Agricultural exports from Latin American countries grew by 8.5% in April, year-on-year, and the growth trend is expected to continue in May, in a scenario in which the region's total exports fell by 29.9%. “Agricultural exports from 14 countries in Latin America and the Caribbean increased by 8.5% in dollar terms in April from a year earlier, as part of a deep decline of 29.9% in total foreign sales,” noted the Inter-American Institute of Agriculture and Cooperation (IICA).
Meanwhile, he highlighted that “preliminary data for May confirm this trend, indicating that the production and trade of agricultural products will be one of the drivers of the region’s economic recovery.” The countries considered for the statistics were Argentina, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Mexico, Paraguay, Peru and Uruguay.
In May, according to preliminary data available in seven countries, the trend compared to the previous month was maintained, with an increase in agricultural exports of 11.1%, while total goods decreased by 15.7%. The countries that recorded the largest increase in their agricultural exports in April were Brazil (28.9%), Costa Rica (8.2%), Argentina (4.95%), Bolivia (4.9%) and Guatemala (4.7%), while agricultural exports from Peru and Uruguay fell significantly, contracting 41.7% and 16.8%, respectively.
The products whose exports recorded the biggest increase in April were soybeans, sugar, beef and pork in Mercosur countries, which benefited from Chinese demand.
Source: agrolink
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