Agribusiness exports fall 1.5% in November

Agribusiness exports fell 1.5% year-on-year in November according to Brazilian trade balance data compiled by the Ministry of Agriculture. The exported value was impacted by the 2.3% drop in the price index of export products. On the other hand, there was an increase of 0.9% in the quantum index of exports, mitigating the decrease in average export prices.

Agribusiness had a 45.3% share of total Brazilian exports (US$ 17.53 billion). Imports of agribusiness products, on the other hand, rose 22.1% in the comparison between November 2019 and November 2020, from US$ 1.08 billion to US$ 1.31 billion.

Sugar alcohol

External sales of sugar alcohol (sugar and alcohol), corn, green coffee, and forest products (pulp and wood) grew sharply in November.

The top ten Brazilian agribusiness export products in the month were: corn (US$ 878.36 million; + 27.6% and 4,900 tons); raw cane sugar (US$ 765.39 million; + 62.9% and 3,000 tons); fresh beef (US $ 738.52 million; -1.9% and 168 thousand tons); green coffee (US $ 577.68 million; + 41.9% and 276 thousand tons); soybean meal (US$ 553.13 million; + 32% and 1.4 million tons); pulp (US$ 551.11 million; + 19% and 1.5 million tons); soybeans (US $ 541.80 million; -70% and 1.5 million tons); cotton, neither carded nor combed (US$ 500.10 million; + 21.3% and 333,000 tons); fresh chicken meat (US $ 448.59 million; -12.1% and 334,000 tons); fresh pork (US $ 188.54 million; + 36.2% and 76,000 tons).

External corn sales grew 19.1% in November, reaching a record 4.9 million tons for the months of November. The record volume added to the 7.1% increase in the average grain export price generated revenues of US $ 878.36 million from exports.

There was also an intense increase in the exported volume of sugar in comparison with the same month of 2019, with the expansion of 60.7%, reaching 3.09 million tons exported in November 2020 at an average price of US $ 291 per ton (similar to 2019). Thus, the exported value of sugar rose to US$ 900.93 million. The country that most the imported sugar was China, with the purchase of US$ 131.45 million of Brazilian sugar (+ 721.6%).

Coffee grew 37.7% in foreign sales, equivalent to an increase of US$ 170.61 million in absolute values.

The main export product in November was pulp, from the forestry complex, with a record volume of 1.48 million tons (+ 21.6%). Although the volume was significant, the fall in international prices prevented a greater increase in the exported value, reaching US$ 551.11 million (+ 19%). Still in the sector, exports of wood and its works totaled US$ 356.96 million (+ 22.1%) and paper exports totaled US$ 143.49 million (-2%).

Soy Complex

External sales of the soy complex (grain, bran, and oil) decreased 50.6%, from US$ 2.24 billion in November 2019 to US$ 1.11 billion in November 2020. The main factor of the fall is related to anticipated exports in the first months of the year.

The volume exported from January to November and the low stocks of soybeans in Brazil made the quantity go from almost 5 million tons, in November 2019, to 1.47 million tons in November 2020, down 70,3%. The exported value of soybeans fell from $ 1.81 billion in November 2019 to $ 541.80 million in November 2020 (-70%).

Soybean meal exports rose from $ 418.93 million in November 2019 to $ 553.13 million in November 2020 (32%). 1.41 million tons of the product were exported, setting a record. External sales of soybean oil decreased by 23.3%, reaching US$ 13.57 million.

In the accumulated result from January to November, shipments of soybeans represented US$ 28.48 billion (14.5%), reaching a record of 82.75 million tons (16.9%). China was the destination of 73.4% of Brazilian soybean grain exports in 2020, with US$ 20.90 billion.

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