Brazilian agribusiness has record revenues from soybean exports

By Artur Piva

Brazil’s agribusiness made US$8 billion from soybean exports in May 2023.

It is a monthly record for the sector.

The result is part of a survey by Revista Oeste with official data.

The revenue of US$9 billion appears in the preliminary data of the country’s trade balance.

According to the federal government’s record, the second and third-highest monthly sales of agribusiness in Brazil with soybean exports also occurred in 2023.

They were registered in April and March: US$7.7 billion and US$7.3 billion, respectively.

The country is the world’s largest producer of soybean, which is widely used by the industry.

Its industrial application ranges from the production of bran and oil to its use as an input in manufacturing more complex components.

Among them are toothpaste and car tires.

In livestock, it is used for animal nutrition for poultry and pigs.

For example, the strength of Brazilian soybean production is one of the major reasons the country leads the global chicken meat market.

Besides, this grain is the flagship of Brazil’s agribusiness.

In May, for example, the revenue from soybean exports corresponded to almost 90% of all Brazilian sales revenues from national agriculture and cattle-raising to the foreign market.

With information from Revista Oeste

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