | WTMT

Source: DataLiner (click here to request a demo)

Chicken exports rose to US$ 826.63 million (+3.2%), with a 4.7% increase in exported volume and a 1.5% drop in the average export price, primarily due to China’s increased import volume of chicken meat from Brazil.

Pork sales also rose, with shipments of US$ 249.40 million (+30.5%), driven by an increase in the quantity exported (+16.4%) and the average export price (+12.1%). China remains the largest importer of Brazilian pork, purchasing US$ 86.15 million.

Notably, the chicken and pork produced in Brazil have benefited from supply limitations in Asia due to local sanitary problems, mainly African Swine Fever and Avian Flu.

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