Minas Gerais agribusiness exports break new record in the first quarter of 2024

Agribusiness exports from Minas Gerais reached a new record in the first quarter of 2024. The total value of international sales in the sector reached US$3,4 billion, representing an increase of 5,1% compared to the same period of the previous year. The total volume invoiced was 3,3 million tons, registering an increase of 4,4% compared to the first quarter of 2023.

These results were driven by the increase in revenue, volume shipped and the average price per ton sold on the international market.

The performance of foreign coffee trade stands out, both in grain and soluble, responsible for 47,4% of international transactions in Minas Gerais agribusiness. There was a significant increase of 23,2% in value and 27,8% in volume, totaling US$ 1,6 billion and 7,6 million bags.

"This shows that the adverse scenario of December 2023, with scattered rains and hot weather, recovered in January, when the rains were more voluminous and the temperature was milder", comments the Undersecretary of Agricultural Policy and Economics at State Secretariat for Agriculture, Livestock and Supply (Seapa), Caio César Coimbra. 

Agricultural products represented 36% of Minas Gerais' sales to the world. The main destinations for Minas Gerais exports of agricultural products were China (US$794 million), the United States (US$406 million), Germany (US$270 million), Belgium (US$172 million) and Italy ( US$156 million).

The data are from the Ministry of Development, Industry, Commerce and Services. For the coming months, the outlook is optimistic, with forecasts of growth in exports of coffee, beef and sugar, in addition to a recovery in the general performance of commodity prices in relation to the current year.

Main products

The sugar and alcohol complex, the third main segment of Minas Gerais' agribusiness exports, accounted for US$484 million and 950 thousand tons, with significant increases of 80,5% and 63% in revenue and quantity shipped, respectively. Sugar was the item that drove the increase, with the amount of US$ 466,5 million and 921 thousand tons.

Meat also performed well, with a total of US$313 million and one hundred thousand tons exported, representing 9% of agribusiness sales. Beef was the most notable, with an increase of 18% in value and 30% in volume, totaling US$ 226 million and 52 thousand tons exported.

The soybean complex recorded drops of 36,4% in value and 18% in volume, with sales of US$556,5 million and 1,2 million tons.