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The Main Product Exported by the Brazilian Agriculture Sector, Soybean Had a 95% Decline in Value and 96% in Quantity in January
Soybean exports, one of the largest movements in the country’s economy, fell by a total of 2.6% compared to January 2020. During this period, the value of external sales of oilseeds decreased by 95%, and the quantity dropped by 96%. Due to delays in planting and harvesting, the total volume exported in January was only 49.5 thousand tons, the lowest level for the agriculture sector since January 2014.
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Yesterday, AgRural reported that the delay in harvest and ongoing rains in some areas resulted in only 2.5 million tons of oilseeds being harvested this year. In the same period of 2020, there were 12 million.
Production and Exports of Sugar and Corn:
In the last 12 months, the value of oilseeds increased by 95%, and the decline in soybean exports was partially offset by corn and sugar. External sales of corn reached 2.5 million tons, a 33% increase compared to January 2020. Sugar rose to 2.1 million tons, an increase of 44%.
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According to data from Cepea – Center for Advanced Studies in Applied Economics, in the first month of this year, the price of a sack of corn was 83 reais, a 62% increase over 12 months. In 24 months, the growth rate was 113%. The price of sugar sacks in the domestic market reached a record of 109 reais, a 76% increase compared to 2020.
Corn and sugar are expected to increase domestic prices in the coming months. China has entered these markets for good. The Chinese are expected to receive about 27 million tons of grains this year. The previous year was 7.6 million tons. In the off-season, there are few rice exports.
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