Tobacco currencies could increase by up to 25% in 2024

Tobacco exports are expected to show a reduction in the volume shipped in 2024, but a relevant increase in foreign exchange, which could be up to 25% higher than that recorded in 2023, when Brazil exported US$2,72 billion. This is the conclusion of the Deloitte consultancy, based on data provided by SindiTabaco members. Projections for 2024 indicate a drop in volume, between -15% and -10,1%, and an increase in the value of foreign sales, between 20,1% and 25%.

According to the Ministry of Development, Industry and Commerce (MDIC/ComexStat), between January and July, 227.794 tons were shipped, which represents -14,58% compared to the same period in 2023. In dollars, it was US$ 1,44, 0,15 billion, a variation of -XNUMX% compared to the previous year. Belgium, China, the United States, Indonesia and Egypt are among the biggest importers to date.

Iro Schünke, president of SindiTabaco, evaluates the results. “Based on the consolidated data up to July, we noticed that there is already a trend towards a lower volume, however, the dollars shipped continue to show stability compared to 2023. It turns out that the largest volume of shipments is carried out in the second half of the year, especially in the last three months of the year. This is when we will see these numbers presented by the consultancy in a more crystallized way and, certainly, we will surpass the US$3 billion mark in 2024”, comments Schünke.

Brazil has been the world's largest tobacco exporter since 1993. The results maintain Brazil's tradition as the world's largest tobacco exporter. “In 2024, tobacco will certainly be a sector that will contribute positively to the balance of trade, especially in Rio Grande do Sul, where agribusiness was heavily hit by the flood at a time when our sector was going through the off-season in the countryside” , assesses Schünke.

Highlights

• Until July 2024, the largest importers were: Belgium (US$353 million), followed by China (US$302 million), the United States (US$145 million), Indonesia (US$76 million) and Egypt (US$54 million).
• Tobacco represents, to date, 0,73% of the total exported by Brazil. It also represents 11,70% of exports from Rio Grande do Sul (which is the state that produces and exports the most tobacco) and 4,55% of exports from the South region.