Brazilian agribusiness exports reach a record for November: US$ 8.36 billion

Brazilian agribusiness exports totaled 8.36 billion dollars in November, up 6.8% year-on-year and a record for the period, informed the Ministry of Agriculture on Friday, noting that the result was driven by high product prices.

The previous record for the months of November was registered in 2011, when foreign sales were 8.31 billion dollars.

Agribusiness represented 41.2% of total Brazilian exports last month.

“The positive result in November was due to the high average prices of agribusiness products exported by Brazil. The price index of these products was 22.3% higher than that observed in November 2020”, said the Ministry in a note.

The main highlight was the advance of soy and grain, with a volume increase of 80.2% higher year on year, reaching 2.6 million tons, according to analysts at the Ministry’s Secretariat of Commerce and International Relations (SCRI).

China remained as the main importing country of the oilseed, with 2.2 million tons purchased in the month, totaling 86.2% of all the volume exported by Brazil.

According to the ministry’s analysts, two factors are essential to explain the favorable result: delay in soy planting and harvesting due to adverse weather conditions, and a record oilseed crop (137.3 million tons in 2020/2021).

Another factor is the increase in the average export price of the oilseed grain, which reached US$ 511 per ton (+38.7%).

Source: Money Times

To read the complete original article, access the link: https://www.moneytimes.com.br/exportacoes-do-agronegocio-do-brasil-atingem-us-836-bi-em-novembro-recorde-para-o-mes/

Sharing is caring!