Agribusiness exports reached a US$ 8.8 billion record in January

Brazilian agribusiness exports reached US$ 8.82 billion in January, a record value that indicates an increase of 57.5% compared to the US$ 5.60 billion exported in January last year.

According to data by the Ministry of Agriculture, Livestock, and Supply (Mapa in Portuguese), the strong appreciation seen in terms of export value derived from the expansion of average export prices, up 19% from January 2021, and from the increase in exported volume, which was 32.3%.

To sum up, the agribusiness share in Brazilian exports grew from 37.5% (January/2021) to 44.9% (January/2022).

Soy-complex products

The highlight in terms of shipments in January was the soy complex products, which generated US$ 2.12 billion in earnings, a figure 338.3% higher than compared to US$ 484.07 million exported in January 2021 (+US$ 1.64 billion).

Soybeans accounted for 2.45 million tons in exports (+4,853.6%), or US$ 1.24 billion (+5,223.9%); a record value for January.

According to Mapa analysts, global demand for oilseeds is increasing due to the renewed impetus of producing and consuming animal protein, which decreases the grain stock/consumption ratio. Under these conditions, China is expected to import around 100 million tons this year.

In January, the Asian country acquired 80.1% of the volume of soybeans exported by Brazil (1.97 million tons). Aside from China, the European Union and Vietnam also imported more than 100,000 tons from Brazil, acquiring 159.8 thousand and 136.7 thousand tons, respectively.

Exports of soybean meal increased 45.6 percent in volume, from 1.03 million to 1.49 million tons. Soybean oil exports increased significantly due to increased domestic availability and strong Indian demand. Soy oil exports reached US$ 232.54 million in January 2022 (+1,974%) or 170,26 thousand tons (+1,907.6%). India acquired 82% of the total volume exported (139.76 thousand tons).

See below the track record of Brazilian soybean exports (HS 1201) for the last three years. The data is from the DataLiner.

Brazilian Soybean Exports (HS 1201) | Jan 2019 to Dec 2021 | WTMT

Fonte: DataLiner (click here to request a demo)

Animal protein

Animal protein was the second-largest exporting sector in terms of Brazilian agribusiness. With earnings of US$ 1.61 billion in January 2022 (+39,8%), the industry landed a new record value in the history of the month. Both exported volumes (+21.1%) and average export prices (+15.5%) increased.

Brazil’s main meat export was beef, registering US$ 801.06 million in foreign sales (+46.2%), a record for January. Exports volume and the average export price increased by +25.7% and +16.3%, respectively.

Poultry meat exports also set new highs, with a total value of $604.89 million (+42.8%). The exported volume, which was also a record (+20.2%), was accompanied by high average export prices (+18.8%).

Unlike beef and chicken, foreign pork sales increased solely due to an increase in export volume, which increased 18.5%, from 62 thousand tons in January 2021 to 73 thousand tons in January 2021. On the other hand, the average export price fell by 7.4 percent.

The reduction in Chinese demand for imported pork has affected international prices since the second half of 2021 due to the recovery of the Chinese pig herd. Even so, China continued to be the leading importing country of Brazilian fresh pork, with a 44% share of exported volumes, which represented US$ 62.85 million (-20.4%).

Wheat

In the case of wheat, foreign sales were at an all-time high in terms of value (US$ 190.93 million; +121.0 %) and quantity (648.06 thousand tons; +61.6 %), owing to lower demand in the domestic market and a record Brazilian wheat crop in 2021. (7.68 million tons, according to Conab)

The three countries that imported the most  Brazilian wheat were: Saudi Arabia (218.92 thousand tons); Morocco (180.6 thousand tons), and Indonesia (141.1 thousand tons).

Green and soluble coffee

Foreign sales in the coffee industry totaled US$ 719.21 million (+41.1%). The volume exported fell (-18.5%) in January, but the average export prices (+73.0%) increased more than compensated. Brazil is the world’s largest coffee producer, and green coffee is the main product exported (with an export record of US$ 659.01 million; +41.3%).

Average export prices reached US$3,700 per ton in January 2022 (+76.1%). Foreign sales of soluble coffee reached US$ 54.15 million (+37.1%).

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