Agribusiness exports grow 2.8% YoY in February

Brazilian agribusiness exports in February this year were valued at US$ 6.47 billion, an increase of 2.8% in relation to the same month last year (US$ 6.29 billion). Imports of agribusiness products totaled US$ 1.22 billion (+ 14.9%). The trade balance for agribusiness products was US$ 5.22 billion.  External sales of the other products that Brazil exports increased by 4.5%. With this greater increase in other products, the share of agribusiness in Brazilian exports fell from 40.3% (February / 2020) to 39.9%.

According to the analysis of the Secretariat for Trade and International Relations (SCRI) of the Ministry of Agriculture, Livestock and Food Supply (MAPA), agribusiness exports were negatively affected by the drop in soybean grain exports (-US$ 560.64 million in absolute values).

The decline in foreign sales of soybeans was offset by the increase in four products, which totaled US$ 585.26 million in absolute values: soybean pulp (+ US$ 211.62 million in absolute values); raw cane sugar (+ US$ 158.56 million in absolute values); cotton, neither carded nor combed (+ US $ 109.68 million in absolute values); and corn (+ US$ 105.39 million in absolute values).

According to SCRI, the drop in soybean shipments occurred due to two factors: the dry climate at the beginning of the planting period between October and December last year and, more recently, the excessive rainfall that delayed the harvesting process of the oilseed that occurs between January and mid-April in most producing states. For these reasons, soybean shipments decreased by almost two million tons”.

Source: Agrostat

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