2020: A Record-Breaking Year for Agribusiness

Written by Roberta Souza

Published on 23/12/2020 at 11:06

Agronegócio

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High Dollar, Internal Prices Never Seen Before and Strong External Market Demand Established Agriculture This Year of 2020

The Brazilian agribusiness ends 2020 on a high note, with records and great expectations for the next year. The sector, which initially expected to suffer from logistical issues, both internally and externally, presented impressive numbers. According to data from Cepea – Center for Advanced Studies in Applied Economics, the agribusiness GDP grew 8.5% from January to August.

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This year, the domestic market saw a significant increase in consumption and faced unprecedented prices. Brazilian producers benefited from internal prices, both in the grain sector and livestock. The dollar’s rise also benefited producers, providing attractive prices for their products. In the external market, there was strong demand, mainly from China.

The Basic Product Value – VBP is set to reach a record of 886 billion reais this year and will surpass 1 trillion reais in 2021.

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Trade balance data shows that the agribusiness sector is essential for the country’s accounts this year. From January to November last year, before the pandemic, agribusiness exports accounted for 43% of the country’s total external sales. This year, that proportion rose to 49%.

During this period, the total value of sector exports was 94 billion dollars, a 5% increase. By November, the sector’s net balance was US$ 82 billion, due to a 7% reduction in imports. On the other hand, according to data from Secex – Secretariat of Foreign Trade, exports outside the agribusiness sector fell by 15% during the period.

Soybeans and sugar are two products that stand out in the external market and have had positive effects on producers’ incomes domestically. Oilseeds continue to be a highlight in the Brazilian economy. By November, Brazil exported 83 million tons of grains. As a result, the total revenue from the entire factory (grains, meal, and oil) reached 35 billion dollars, an increase of 13% compared to last year.

2020: A Record-Breaking Year for Agribusiness

High Dollar, Internal Prices Never Seen Before and Strong External Market Demand Established Agriculture This Year of 2020

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