Agribusiness Exports Surpass US$ 153 Billion in 2024

From January to November 2024, Brazilian agribusiness exports totaled US$ 152.63 billion, accounting for 48.9% of Brazil’s total exports. This marks the second-best performance ever recorded in the historical series. A 5.2% reduction in international price indices was partially offset by a 5.2% increase in export volume.

The key sectors driving this performance were the soy complex (US$52.19 billion), meats (US$23.93 billion), and the sugar-energy complex (US$18.27 billion), which together accounted for more than 60% of total exports. Despite an 18.7% decline, the soy complex maintained its prominent position, while the meat and sugar sectors registered significant growth, driven by record shipments and market diversification.

Among exported products, soluble coffee stood out, accumulating US$792 million during the period. Another highlight was orange essential oil, with exports exceeding US$365 million by November 2024. These results illustrate how Brazilian agribusiness has expanded its horizons, bringing various high-value-added products to global markets and reaffirming its strength in increasingly diversified destinations.

November Results

In November 2024, agribusiness exports totaled US$ 12.66 billion, representing 45.2% of Brazil’s monthly exports. Despite a 5.8% decline compared to November 2023, sectors such as meats, coffee, and forestry produced significant results, partially offsetting grain sales.

The meat sector was the main highlight of the month, achieving a historic export record for November, reaching US$2.45 billion (+30.2%). Beef led the category with US$1.23 billion (+29.9%), followed by chicken meat (US$876.92 million, +31.8%) and pork (US$289.40 million, +30.8%). This growth was driven by higher export volumes and increased average prices.

Below is a historical overview of Brazilian containerized beef exports between January 2021 and 2024. The data comes from DataLiner, a product of Datamar’s market intelligence.

Beef Exports | Jan 2021 – Oct 2024 | TEUs

Source: DataLiner (click here to request a demo)

Coffee exports also set a historic record for November, reaching US$1.47 billion (+84.4%), driven by a 21.8% increase in export volume and a 51.4% rise in international prices. The European Union, the United States, and Mexico were the main destinations for Brazilian green coffee. Meanwhile, forestry products grew 29.1%, totaling US$1.51 billion, led by cellulose, which generated US$877.34 million in revenue.

On the other hand, the soy complex experienced a 50.3% decline, with exports totaling US$1.86 billion, due to crop failure and reduced inventories. Corn also saw a drop, totaling US$967.89 million (-41.7%), driven by a 36.2% reduction in shipped volumes.

Imports on the Rise

Agricultural imports totaled US$1.54 billion in November 2024, an increase of 14.4% compared to the same period the previous year. Wheat (US$102.16 million; +21.2%) and salmon (US$76.05 million; +14.1 %) were among the main imported items.

Future Expectations

According to Luís Rua, Secretary of Trade and International Relations, the results of market and product diversification are now showing concrete impacts on the trade balance. “Less traditional products in the export portfolio grew by 7.2% compared to last year. With promising crop forecasts for 2025, continued market openings, the maturing of previously achieved agreements, and intensified commercial promotion efforts supported by new tools, we expect even more qualitative and quantitative advances in Brazilian agribusiness exports,” he emphasized.

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