Brazil’s agribusiness exports hit record and total US$120.6 billion in 2021

RIO DE JANEIRO, BRAZIL – December was also a record month, when total exports from the sector reached US$9.88 billion, a figure 36.5% higher than the US$7.24 billion in the same month of 2020.

The increase in total exports last year occurred due to the growth in the price index of products and the reduction in the volume shipped, the Ministry said.

The highlight was the volume of soybeans exported in the period, with the exception of January and February, which experienced low stocks due to delays in the harvest.

The soybean complex composed of grain, oil and meal posted US$48.01 billion in foreign sales (+36.3%) and 104.96 million tons sold (+3.9%) in 2021, with a 31.2% increase in prices.

Soybeans totaled a record US$38.63 billion (+35.2%) in the year-to-date. In volume, there was an increase of 3.8%, reaching a new historical high of 86.10 million tons shipped, the data showed.

The meat, forest products and sugar sectors were also key highlights for the annual performance of agribusiness.

In relation to December, growth is due not only to high prices, but also to the volume exported by Brazil, with a higher amount of shipments also of soybeans.

However, despite the records, there was a decline in the sector’s share, since agribusiness foreign sales represented 43% of total exports in 2021, a 5.1% drop compared to 2020.