Brazil’s agribusiness freight market went up 27.4% until May, with grains and fertilizers leading the wayJun, 03, 2022 Posted by Gabriel Malheiros
According to Fretebras, Brazilian agribusiness moved 10.7 billion reais in freight operations in the year to May, up 27.4% from the same time in 2021, owing to the transport of fertilizers and grains.
According to a Reuters study, agribusiness accounted for about a third of the total of 29.7 billion reais involved in freight operations between January and May, followed by industry at 8.2 billion reais and the building sector at 4.5 billion reais.
Fertilizers were the most handled products by the agricultural sector until May, accounting for a quarter of total volume and representing a 19% increase over the previous year.
Given the uncertainty in fertilizer supply caused by the war between Russia and Ukraine, the move comes as rural producers speed up negotiations to purchase the input that will be used in the 2022/23-grain harvest, which begins in September.
Next, the most transported products were soybean, corn, and wheat. The winter cereal represented only 5% of the volume transported by agribusiness but had a 175% increase compared to the same period of the previous year.
In 2022, wheat exports were more intense in the first months of the year after an entire harvest last year, attractive prices and demand in the international market, also influenced by the war in Eastern Europe – Russia and Ukraine are two critical global suppliers of the cereal.
The data showed that the agricultural sector accounted for 35.9% of the total volume of freight, with 1.33 million, an increase of 26.1% compared to the first five months of last year.
Source: Money Times
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