In August, Brazil once again recorded growth in agribusiness exports. US$ 8.91 billion in products followed out. This represents an increase of 7.8% compared to the same month last year when US$ 8.26 billion were exported. The numbers were released by the Secretariat of Commerce and International Relations of the Ministry of Agriculture.
The increase was due to the quantity of products exported, which registered an increase of 16.5%. The growth was US$ 646.24 million in absolute values. Agribusiness represented more than 50% in the country's total exports. In August 2019, the sector accounted for 42%.
In August 2020, the five main exporting sectors of Brazilian agribusiness were: soybean complex (31.1%); meat (16.7%); cereals, flours and preparations (12.8%); sugar and alcohol complex (12.4%) and forestry products (10.0%). The sum of exports from these five sectors was 83.0% of Brazilian agribusiness exports. The share of these same sectors in August 2019 was 80.8%.
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In soybeans there were US$ 2.21 billion, an increase of 25.1%. In absolute values, US$ 443.11 million more were accounted for between August 2019 and 2020. China purchased close to 75% of this total, which represented US$ 1.65 billion.
The drop in production in India and Thailand opened new markets to Brazil for Brazilian sugar. In absolute values, an increase of US$ 418.81 million. US$ 960 million were exported in August, with an increase of 107%.
Shipments of Brazilian agribusiness products to China also explain the increase in the month analyzed. 30% more were dispatched to the Asian country than registered in 2019 (US$ 639 million), totaling US$ 2.7 billion in August.
Imports of agricultural products decreased from US$ 1.10 billion to US$ 912 million, which meant a decrease of 17.3%. Thus, the trade balance balance in August totaled US$ 7.1 billion.
Source: agrolink
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