Brazil agribusiness brake USD 15.2 billion record in exports

Brazil’s agribusiness exports reached an unprecedented $15.2 billion in April 2024, marking a 3.9% increase from $14.6 billion in April 2023. These exports represented 49.3% of the country’s total foreign sales, according to the Ministry of Agriculture.

Year-to-Date Performance

From January to April, agribusiness exports totaled $52.3 billion, a 3.7% rise from $50.52 billion during the same period last year. This growth was driven by a 17.1% increase in export volume, though an 11.3% drop in product prices tempered the overall revenue gains.

Grains

In April 2024, Brazilian grain exports surged to nearly 18.5 million tons, a 6.7% increase from 17.3 million tons in April 2023. Soybeans led the charge with 14.7 million tons shipped, the third-largest monthly volume on record. China remained the top importer, purchasing nearly 10 million tons of soybeans for almost $4.3 billion.

Meat

Brazil’s meat exports soared to $2.2 billion in April 2024, a 27.5% increase compared to the same month in 2023. Beef exports alone accounted for $1.04 billion, nearly 70% higher than last year, with volume rising from 133.4 thousand tons to 236.77 thousand tons—a 77.5% increase and a record for April. “One of the biggest reasons for the expansion in the quantity exported is the increase in Chinese demand for Brazilian fresh beef,” noted the Ministry of Agriculture.

Sugar and Ethanol

The sugar and ethanol sector achieved a historic milestone, surpassing $1 billion in exports for the first time. Revenue from foreign sales hit $1.07 billion, a 77.6% increase from $600.07 million in April 2023. This growth was primarily due to a 94.7% increase in sugar export volume compared to the previous year.

Brazilian agribusiness continues to demonstrate robust growth, significantly contributing to the nation’s economy and solidifying its position in global markets.

Source: Globo Rural

Click here to read the original report: https://globorural.globo.com/economia/noticia/2024/05/exportacoes-do-agronegocio-bateram-recorde-em-abril-com-us-152-bilhoes.ghtml

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