Brazilian agribusiness exports in September near USD 13.71 billion

In September 2023, Brazilian agribusiness exports reached $13.71 billion, a figure nearly identical to that of September 2022. This value accounted for 48.2% of Brazil’s total exports.

Data from the Secretariat of Commerce and International Relations at the Ministry of Agriculture and Livestock (SCRI/Mapa) indicate that September’s figures were significantly influenced by the decline in the price index of exported products. However, the record grain harvest of 2022/2023 increased Brazil’s export volume.

For analysts at SCRI, soybeans, corn, and sugar are the products that deserve special mention for the month.

Soybean exports hit a record volume for the month of September, totaling 6.4 million tonnes. This shipped amount is almost 60% higher than in the same month of the previous year. China’s share in Brazil’s soybean purchases rose to nearly 80% of the volume exported in the same period last year.

Soybean exports amounted to $3.30 billion in September 2023, a growth of 31.8%.

The chart below shows soybean (whether or not in meal form) exports from Brazil between Jan 2019 and Aug 2023. The data is from DataLiner.

Soybean exports from Brazil | Jan 2019 – Aug 2023 | WTMT

Source: DataLiner (click here to request a demo)

Another highlight is corn. Corn exports amounted to $1.98 billion, representing over 95% of the total value exported by the sector. This value reflected a 10.2% expansion compared to the $1.79 billion exported in September 2022. Similar to soy, China has become the primary importer of Brazilian corn.

The third product with a favorable performance in September was sugar. International sugar prices remained high in September due to the drought in Asian crops and concerns about a potential crop failure.

Brazilian sugar exports rose from $1.23 billion (September 2022) to $1.60 billion (September 2023), an increase of almost 30%.

The chart below shows the volume of sugar exports from Brazil between Jan 2019 and Aug 2023. The data is from DataLiner.

Brazilian sugar exports | Jan 2019 – Aug 2023 | WTMT

Source: DataLiner (click here to request a demo)

The 21.7% increase in average export prices is the primary factor responsible for the growth in export value, though there was also a 6.3% increase in export volume. The largest importers of the product are China ($309.85 million; +12.3%); Egypt ($144.69 million; +240.7%); India ($128.71 million; +561.5%); Indonesia ($120.18 million; +73.3%).

Year-to-date (January to September)

Between January and September 2023, Brazilian agribusiness exports reached a historical record of $126.22 billion, representing a 3.6% growth compared to the same period in 2022 ($121.87 billion). Soybean and corn exports were the products that contributed the most to this favorable performance in the year-to-date figures.

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