corn exports - ADM

Heavily influenced by corn, agro exports reach US$8.4bn in October

Nov, 08, 2019 Posted by Sylvia Schandert

Week 201946

Foreign sales of corn registered record value and quantity exported for the month of October. Corn exports were of US$1bn (+91.3%). The exported quantity of grain was also hit a record, from 3.1m to 6.14m tons exported (+97.6%).

According to the Secretariat of Commerce and International Relations of the Ministry of Agriculture, Livestock, and Supply (Mapa), the record corn crop of almost 100m tons, according to a survey by Conab (September/2019), was the main factor that allowed the increase of foreign sales of the cereal.

Another product that deserves a highlight in October exports was cotton. Exports of cotton (not carded or combed) reached US$440.73m (+43.7%), corresponding to 273,400 tons.

In regards to meat, US$1.53bn was exported in October. Beef exports stood out, with record value and quantities at US$806.61m (+30.4%) and 185,400 tons (+14.9%). Pork sales also rose, reaching US$148.51m (+38.5%) and 67,100 tons. On the other hand, foreign sales of chicken meat fell by 7.8% to US$529.13m and 326,900 tons (-8.3%).

Total Exports

Agribusiness exports were of US$8.41bn in October this year, up 0.8% from US$8.35bn in the previous year. The increase in exports was due to the increase in the quantity exported (+6.8%). On the other hand, the export price index decreased by 5.7% compared to October 2018.

Imports of agribusiness products also grew, from US$1.19bn in October 2018 to US$1.21bn in October 2019 (+1.3%).

Agribusiness’s share in the October trade balance was 46% of total exports.

The following chart, based on Datamar DataLiner data, shows Brazilian corn exports by quarter:

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