Agribusiness sales to Middle East soar

Exports from Brazil to the region grossed USD 642 million in June, up 26% year-on-year.

From the Newsroom

São Paulo – The Middle East was a key export destination for Brazil’s agribusiness industry in June and H1 this year, the Brazilian Ministry of Agriculture, Livestock and Supply reported, with June sales grossing USD 642.35 million in June, up 26.4% year-on-year.

Exports picked up the most to Saudi Arabia, Egypt and the UAE, with meats leading the way. Exports to Saudi Arabia came out to USD 118.76 million in June, up 38.5%. Egypt purchased USD 118.32 million worth of agribusiness products from Brazil, up 81.7% year-on-year. Sales to the UAE amounted to USD 110 million, up 39.5%.

Year-to-date through June, exports to the Middle East grossed USD 3.94 billion, up 19.8% year-on-year. The top-selling product whose sales climbed the most was beef, followed by poultry. Soy and maize exports also went up.

Total exports

Brazil’s agribusiness industry exported USD 8.34 billion worth of goods in June, down 8.9% year-on-year, even though shipped volume was up 0.6%, since the average price of goods slid.

H1 agribusiness exports from Brazil fetched USD 47.69 billion, down 3.6% year-on-year on the back of sliding prices, while shipped volume was 3.8% bigger.

Translated by Gabriel Pomerancblum

Nelson Almeida/AFP

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