Agribusiness exports are record, with US$ 14,4 billion in July

Brazilian exports of agribusiness products reached, in July this year, a record value of US$ 14,43 billion, growth of 1,2% compared to the same month last year.

According to an analysis by the Secretariat of Commerce and International Relations of the Ministry of Agriculture and Livestock (SCRI/Mapa), the increase in exported volume was responsible for the increase in the performance of the trade balance, driven mainly by the soy complex, chicken and pork, cellulose and cotton. Overall, average export prices for products fell.

The share of agribusiness exports in the total trade balance in July was almost 50%.

China, Argentina, Algeria and Mexico are some of the countries in which agricultural exports saw an absolute increase in exports above US$ 100 million.

Soy beans

The soybean complex is the main export sector of Brazilian agribusiness, representing 42,2% of the total value exported by Brazil in agribusiness products (US$6,09 billion).

The value of soybeans shipped was a record for the months of July, at US$4,77 billion. The volume shipped expanded 29,2%, reaching close to 9,7 million tons.

The Brazilian soybean harvest is estimated, according to a Conab survey, at 154,6 million tons in the 2022/2023 season and explains the significant value shipped.

Foreign sales of soybean meal rose 12,4%, surpassing the figure of one billion dollars (US$1,08 billion), a record value for the months of July. The volume shipped was also a record in the period, reaching 2,2 million tons (+12,6%).

Estimates from the United States Department of Agriculture (USDA) indicate that Brazil should become the world's largest supplier of soybean meal in 2023, surpassing Argentina.

Three markets were responsible for the acquisition of 73,4% of soybean meal: European Union (US$458,83 million; +53,4%), Indonesia (US$178,88 million; +41,6%) and Thailand ($151,47 million; +3,6%).

Cellulose

Cellulose was the main product exported by the sector, with record exports of US$816,54 million for the month (+20,2%). The volume exported was also a record, with 1,79 million tons (+6,0%). Exports of forestry products were US$1,34 billion (-4,3%) in July this year.

China is the main importing country of Brazilian cellulose, with US$499,91 million (+82,8%). This figure represented 61,2% of the total value exported by Brazil of the product.

Other cellulose importing markets: European Union (US$ 98,40 million; -49,6% and share of 12,1%) and the United States (US$ 88,65 million; +22,2% and share of 10,9, XNUMX%).

Record in the year to date (January to July)

According to SCRI analysts, from January to July this year, agribusiness exports reached US$97,12 billion, an increase of 3,9%. The growth in sales of soybeans to the Chinese (+US$2,91 billion) and Argentine (+US$1,62 billion) markets was what most influenced the result.

Agribusiness represented half of Brazil's total exports in the first seven months of the year (50%).