Agro – Soy exports fall 96% in January

The main product exported by the Brazilian agribusiness sector, soy had a 95% drop in value and 96% in quantity in January

Soybean exports, one of the biggest movements in the country's economy, fell by a total of 2020% compared to January 2,6. During this period, the value of foreign oilseed sales fell by 95%, and the quantity dropped by 96%. Due to the delay in planting and delayed harvesting, the total volume exported in January was only 49,5 thousand tons, the lowest level in the agribusiness sector since January 2014.

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Yesterday, AgRural disclosed that the delay in the harvest and the continuation of rains in some areas meant that only 2,5 million tons of oilseeds had been 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 drop in soybean exports was partially offset by corn and sugar. Corn foreign sales reached 2,5 million tons, an increase of 33% compared to January 2020. Sugar increased by 2,1 million tons, an increase of 44%.

According to data from Cepea – Center for Advanced Studies in Applied Economics, in the first month of this year, the price of a bag of corn was 83 reais, an increase of 62% in 12 months. In 24 months, the growth rate was 113%. Bags of sugar in the domestic market reached the record mark of 109 reais, an increase of 76% compared to 2020.

Corn and sugar should increase domestic prices in the coming months. China entered these markets once and for all. The Chinese should receive about 27 million tons of grain this year. The previous year was 7,6 million tons. In the off season, there are few exports of rice.