Record agribusiness exports total US$ 14,53 billion in March this year

Agribusiness exports reached a record value of US$14,53 billion for the months of March, in 2022, a figure 29,4% higher compared to the same month last year. The increase was motivated by the 27,6% increase in the prices of products exported by agribusiness.

According to a survey prepared by the Mapa Secretariat of Commerce and International Relations, export volume grew 1,4% in the period.

Agribusiness exports represented 50% of the entire value exported by the country in March 2022, a movement leveraged by the record high in food prices on the global stage. In relation to imports of agribusiness products, purchases totaled US$ 1,42 billion (an increase of 5,9%).

Products

The soybean complex (grain, bran and oil) continues to lead Brazilian exports, with a record figure of US$7,56 billion, accounting for more than half of the exported value of agribusiness products in March.

Foreign sales of soybean oil alone went from US$117 million in March 52 to US$2021 million in March 328,77, an increase of 2022%, driven by the reduction in the supply of sunflower oil, already that the world's largest producer and exporter is Ukraine, which faces a conflict with Russia.

As for meat, exports surpassed, for the first time, the US$ 2 billion mark for the months of March (US$ 2,10 billion). Beef was the most exported product, with a record of US$ 1,11 billion and 191,58 thousand tons exported, driven by Chinese demand.

main destinations

China remains the main destination for the sector's products, despite a drop in the share of agribusiness purchases between March 2021 (42,3% share) and March 2022 (41,4% share). Last month, sales to the Chinese market reached US$6,01 billion (+26,6%). The main products were: soybeans (US$4,56 billion, +26,0%); fresh beef (US$677,48 million, +108,5%); cellulose (US$271,11 million, +30,3%); fresh chicken meat (US$123,08 million, +20,8%); raw cane sugar (US$96,63 million, +41,2%).

These products accounted for 95,4% of the total value of Brazilian agribusiness products exported to the Asian country.

Accumulated

From January to March 2022, Brazilian agribusiness exports totaled US$33,82 billion (+45,9%), a record value for the period, representing 46,8% of Brazil's total exports: an increase of 5,1 points percentages compared to the same period of the previous year. On the import side, the total reached in the first three months of 2022 was US$3,78 billion (-2,1%).

Both exports in the period and agribusiness imports were affected by the rise in average prices. In the case of exports, there was a positive change in prices (+24,9%) and volumes (+16,8%). Imports registered an increase in average prices (+18,7%) and a reduction in the quantum index in the period (-17,8%).