Agro achieves record US$16bn in exports in March and year-to-date

In March of this year, the amount exported by Brazilian agribusiness reached a record US$ 16 billion. The most outstanding products in the month were soybeans (+US$ 878.3 million), corn (+US$ 397.8 million), soybean meal (+US$ 330.5 million), raw cane sugar (+US$ 215.2 million) and fresh chicken meat (+US$ 214 million). In all, the products contributed with US$ 2 billion to the increase in exports, an amount greater than the growth of US$ 1.6 billion in the sector’s total foreign sales. In March 2022, agribusiness exports were US$ 14.4 billion.

According to an analysis by the Department of Commerce and International Relations of the Ministry of Agriculture and Livestock, the quantum index of Brazilian agribusiness exports rose 7.1%, and the price index of exported products increased by 3.5%. The Brazilian state that most contributed to this result was Mato Grosso, which is a national highlight in the production of bean and corn. Economist Carla Beni, from FGV, explains that the delay in exports and the price of crude oil are factors that contributed to this positive result. “The month of February had some delays in shipments, so this has now been compensated for in March. So in the agricultural sector, the volume shipped was higher in March than in previous periods. Another point that helped boost exports was crude oil, as the volume exported rose by more than 100%. Even as the price of oil dropped, volume increased. And this is due to the resumption of platforms that were under maintenance”.

The Safras e Mercados consultant Luiz Fernando highlights the positive numbers in the production and exports of grains and bran that Brazil has already reached and points out that the expectation is favorable for Brazil throughout this year. “April, May, June are the main months for exports of soy in grain from Brazil, because that is where most of the volume is available. For the month of April we have already booked 15 million tons for shipment. The prospects are great. We have a lot of production, we can export a lot this year”.

Last year, the trade balance registered a record surplus of 62 billion dollars. And for this year there is a positive expectation from the economic team that Brazil will reach a positive balance of US$ 84 billion, an increase of 36.8% compared to last year.