BRICS nations boost Brazilian agribusiness with US$56 billion in purchases; China leads

The coalition formed by Brazil, India, China, Russia, and South Africa, established in 2009, promotes mutual assistance and economic collaboration.

In 2022, other BRICS nations purchased Brazilian agribusiness goods worth US$56 billion. This amount equates to 35% of the sector’s total export revenue for that year.

Of this, China alone accounted for US$50 billion, marking it the leading market for Brazil’s agricultural products.

The majority of this figure stemmed from soy products (US$32 billion), followed by meat exports (US$11 billion) – notably, beef (US$8 billion) and chicken (US$1.6 billion).

Regarding the recently added BRICS nations, they purchased US$13.4 billion worth of goods in 2022, representing 8.5% of Brazil’s total US$156 billion agribusiness sales for that timeframe.

Corn exports took the lead in this category at US$3.4 billion, with meats, especially chicken, coming next at US$2 billion.

Of the six newest BRICS members, four are predominantly Muslim-majority countries.

Notably, Brazil is the world’s top exporter of food items compliant with Islamic dietary laws.

It’s no surprise then that chicken meat, a cost-effective protein option for many Muslims, featured prominently in these trade exchanges.

Brazilian meat processors lead global exports of this particular protein. Further emphasizing its global relevance, Brazil is home to BRF, a pivotal player in the industry.

Highlighting the strategic significance of Brazilian agribusiness, Saudi Arabia’s government invested hundreds of millions of dollars to partner in a joint venture led by BRF.

This venture is aimed at chicken production in Saudi Arabia.

In Brazil, BRF plays a pivotal role, connecting local breeders of varying scales to its processing facilities.