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Agribusiness exports in October 2022 were a record for the month, reaching the figure of US$ 14.25 billion. The value was 61.3% higher compared to what was sold abroad in October 2021. Exports rose mainly due to the increase in the volume exported between periods, which increased by 38.9%. The price index for exported products also rose, with an increase of 16.1% in the period.
The growth in corn shipments was one of the main factors behind the strong increase in exports, with an increase in volume of 301.7% in the period. In the first ten months of the year, the total volume of grains exported reached 134 million tons, or the equivalent of practically half of the Brazilian grain harvest, which was estimated by Conab at 270.9 million tons (2021/2022 harvest) .
In the year to date, between January and October 2022, Brazilian agribusiness exports reached a record figure of US$ 136.10 billion, which represented an increase of 33% compared to the US$ 102.35 billion exported in the same period in 2021 . The sector represented 48.5% of Brazil's total foreign sales in the period.
Imports of agricultural products totaled US$ 1.43 billion in October 2022, a value 2% higher than what was imported in the same month of the previous year.
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Sectors – In October, the soybean complex, which is the main exporting sector of Brazilian agribusiness, exported US$ 3.68 billion (+49.6%), with an increase in exported volume (+27.6%) and in the international prices of products in the sector ( +17.2%). The sector's main export product was soybeans, with a record record for the months of October at US$ 2.49 billion.
Foreign meat sales reached US$ 2.28 billion (+50.8%). The amount was strongly influenced by average export prices, which rose by 29.9% in the comparison between the months of October 2022 and October 2021. There was also an expansion in the volume sold, which rose by 16.1%.
The cereals, flour and preparations sector saw an absolute increase of US$ 1.75 billion in foreign sales, reaching a value of US$ 2.20 billion. The cereal responsible for this increase was corn, which had a record export volume of 7.2 million tons for the month of October, or an amount 5.4 million tons higher than the volume exported in October 2021.
In the sugar and alcohol complex, foreign sales increased by 90.0%, going from US$ 927.54 million to US$ 1.76 billion between October 2021 and October 2022. Sugar sales were US$ 1.50 billion (+81.1% ), due to the strong increase in exported volume. The forest products sector totaled exports of US$ 1.45 billion (+20.7%).
The five sectors analyzed above were responsible for 79.9% of the total value exported by Brazil in agribusiness products.
Destinations – Asia is the geographic region with the largest share of Brazilian agribusiness exports. In October 2022, the continent acquired US$ 6.83 billion in Brazilian agribusiness products, which meant a growth of 71.0% compared to the US$ 3.99 billion exported in October 2021. China is the largest trading partner of Brazilian agribusiness, and in October sales to the Asian country grew by 81.8%, reaching US$ 4.06 billion.
Asia and the European Union accounted for 64.2% of the total value exported by Brazil in agribusiness products in October.
Source: Aline Merladete | agrolink
