Economy

Brazilian agribusiness exports hit record in January

There was an increase in the value and quantity exported

Wellton Máximo – Repórter da Agência Brasil

Published on 17/02/2023 - 13:25

Brasília

Colheita de milho, Espiga de milho, Grãos, Colheitadeira — © Wenderson Araujo/Trilux

For the first time in history, Brazilian agribusiness exports exceeded $ 10 billion dollars in January. Last month, the sector exported $ 10.23 billion dollars, a growth of 16.5 percent in relation to January 2022. The numbers were released this week by the Ministry of Agriculture and Livestock.

Within this period, agribusiness accounted for 44.4 percent of Brazilian exports. The record value resulted from a 10.5 percent increase in export prices and 5.5 percent increase in the quantity shipped.

Corn, whose sales totaled $ 1.8 billion dollars, up 166.4 percent, had an outstanding export position. The exported volume corresponded to 6.2 million tons, a record for the month of January. The lower production of grain in Ukraine, because of the war, has boosted foreign sales of the Brazilian product.

As for imports, they totaled $ 1.54 billion dollar in January, up 38.3 percent compared to January 2022 ($ 1.12 billion dollars). The figure includes only food, not inputs used in agricultural production, such as fertilizers, pesticides, parts, and equipment.

Harvest Delay

The performance of the agribusiness balance of trade could be better were it not for soybean. The soybean complex (grains, bran, and oil) exported US$ 1.5 billion, a 26.6 percent decrease. Regarding grains, the exported volume fell 66 percent compared to January of last year. According to the Ministry of Agriculture, the low volume of rain has delayed the harvest in the main producing regions in Brazil.