Agribusiness Exports from Minas Gerais Reach a Historic Record of US$ 17.1 Billion in 2024

Agribusiness exports from Minas Gerais reached a historic milestone in 2024, recording US$ 17.1 billion in revenue, according to data from the State Secretariat of Agriculture, Livestock, and Supply of Minas Gerais (Seapa). This performance represents the best result since the beginning of the historical series 1997, surpassing mining revenues, which traditionally lead the state’s exports, by 2.5%. Mining closed the year with US$ 15.7 billion. From January to December, agribusiness in Minas Gerais recorded a 19.2% growth in revenue and an 8% increase in shipped volume, totaling 17 million tons exported. The sector accounted for 42% of the state’s export portfolio, reinforcing its economic importance for Minas Gerais.

Minas Gerais rose to fourth place in the national ranking of agribusiness exporters, surpassing Rio Grande do Sul, and established itself as Brazil’s leading supplier of agricultural products to the European Union. The state exported US$ 4.4 billion to the bloc, outperforming São Paulo. Products from Minas Gerais reached 175 countries, with the top destinations being China (US$ 4.1 billion), the United States (US$ 1.9 billion), Germany (US$ 1.4 billion), Belgium (US$ 788 million), and Italy (US$ 726 million).

Coffee was the main export product from Minas Gerais in 2024, generating US$ 7.9 billion in revenue and shipping 31 million bags, accounting for 46.1% of the state’s total exports. The appreciation of the dollar and the reduction in global stockpiles drove price and volume increases. Despite a 10.2% drop in revenue in the soybean complex, the exported volume grew 7.1%, reaching 7.2 million tons and generating US$ 3.2 billion in revenue. The sugar-energy complex maintained its third position among the most exported products, totaling US$ 2.5 billion and 5.2 million tons. Meanwhile, meat exports, including beef, poultry, and pork, grew in volume and revenue, totaling US$ 1.7 billion and 502,000 tons shipped. Forest products also reached a record, with US$ 1.1 billion in revenue and 1.7 million tons exported. Segments such as horticulture, leather, fibers, and beekeeping products also showed significant advancements.

With this performance, agribusiness in Minas Gerais solidified its position as a cornerstone of the state’s economy and one of the main drivers of Brazil’s foreign trade, strengthening its competitiveness in the international market.

Source: Agro Link

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