Agribusiness exports yield more than US$ 10 billion in a record-breaking February

In February this year, agribusiness exports exhibited a record-breaking performance, reaching a never-seen value of US$ 10.51 billion (+65.8%). The highest value exported in a single February had been US$ 6.84 billion in 2019. This year’s result was $4.17 billion higher than the $6.34 billion registered in February 2021.

The growth in exports was driven by the increase in the average prices of exported products (+24%) and by the rise in the quantity shipped (+33.7%).

Agribusiness imports reached US$ 1.25 billion in February 2022 (-2.1%). Thus, the agribusiness trade balance reached US$ 9.2 billion.

The February 2022 export record increased agribusiness’s share of overall international sales to 45.9%. The proportion was 387 % in February 2021.

According to data released by the Secretariat of Commerce and International Relations (SCRI) of the Ministry of Agriculture, Livestock, and Supply (Mapa), exports had a good performance, especially soybeans, fresh beef, green coffee, soybean meal, chicken in natura and wheat.

Soybeans and bran

According to SCRI, the record volume of soybeans available for export in February partially explains the increase in the quantum index of agriculture exports (+3.63 million tonnes, resulting in exports of 6.27 million tonnes).

Check below the track record of Brazilian soybean exports from January 2019 to January 2022. The data are from DataLiner.

Brazilian Soybean Export (HS 1201) | Jan 2019 – Jan 2022 | WTMT

Source: (click here to request a demo)

China has historically been Brazil’s major importer of soybeans. The Asian country purchased US$ 2.17 billion (+186.6 %) or 4.3 million tonnes (+129.6 %) in February. This volume accounted for 69.1 % of Brazil’s total exports to the rest of the world.

Foreign sales of soybean bran also reached record levels with exports of US$ 699.62 million (+50.2%) due to the 52.8% increase in volume. The European Union was the biggest buyer, with US$ 285.33 million (+10.7%), followed by: Indonesia (US% 118.63 million; +5.3%); Thailand (US$99.62 million; +327.3%); and Vietnam (US$77.62 million; +5,144.5%).

Beef and chicken

Beef also showed a positive performance with a growth of 75.1% in foreign sales, reaching US$ 965.02 million. The volume exported increased by 42%, and the average export price by 23.3%.

Check below the track record of Brazilian beef exports from January 2020 to January 2022. The data are from DataLiner.

Brazilian Beef Exports (HS 0202) | Jan 2020 – Jan 2022 | TEU

Source: (click here to request a demo)

China was responsible for the strong performance of fresh beef exports. Sales records to the Asian country rose from US$ 261.79 million (February/2021), or 56.41 thousand tonnes, to US$ 546.49 million (February/ 2022) (+108.7%) or 87,1 thousand tonnes (+54.4%).

Foreign sales of chicken meat rose from US$ 510.58 million (February/2021) to US$ 643.11 million (February/2022), an increase of 26%. The increase in the average export price was 18.8%, and the volume exported increased by 6.0%.

The product was mostly shipped to China, with exports of US$ 85.58 million (-0.9%). Other markets that purchased the product were: United Arab Emirates (US$ 80.71 million; +132.9%); Japan (US$ 48.13 million; -16%); Mexico (US$45.41 million; +832.1%); Saudi Arabia (US$ 43.6 million; -42.3%); and the European Union (US$ 32.67 million; +117.6%).

Wheat

Wheat ranked high on the list of the most exported items. Cereal exports outpaced imports in February 2022, with US$ 246.3 million exported (836.6 thousand tonnes) compared to US$ 141.58 million imported (498.8 thousand tonnes).

In the 2021/2022 harvest, Brazilian wheat output was predicted to be 7.9 million tonnes, 2.6% more than the 7.7 million tonnes produced in the 2020/2021 season. According to a Cepea/USP research, the observed rise in Brazilian exports was possible by favorable international market circumstances and higher external acceptance of grain with lower pH, distinctive of national wheat.

Check below the track record of Brazilian wheat exports from January 2019 to December 2021. The data are from DataLiner.

Brazilian Wheat Exports (HS 1001) | Jan to Dec 2019-2021 | WTMT

Source: (click here to request a demo)

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