Economy

Record-breaking May brings Brazilian agribusiness exports to USD 15bn

Jun, 27, 2022 Posted by Gabriel Malheiros

Week 202226

Brazilian agribusiness exports totaled US$ 15.11 billion in May 2022, up 14.2% from the same month last year. The increase in value was caused by the average export prices of Brazilian agricultural products.

According to a study prepared by the Ministry of Agriculture, Livestock, and Supply, the volume of exported products dropped by 12.6% in May, compared to May 2021. The reduction in exported volume was mainly caused by a decrease in soybean exports, which fell by 4.3 million tonnes in May 2022 compared to May 2021.

The sector’s share of total Brazilian exports reached 51% in May.

In the first five months of 2022, Brazilian agribusiness exports totaled US$ 63.62 billion (+29.0%), a record for the period. The previous January to May record was in 2021, when exports registered US$ 49.33 billion.

Trade sectors

The five agribusiness sectors that exported the most were: the soybean complex (53.9% share), meats (14.8% share); forest products (10.4% share); sugar and alcohol complex (4.4% share); and coffee (4.2% share).

The primary exporting sector of Brazilian agribusiness is the soybean complex, which registered a record value in May 2022, reaching US$ 8.15 billion. The value was 6.2% higher compared to exports in May 2021. The main factor responsible for this record value was the increase in average export prices, which rose, on average, 39%.

See below how soybean shipments behaved in the first four months of the years 2019 to 2022. These data are from Datamar’s DataLiner platform.

Soybean Exports from Brazil | Jan – Apr | 2019 – 2022 | WTMT

 Source: DataLiner (click here to request a demo)

Meat exports reached a record amount of US$ 2.23 billion (+34.3%). This value was due to the increase in foreign sales of beef and chicken. Foreign sales of beef rose 49.7% and reached US$ 1.08 billion.

See below the track record of Brazilian beef exports from January 2021 to April 2022. The data below is from DataLiner.

Brazilian beef exports (HS 0202) | January 2021 – April 2022 | WTMT

Source: DataLiner (click here to request a demo)

The sugar-alcohol complex was the only one among the five main agribusiness exporting sectors to show a reduction in foreign sales. The exported value dropped from US$ 848.23 million in May 2021 to US$ 659.28 million in May 2022 (-22.3%). The decrease is mainly due to the reduced volume of sugar exported (-36.4%).

See below the track record of Brazilian sugar exports (HS 1701) between January 2021 and April 2022. The data below is from DataLiner.

Brazilian Sugar Exports (HS 1701) | January 2021 – April 2022 | WTMT

Source: DataLiner (click here to request a demo)

Imports

Brazilian agribusiness imports totaled US$ 1.53 billion in May 2022 (+25.3%). Fertilizer imports totaled US$ 3.11 billion, up 277.8% from May 2021. Imported volume increased by 56.7%, from 2.6 million tons to 4.07 million tons in 2022.

The main factor responsible for the increase in fertilizer imports was the increase in the average purchase price per tonne, which rose 141.2%, reaching US$ 763.9.

In May 2022, the top five fertilizer suppliers to Brazil were: Russia (US$ 881.10 million; 28.4% share); Canada (US$373.09 million; 12.0% share); Morocco (US$ 3646.60 million; 11.7% share); United States (US$ 152.02 million; 4.9% share); and Oman (US$ 141.30 million; 4.5% share).

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