Brazil Opens 72 New Markets for Farming Products in Early 2024
Brazil, the largest economy in Latin America, accomplished a noteworthy achievement in the early months of 2024.
By opening 72 new markets across 30 countries for its agricultural products, the country surpassed its previous records.
This development was facilitated by the Ministry of Agriculture and Livestock, which shared the details in a press release.
Consequently, this figure exceeds the totals from 2019 and 2022, which saw 35 and 53 new markets opened, respectively.
Since January 1, 2023, Brazil has opened 150 new markets in 52 countries under President Lula.
Many products, including aquaculture fish, seeds, pork, poultry proteins, meat, eggs, and non-GMO corn, now meet international standards.
This expansion has significantly bolstered Brazilian exports. Agribusiness made up nearly half of export revenues, $67.17 billion, in early 2024.
Brazil remains the top exporter of beef, chicken, soybeans, coffee, orange juice, and sugar, and the second in corn.
Background
In Brazil, agriculture intricately intertwines with the cultural fabric and economic backbone of the diverse nation.
Minister Carlos Fávaro recently unveiled the new budget for Brazil’s agricultural sector: a robust R$475.5 billion ($86.45 billion) for the 2024/2025 period.
Set against a backdrop of lush landscapes and bustling farm markets, this announcement holds promise for the vast rural expanses and the millions relying on farming for their livelihood.
The allocation earmarks R$400.6 billion ($72.84 billion) for commercial agriculture.
Of this sum, R$293.9 billion ($53.44 billion) will cover operational expenses and marketing initiatives.
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Brazil — Live Market Board
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| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 192,114.55 | +2.63% | +21.85% | 187,197.46 | 168,310 | 167,142 | — |
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| SELIC | 14.00% | — | — | — | — | — | |
| PETR4 | 41.64 | -0.05% | +35.19% | 41.66 | 41.97 | 41.15 | 41,499,400 |
| VALE3 | 72.97 | +0.83% | +30.75% | 72.37 | 73.54 | 72.66 | 17,658,000 |
| ITUB4 | 38.60 | -1.03% | +4.57% | 39.00 | 39.34 | 38.39 | 29,487,800 |
| BBDC4 | 16.85 | +0.36% | +3.50% | 16.79 | 16.90 | 16.67 | 19,416,900 |
| BBAS3 | 19.37 | +0.47% | +0.73% | 19.28 | 19.44 | 19.16 | 11,069,200 |
| B3SA3 | 14.26 | -0.21% | +12.73% | 14.29 | 14.47 | 14.11 | 33,037,800 |
| ABEV3 | 14.89 | -0.80% | +21.91% | 15.01 | 15.07 | 14.81 | 16,453,100 |
| WEGE3 | 47.59 | +0.49% | +29.99% | 47.36 | 48.08 | 47.36 | 3,364,600 |
| PRIO3 | 59.14 | -0.19% | +50.67% | 59.25 | 59.81 | 58.74 | 3,325,600 |
| SUZB3 | 41.33 | +2.35% | -23.55% | 40.38 | 41.48 | 40.35 | 3,914,900 |
| RENT3 | 34.68 | -0.09% | +0.84% | 34.71 | 34.96 | 34.35 | 7,979,100 |
| AZZA3 | 15.89 | -2.63% | -53.76% | 16.32 | 16.42 | 15.82 | 1,330,300 |
| CSNA3 | 4.30 | +0.47% | -42.65% | 4.28 | 4.41 | 4.26 | 10,076,100 |
| GGBR4 | 24.69 | +2.19% | +51.38% | 24.16 | 24.85 | 24.18 | 7,047,600 |
| ENEV3 | 24.21 | -1.38% | +70.49% | 24.55 | 24.64 | 23.99 | 9,297,000 |
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