Brazilian agribusiness exports down 6.2% in October

Agribusiness exports in October totaled US$ 8.18 billion, signifying a 6.2% decrease compared to the same month last year (US$ 8.72 billion). According to the Trade and International Relations Secretariat (SCRI), of the Agriculture and Food Supplies Ministry (MAPA), exports fell due to a 3.6% reduction in the quantum index of exports and 2.8% in price.

Agribusiness product imports totaled US$ 1.2 billion in October. The trade balance accounted for US$ 6.9 billion. The share of agribusiness in Brazil’s total exports represented 45.8% of the total value exported last month, an increase of 9.7% in relation to the same month of 2019.

According to SCRI’s technical analysis, the drop in soybean grain exports (- US$ 913 million) was partially offset by the record sugar exports (US$ 658 million), which increased 121%, from US$ 543.96 million in October last year to US$ 1.20 billion in the same month this year. The amount of sugar exported – 4.2 million tons – was the highest on record.  Another sector that performed well, was forest products. Foreign sales in the sector reached US$ 1.03 billion (8%). Pulp exports rose 6.3%, reaching US  550.13 million. The amount of pulp exported rose 9.9% in the comparison between October 2019 and 2020, reaching a record of 1.45 million tons. However, the 3.4% drop in the average export price prevented a greater increase in the value exported.

The product that had the best performance in the forest products sector was wood and woodwork. There was a record of US$ 351 million in foreign sales, with an increase of 61.7% in the quantity exported, and the average export price of the product fell (-20.6%).

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