Brazil’s panettone exports generate over BRL 120 million in 2024

Brazil exported 5,200 tonnes of panettone in 2024, generating USD 21.2 million (around BRL 121.9 million), according to the Brazilian Association of Biscuit, Pasta, Industrialized Bread and Cake Industries (Abimapi). Rodrigo Iglesias, International Director, explained that panettone is the fourth most important export item in Abimapi’s product basket, just behind biscuits. “The importance of panettone becomes even clearer when you consider that exports from our member companies represent 95% of all Brazilian panettone shipped worldwide,” he said.

Panettone also stands out for its market value, not only because of the product’s ingredients but also its gift-oriented packaging. “In 2024, the average FOB price of exported panettone was USD 4 per kg (around BRL 21.70 per kg) — the highest value-added product in the sector when considering shipment prices per kilo,” Iglesias noted. A key driver of exports is seasonality: shipments begin in July, peak in August and September, and continue until January, coinciding with the end of retail campaigns worldwide.

Main buyer and expansion into new markets

Diversification of export destinations is a relatively recent development, achieved following the pandemic through targeted campaigns, trade marketing strategies, and participation in international fairs, supported by the sectoral project Amazing Foods Brazil, a partnership between Abimapi and ApexBrasil. “Through the export promotion program, sector companies joined more than ten international fairs in Brazil and abroad just in 2025, seeking to expand exports and diversify destinations. From January to August 2025, we more than doubled our panettone exports compared to the same period in 2024 — a 146% increase in value and 140% in volume. Brazilian panettone reached USD 11.2 million and 2,900 tonnes so far this year,” Iglesias said.

With 3,200 tonnes exported in 2024, the United States is the largest buyer of Brazilian panettone. “In 2025, even with the 50% tariff on Brazilian products, our exporters maintained structured projects for panettone distribution. Shipments were anticipated and many negotiations carried out to ensure continuity of campaigns,” he noted. “By August this year, panettone exports to the United States had grown 130% — we shipped 1,800 tonnes worth USD 6.7 million. We expect to close 2025 maintaining our shipment volume to the country,” Iglesias added.

This year, companies also began negotiations to expand to new markets. Japan, Mexico, Venezuela, Peru, Canada, the Dominican Republic, and Chile have all seen growth of more than fivefold.

Source: Giro News

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