From the Newsroom
São Paulo – Brazil saw its agribusiness export volume go up year-on-year in H1, the Center for Advanced Studies on Applied Economics (Cepea) at the University of São Paulo (USP) reported this Monday (12). Total agribusiness exports were up nearly 4%.
Despite the hike in volume, revenue slid 2.7% to USD 47.8 billion. Cepea researchers imputed this to an 8.5% drop in dollar prices paid to exporters. Revenue in real, the Brazilian currency, was down by over 11%.
Exports were up 125% for cotton, 25% for beef, 9% for poultry, 23% for ethanol, and 56% for wood pulp, Cepea reported. Foreign sales slid for soybean, soya bran and soy oil, orange juice, and sugar.
Maize exports climbed 78% year-on-year in H1, driven by solid external demand and good domestic production. O Egypt, the third biggest importer of maize from Brazil, took in 7% of exports. Foreing sales of meats in general – including beef and poultry – have been doing well. The second biggest importer of Brazilian poultry is Saudi Arabia, at 13.9%. Coffee exports were up 42%, albeit at lower prices. According to Cepea, a good crop around the globe is preventing coffee prices from bouncing back.
Translated by Gabriel Pomerancblum