Agribusiness Exports Reach Nearly $9 Billion in August

Written by Valdemar Medeiros

Published on 12/09/2020 at 13:06

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Agribusiness Sales Were Driven by Soybeans and Sugarcane. The Value Represents an Increase of 7.8% Compared to the Same Month in 2019

Brazil exported US$ 8.91 billion in agribusiness products in August of this year. The value represents a 7.8% increase compared to the same month last year (US$ 8.26 billion). The increase was due to the quantity of products exported, which recorded a 16.5% increase when comparing August 2019 to 2020. The growth was US$ 646.24 million in absolute values.

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The Secretariat of Commerce and International Relations of the Ministry of Agriculture, Livestock, and Supply (Mapa) released the Agribusiness Trade Balance on September 11 (Friday). According to the secretariat, the increase in external sales of soybeans and sugarcane was responsible for the month’s results. Agribusiness represented more than 50% of the country’s total exports.

Soybean Exports Reached US$ 2.21 Billion (+25.1%). Of This Total, China Purchased About 75%, Representing US$ 1.65 Billion

With the drop in sugar production in India and Thailand in the 2019/2020 harvest, there were new opportunities for Brazil to increase exports of the product, which reached US$ 960 million in August, with an increase of 107%.

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Shipments of Brazilian agribusiness products to China also explain the increase in the analyzed month. There were 30% more shipped to the Asian country than recorded in 2019 (US$ 639 million), totaling US$ 2.7 billion in August.

Agricultural product imports decreased from US$ 1.10 billion (August 2019) to US$ 912 million (August 2020), representing a drop of 17.3%. Thus, the trade balance for August totaled US$ 7.1 billion.

Agribusiness Exports Reach Nearly $9 Billion in August

Agribusiness Sales Were Driven by Soybeans and Sugarcane. The Value Represents an Increase of 7.8% Compared to the Same Month in 2019

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Agribusiness Exports Reach Nearly $9 Billion in August

Agribusiness Sales Were Driven by Soybeans and Sugarcane. The Value Represents an Increase of 7.8% Compared to the Same Month in 2019

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