Agribusiness exports set a new record in June, surpassing US$ 12 billion

Agribusiness exports in June this year generated a record-breaking US$ 12.11 billion, an increase of 25% compared to the US$ 9.69 billion shipped in June 2020. The rise in prices of agricultural products exported by Brazil (30.4%) was the main variable responsible for this record value.

According to the department of commerce and international relations of MAPA (the ministry of agriculture, livestock, and food supply), this increase in prices caused by the global economic recovery was the key driving force behind the new record, as there was a 4.1% drop in the quantum index of Brazilian exports.

Agribusiness imports increased by 54.2%, reaching US$ 1.28 billion. As a result, the balance of trade in agribusiness reached US$ 10.8 billion.

Due to the 105.3% increase in exports of non-agricultural products, driven by exports of iron ore and oil, the share of agribusiness products in total Brazilian exports fell to 43.1%, even considering the record observed for the months of June. In June 2020, the participation was higher, at 55.5%.

Soy and meat

The main export sector of Brazilian agribusiness was the soy complex. A little more than half of the value exported by Brazil in agribusiness products was due to foreign sales in this sector, which had soybeans as the main exported product. Foreign sales of soybeans reached a record value of US$ 5.30 billion, even with a 12.9% reduction in the volume exported, of 11.1 million tons.

Meat exports were US$ 1.78 billion (+26.6%) in June. The increase in value was due to the increase in the quantity exported (+9.4%) as well as the average increase in the export price (+15.7%).

The main meat exported was beef, at record sales levels of US$ 834.24 million (+12.7%). In relation to chicken, exports rose 45.8% to reach US$ 636.26 million in June 2021. Pork exports set a new sales record, with foreign sales of US$ 268.31 million (+36 .4%). The quantity exported also hit a record level, with 107,200 tons (+12.9%) shipped.

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