Brazil’s Agribusiness Exports Set October Record at US$ 14.27 Billion, Driven by Meats, Coffee, and Sugar

Brazilian agribusiness exports set a new record for the month of October, reaching US$14.27 billion. This amount represents a 6.2% growth compared to US$13.43 billion in October 2023. The result was accompanied by an increase in the quantum index of exports (+3.7%) and the price index (+2.5%).

“If we look at the quantity of products exported, Brazil has been consistently increasing. If we observe the data from January to September 2024, our exports decreased by 0.2%, but we have already reversed the trend with the October data and the 6.2% growth we had. The agro sector has grown by 0.3% from January to October compared to the same period last year. Our agribusiness represents half of everything Brazil exports,” emphasized Luis Rua, Secretary of the Secretariat of Commerce and International Relations.

According to SCRI/Mapa, the main export sectors were the soybean complex, meats, the sugar-alcohol complex, forest products, coffee, cereals, flours, and preparations. These six sectors accounted for 82.7% of Brazilian agribusiness exports in October, totaling US$ 11.80 billion.

Regarding shipment increases, the volume of numerous products, such as raw cane sugar (+1.00 million tons), soybean meal (+452.56 thousand tons), pulp (+423.43 thousand tons), and meats (+190.67 thousand tons), boosted.

Key Products

Meat exports reached US$ 2.62 billion in October 2024 (+38.6%). The growth in meat exports amounted to an additional US$ 729.75 million, making it one of the sectors that compensated for the decline in grain exports (mainly soybeans and corn). A highlight within this sector was beef, which recorded US$ 1.36 billion, of which US$ 1.26 billion was for fresh beef. This export value is a historical record, with the equivalent volume of 270.33 thousand tons of fresh meat also a record.

Brazilian sugar exports continued to rise in 2024. In October, 3.73 million tons of sugar were shipped (+29.8%), generating revenues of US$1.76 billion for the country, although the price decreased to US$473 per ton (-11.8%).

The graph below shows the progress of Brazil’s sugar container exports between January 2021 and September 2024. Data source: DataLiner.

Containerized Sugar Exports | Jan 2021 – Sep 2024 | TEUs

Source: DataLiner (click here to request a demo)

Another sector with record exports was the coffee sector, which shipped US$ 1.40 billion abroad in October 2024 (+61.1%). This was US$ 529.84 million higher compared to the same month last year. Green coffee exports reached a record in value and quantity: US$ 1.31 billion (+62.7%) and 279.26 thousand tons (+12.0%), respectively.

The graph below provides an overview of Brazil’s container coffee bean exports. The information comes from DataLiner data by Datamar.

Brazilian Coffee Exports | Jan 2021 – Sep 2024 | TEUs

Source: DataLiner (click here to request a demo)

In addition to these, it’s worth highlighting the absolute value export growth of some other products: orange juice, unguarded and uncombed cotton, live cattle, dry beans, and orange essential oil. These products accounted for a US$362.01 million expansion in exports in October 2024 compared to October 2023.

Year-to-Date (January-October 2024 vs. January-October 2023)

From January to October 2024, agribusiness exports totaled US$ 140.02 billion, a 0.7% increase compared to US$ 139.62 billion in the same period in 2023. This marked a record high for exports during the months leading up to October.

This record was significantly influenced by an increase in the volume shipped (quantum index), which rose by 6.6%. However, the price index fell by 5.9%, which limited the potential for an even higher export value.

Agribusiness, with a 49.2% share, represented nearly half of Brazil’s total export agenda during this period.

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