Brazilian agribusiness celebrates 38.4% hike in exports to USD 13.9bn

Brazilian agribusiness exports reached US$ 13.97 billion in September 2022. The amount is a record for the month of September, with an increase of 38.4% compared to the corresponding period of 2021.

In addition to the increase in prices, which rose 17.2% between September 2022 and September 2021, the volume exported rose 18.1%.

Between January to September 2022, year-to-date, Brazilian agribusiness exports totaled US$ 122.07 billion, representing an increase of 30.5% compared to the same period in 2021.

Brazilian imports of agricultural products rose from US$ 1.25 billion in September 2021 to US$ 1.60 in September 2022 (+27.8%). Also in imports, there was an increase in price and quantum index, 14.3% and 11.8%, respectively.

Sectors

Soy complex, the market sector responsible for most exports in Brazil, sold US$ 3.95 billion in September 2022 (+24.2%). The high prices of the sector’s products were the main factor responsible for the increased export value.

Foreign meat sales saw yet another record in September, US$ 2.43 billion, with an increase of 11.2% in average export prices and a drop of 1.3% in the exported volume.

The cereals, flours, and preparations sector saw an increase to US$ 2.04 billion in foreign sales. The grain responsible for this gain was corn, which obtained a record volume of 6.8 million tonnes for September, almost 5 million tonnes higher than the volume exported in September 2021.

Foreign sales of forest products totaled US$ 1.50 billion (+30.2%). Pulp is the leading export product of the sector, with a record export value for the month: US$ 861.52 million (+68.9%).

The sugar and ethanol complex ranked fifth among the main exporting sectors of Brazilian agribusiness, with shipments worth US$ 1.48 billion (+52.4%). Sugar was responsible for most of the value exported by the industry, reaching US$ 1.24 billion in exports (+44.9%).

In addition to imported agricultural products, there was an increase in the import of various inputs used in agricultural production. For example, Brazil purchased US$ 2.05 billion in fertilizers in September 2022. The value was 14.1% higher when compared to the same month in 2021. The volume, however, suffered a reduction of 22.6%.

Countries

Asia continues to be the leading economy for Brazilian agricultural products, with imports of US$6.39 billion in September 2022. China, the largest consumer of Brazilian agribusiness products, increased imports to US$ 3.69 billion in September 2022, representing a 13.1% increase in purchases compared to what was imported in the same month of 2021.

Two countries registered growth in the share of imports of agribusiness products above one percentage point: Iran (+2.8 points) and Indonesia (+1.03%).

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