October agribusiness exports hit record US$ 8.84 bi

Agribusiness exports registered a record value of US$ 8.84 billion for October, driven by the rise in international prices for commodities. The value is 10% higher than the US$ 8.036 billion exported in the same month of 2020.

According to the Secretariat of Commerce and International Relations (SCRI) of the Ministry of Agriculture, Livestock, and Food Supply (MAPA), the increase in average export prices was key for the increase in foreign sales, as sales grew 25.8% compared to October 2020. But in terms of volume, the quantity sold abroad decreased by 12.5% in the period under analysis (October 2020 to October 2021).

Imports of agribusiness products rose from US$ 1.2 billion in October/2020 to US$ 1.4 billion in October/2021 (+16.8%). Several imported products had significant increases in their average prices, such as wheat (+15.5%), palm oil (+68.7%), and olive oil (+26.3%).

According to SCRI analysts, the main highlights of the month were soybeans, pork, chicken meat, and coffee.

Soybeans accounted for US$ 1.72 billion (+94.3%), corresponding to 3.3 million tons (+35.9%). The average export price reached US$ 522 per ton, an increase of 42.9% compared to October 2020.

There was also a record in the quantity and value of pork exported. External sales reached US$ 215.98 million (+ 8.9%), with an increase in the quantity exported (+ 11.5%), but a drop in the average export price (-2.3%).

Foreign sales of chicken meat reached US$ 700.08 million (+ 60%), a result of both the increase in the quantity exported (+ 23.4%) and the average export price (+ 29.6%).

The coffee sector registered sales of US$ 606.71 million (+ 18.9%) despite the 15.9% drop in exported volume, which was offset by the increase in average export prices (+ 41.5%).

China remains the main buyer of Brazilian agribusiness products. Of every US$ 4 exported, US$ 1 went to the Asian country, which means exports valued at US$ 2.25 billion went to the Chinese market in October/2021 (+ 6.2%). China was the destination of 80.8% of the volume of Brazilian soybean grain exports (2.7 million tons; +35%).

China remains the main importer of Brazilian pork meat, although sales of the in natura product have decreased to US$ 78.18 million.

The Chinese market was also an important importer of Brazilian raw chicken meat, valued at US$ 110.88 million (+22.4%).

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