Agribusiness exports break record in August, with US$ 15,63 billion

Brazilian exports of agribusiness products rose 6,6% in August this year, reaching US$15,63 billion. The value corresponded to 50,4% of the total exported by Brazil.

According to an analysis by the Secretariat of Commerce and International Relations of the Ministry of Agriculture and Livestock (SCRI/Mapa), two factors explain the August result: an increase in the quantity exported and a reduction in prices.

The first factor is related to the record grain harvest harvested in 2022/2023, which expanded the exportable surplus capacity. The other factor deals with the decline in international food prices.

For SCRI analysts, the products that deserve to be highlighted this month are corn, soybeans, soybean meal, sugar and fresh chicken meat.

Corn broke a monthly record in the historical series in value and quantity. For the months of August, soybeans and soybean meal broke records for value and quantity, while sugar broke records for volume. 

Foreign sales of soybeans reached a record US$4,19 billion for the months of August, an increase of 12,3%. The volume exported was also a record, with 8,39 million tons (+41,1%). China, as the main destination for this product, increased its share from US$2,72 billion to US$3,15 billion.

Soybean meal registered sales of US$ 1,19 billion, a figure obtained due to the record volume exported for the month of 2,41 million tons. The European Union continues to be the main importer of Brazilian soybean meal with purchases worth US$504,29 million, equivalent to 1 million tons.

Foreign sales of corn reached 9,33 million tons, a record amount for the historical series that began in 1997. The value reached US$2,21 billion in the month surveyed. China imported practically a quarter of cereal exports.

Sugar registered foreign sales of US$1,78 billion, an increase of 48,7% and the quantity exported was 3,63 million tons (+23,0%), a record for the months of August.

YTD (January to August)

Between January and August this year, exports totaled US$ 112,68 billion, an increase of 4,2%. The increase is due to the expansion in the quantity exported, even with a 5,2% decline in the price index. Sales of soybeans, sugar and corn were the products that most contributed to the favorable performance in the year to date.