Economy

Brazilian agro exports in 2020 exceed US$ 100 billion for the second time in history

Jan, 13, 2021 Posted by Ruth Hollard

Week 201102

Brazilian agribusiness exports totaled US$ 100.81 billion in 2020, the second-highest value ever recorded, behind only 2018 (US$ 101.17 billion). There was a 4.1% growth in foreign sales in the sector compared to 2019. Agribusiness was responsible for almost half of Brazil’s total exports in 2020, holding a record share of 48%. According to the Department of Trade and International Relations of the Ministry of Agriculture, Livestock and Supply, the expansion was the result of an increase in the exported amount (+ 9.9%), since the price index fell 5.3%. Imports of agribusiness products fell by 5.2%, reaching US$ 13.05 billion. The increase in exports and the fall in imports resulted in a surplus balance of US $ 87.76 billion for the sector.
The soy complex (grain, oil, and soybean meal) was the main product in the export basket, with 101.04 million tons exported valued at US$ 35.24 billion. Grain exports represented 81.1% of the exported value and reached the second-highest value ever recorded, with 82.97 million tons exported valued at US$ 28.56 billion. The export was greater in value and quantity only in 2018 when 83.25 million tons were exported valued at US$ 33.05 billion.
Meats occupied the second position in the ranking of agribusiness exporting sectors in 2020, with sales of US$ 17.16 billion. Sales of beef corresponded to 49.4% of this amount, a growth of 11.1% compared to 2019. Exports of fresh beef set a record in value (US$ 7.45 billion) and quantity (1.72 million tons). Chicken meat exports represented 34.9% of the total exported by the meat sector in the 12 months, with sales of US$ 5.99 billion. Foreign sales of pork totaled US$ 2.25 billion, of which 94.1% corresponded to fresh meat. The amount recorded in fresh pork exports set a new record, both in value (US$ 2.12 billion) and in quantity (901.10 thousand tons).
Regarding buyers, China acquired 73.2% of the exported soybeans, which corresponded to US$ 20.91 billion (2.2% higher than 2019). It was also the main destination for fresh beef exported, 54.2% (US$ 4.04 billion). The country contributed to the growth of these sales (beef) since it acquired US$ 1.35 billion more than in 2019 (+ 50.3%).
See the graph below for Brazilian agribusiness handling since 2010:

Brazilian Agribusiness Handling | Jan – Nov 2010-2020 | TEU

Source: DataLiner (To request a DataLiner demo, click here)

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