Brazil agribusiness exports break record in November

Agribusiness exports reached US$ 12.65 billion, outperforming for the first time the figure of US$ 10 billion for the month.

This value was 51.2% higher than the US$ 8.36 billion exported in November 2021.

The export record resulted from the increase in export volume (+29.3%) but was also influenced by high average export prices (+16.9%).

Agribusiness, exports

The increase in the export volume of corn export (+3.7 million tonnes) and sugar (+1.3 million tonnes) largely explains the positive performance in Brazilian agribusiness export volume.

Imports of agricultural products stood at US$ 1.48 billion in November 2022, an increase of 2.2% compared to the amount acquired in November last year.

Consequently, the sector’s balance stood at US$ 11.6 billion.

This calculation does not include the costs of inputs used in agricultural production, such as fertilizers, pesticides, parts, and equipment. The share of agribusiness in Brazil’s total export portfolio was 44.9%.

With this increase in volume, Brazil sold 145.3 million tonnes abroad this year.

Brazilian agribusiness exports totaled US$ 148.26 billion in foreign currency during the first 11 months of the year, a record high for the 11-month period since 1997.

In November, the sub-sectors responsible for most exports were soy (21.7%), meat (15.2%), cereals, flours, and preparations (14.7%), sugar and alcohol (14.5%), and forest products (10.6%).

These sectors accounted for 76.7% of the total value exported by Brazil in agribusiness products in November.

Agribusiness sectors

The soy complex exported US$ 2.74 billion, which meant a growth of 31.9% compared to November last year.

Foreign sales of soybeans reached US$ 1.62 billion.

The export value of soybean meal was US$ 817.44 million (+56.9%), while soybean oil reached US$ 310 million (+30.7%).

Meat exports set a record for November, reaching US$ 1.92 billion (+47.2%).

Beef was the meat product with the highest export value, US$ 870 million (+76%). On the other hand, external chicken meat sales reached US$ 762.13 million (+29%).

There were also record exports of pork, with US$ 228.12 million.

Cereals, flours, and preparations recorded foreign sales of US$ 1.86 billion (+243.8%).

Corn exports accounted for nearly all of the value exported by the sector, surpassing the figure of US$ 1 billion for the first time in November 2022, with records of US$ 1.73 billion (+255, 8%).

The volume exported was also a record for the month of November, reaching 6.06 million tonnes (+154%).

The sugar and alcohol complex exported US$ 1.83 billion, an increase of 83.5% compared to the US$ 999.29 million exported in November 2021.

Sugar was the main product exported by this sector, with US$ 1.66 billion (+78.7%), with volume expansion of 53.1% and 16.8% in the average export price.

That is, the increase in sugar exports is explained, for the most part, by the rise in export volume.

Source: Canal Rural

To read the full original article, please access: https://www.canalrural.com.br/agronegocio/exportacoes-do-agronegocio-batem-recorde-em-novembro/

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