Agriculture exports generate 1.7% less in May YoY

According to a report released last Thursday (13/06) by the Ministry of Agriculture, agricultural exports generated US$9.8bn in May 2019 – a 1.7% dip in relation to the US$9.97bn exported in May 2018.  The reduction in export revenues was mainly due to the decrease in the price index of Brazil’s agribusiness exports, which declined 9.1%. On the other hand, an increase in volume helped avoid a larger drop in the value exported, which actually increased 8.1% over the same period comparison.

There was a 22.5% increase in exports by other sectors, causing agribusiness’ share of exports to from 51.6% of the total value exported in May 2018, to 46.1% in May 2019.  Imports of agribusiness products rose from US$1.08bn in May 2018 to US$1.18bn in May 2019.

Participation by the five main sectors for Brazilian agribusiness exports was down from 90% in May last year, to 85.3% in May 2019.

Soy

The top agribusiness export is soybean complex, responsible for 46.1% of the total value exported in May 2019. This was a 22.2% decrease from US$5.81bn in May 2018 to US$4.52bn in May 2019.

Meat

Foreign sales of meat increased 27.5% in May 2019, from US$1.11bn in May 2018 to US$1.41bn in May 2019. Chicken was the main meat exported, generating  US$650.42m in exports (+ 27.1%). Other signifciant meats exported were beef (US $ 573.32 million, + 24.0%); pork (US $ 142.64 million + 56.5%); and turkey meat (US $ 4.71 million, -40.8%).

Cellulose

Exports of forest products hit a record for May 2019, with US$1.37bn in exports. This is a 23.6% increase on the US$1.11bn exported in May 2018. The main product exported by the sector was pulp, generating US$859.18m – an 18.0% year-on-year increase.

Sugar and alcohol

Sugar and alcohol was ranked fourth among the main agribusiness exporting sectors. Exports totaled US$618.63m (-10.3%), with sugar accounting for US$540m (-14.9%) and alcohol for US$77.6m (+ 51.2%).

Coffee

In fifth place was coffee. The sector hit record exports of green coffee (195,900 tons) and soluble coffee (7,600 tons) for the months of May. Brazil had a record coffee production in 2018, with 61.7m 60kg bags.

Imports

Agribusiness imports increased from US$1.08bn in May 2018 to US$1.18bn in May 2019 (+ 9.0%). The main agricultural products imported by Brazil were wheat (US$95.65m, + 14.5%), paper (US$75.73m, + 7.4%), ethyl alcohol (US$74.28m), salmon (US$46.24m, + 10.4%), clothing and other cotton textile products (US$ 44.54m, + 3.2%), malt 36.77m, + 32.0%), potatoes prepared or preserved (US$34.62m, + 33.6%), wine (US$34.12m, + 14.2%), palm oil (US$30.5m, -37.3%), natural rubber (US$30.41m, + 0.5%), and olive oil (US$30.11m, -13.8%).

Source: Ministry of Agriculture

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