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The Department of Commerce and International Relations of the Ministry of Agriculture released the performance of exports for May. A record was recorded in the month with US$ 13.94 billion, an increase of 33.7% compared to May 2020. Sales were influenced by the increase in international commodity prices. The price index of agribusiness products exported by Brazil increased by 24.6%.
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Analysts point out that the pandemic has precipitated a new era of intensive commodity use, as governments emphasize job creation and environmental sustainability, rather than the focus on financial stability triggered by the 2009 crisis. Furthermore, strong Chinese demand continues to put pressure on the prices of grains, such as corn and oilseeds, intended for restoring and expanding pig and chicken herds in China.
Despite the strong increase in agribusiness exports, the sector's share decreased from 59.5% of total Brazilian exports (May/2020) to 51.7% (May/2021).
Agribusiness imports rose, from US$ 837 million (May/2020) to US$ 1.22 billion (May/2021), with an increase of 13.5%. The balance balance was US$ 12.71 billion.
The soybean complex continues to be the main highlight, responsible for practically 60% of the value of agribusiness exports last month. According to the SCRI bulletin, the international scenario for soybeans reflects low North American stocks and high Chinese purchases.
Total Chinese imports of soybeans grew by 12.8% in 2021, rising from 33.9 million tons, between January and May 2020, to 38.2 million tons compared to the same period this year.
Brazilian exports registered a record volume of 16.4 million tons of soybeans in May (+16.3%). The amount and increase in the average export price (+34.5%; US$ 447.73 per ton) generated a record value of US$ 7.34 billion in product exports (+56.3%): +US$ 2.64 billion in absolute value.
In May, China was the country that imported the most soybeans (11.2 million tons), equivalent to 68% of the total exported by Brazil or an absolute increase of 1.1 million tons compared to May 2020. The Union Europe appears in second place with 1.552 million tons (-8.8%), followed by Turkey with 730 thousand tons (+74.5%).
By: Eliza Maliszewski | agrolink
