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Brazilian agribusiness exports reached US$ 11.6 billion in March, a record value for the month and which represents an increase of 28.6% compared to the same period in 2020, according to analysis by the Brazilian Agriculture and Livestock Confederation (CNA) with based on data from the Ministry of Economy. From January to March, foreign sales total US$ 23.5 billion.
The monthly trade balance (exports – imports) recorded a surplus of US$ 10.2 billion, the best result in 12 months. The main product in the export basket was soybeans, which reached revenue of US$ 5.4 billion, an increase of 43.1% compared to March last year.
“The advancement of harvests that were delayed in the first two months of the year and affected shipments in the period was the main factor behind the significant increase compared to the same month in 2020”, explains CNA in a Technical Communication. The shipment of soybeans accounted for 46.3% of total agricultural exports.
Beef was the second most exported item in March this year, with growth of 11.6% compared to March/2020 and revenue of US$ US$ 617.2 million. The result was driven by international demand, mainly from China, which helped boost global protein prices and stimulated exports.
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According to the CNA, some items showed a significant increase in exports in March 2021 compared to March 2020. The main increases were for ethyl alcohol (134.8%), cotton not carded or combed (66.8%) and fresh pork (56.7%).
In relation to the sector's export destinations, China was the main market, with a share of 43.3% in the import of Brazilian products. Exports to the Asian country were US$ 5 billion, with four products accounting for more than 90% of the basket: soybeans (77.3%), fresh beef (6.5%), cellulose (4.2%) and meat fresh pork (3.0%).
The European Union ranked second among the main destinations in the Brazilian agricultural export basket, with a share of 14% of products shipped, followed by the United States (5.2%), Thailand (2.6%), Vietnam (2.2%) , Saudi Arabia (1.8%), South Korea (1.7%), Turkey (1.7%), Japan (1.5%) and Hong Kong (1.5%).
The information comes from the CNA communications department.
By: Gabriel Nascimento | Crops & Market
