Brazil’s agribusiness export revenues reach US$10.9 billion in August

RIO DE JANEIRO, BRAZIL – The exported revenue reached US$10.90 billion, 26.7% more than the US$8.60 billion exported in the same month last year. In 2013 Brazil’s agribusiness exports reached the same level of US$10 billion for the months of August.

Despite the record, the share of agribusiness in the country’s total exports fell from 49.4% (August/2020) to 40.1% (August/2021).

Imports of agribusiness products rose from US$912.47 million in August 2020 to US$1.25 billion in August 2021 (+37.2%). The values were influenced by the rise in international prices, such as wheat and palm oil, with an increase in the average imported price of 23.1% and 67.6%, respectively. Thus, the agribusiness trade balance reached US$9.64 billion.

SOYBEANS

Soybean complex (in beans, meal and oil), the main export sector of Brazilian agribusiness, reached US$4.02 billion, which represented an increase of 53.6% in relation to the US$2.62 billion exported in August 2020.

The increase in the volume of soybeans exported and the sharp rise in international prices resulted in US$3.14 billion in exports in August 2021 (+52.5%).

The supply of the oilseed was a record in the 2020/2021 Brazilian harvest, at 136 million tons, an increase of 8.9%, favoring export capacity, according to the Ministry of Agriculture, Livestock and Supply’s (MAPA) Secretariat of Trade and International Relations (SCRI) analysis.

FOREST PRODUCTS

Forest products was among the sectors exceeding the US$1 billion mark in export revenues in the month of August. The exported value reached US$1.25 billion (+40.5%), due to the strong increase in average export prices (+31.2%).

Within the sector, pulp exports were the most significant, with US$610.67 million (+47.2%). There was a record pulp export volume for August, with 1.35 million tons (6.9%).

MEAT

Foreign meat sales generated US$2.09 billion (+40.5%), a record for the month of August since the start of the historical series in 1997. Average meat export prices rose (+34.8%), as did the volume of foreign sales (+4.2%). The result is related to supply, demand and global production costs, the SCRI study points out.

World beef production is expected to decrease to 60.8 million tons (-1.1%), with reduced slaughter output in Argentina, Australia and Brazil, which strongly pressures international prices.

The main animal protein exported by Brazil, beef generated US$1.17 billion in revenue in August 2021 (+55.6%), with an increase in the average export price of 41.3%. Volumes increased by 10.1%, according to the Secretariat’s analysts.

China raised its purchases of fresh product from US$325.18 million in August 2020 to US$633.15 million in August 2021 (+94.7%). In terms of volume, it was 105,860 tons (+35.3%).

Chicken meat exports reached US$663.55 million (+35.2%). There was a 3.8% increase in the quantity exported and a 30.3% increase in the average export price.