The top destination in Africa of Brazilian agribusiness goods in the first half of the year, Egypt has dramatically stepped up its purchases of sugar and soybean from the Latin American giant. On the other hand, Egypt supplies a significant volume of fruits to Brazil.
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Brazil doubled sugar sales to the Arab market in Q1 and stepped up iron ore exports by 43%, driving up the revenue. Imports of Arab products declined.
The director of International Relations of CNA, Sueme Mori, said Middle Eastern, Asian, and African nations could increase their demand.
SI Global Group executive seeks refined sugar suppliers to distribute across the emirate. The group aims to import some 30 to 60 containers monthly at first. Purchases could increase after these early shipments.
Agribusiness products were the top exports from Brazil to the bloc, which reached USD 11.47 billion, down 6.3%. Decline was lower than in other Brazil’s foreign partnerships, though.
Foreign sales fetched USD 1.2 billion last month, up 121% from October 2019. Sales to Arab countries came out to USDE 294 million.
External purchases reached USD 2.82 billion year through April, a 11% year-on -year decline.
From January to July of this year, the country’s foreign purchases totaled USD 5.2 billion.
Foreign sales from Brazil were up 3% year-on-year. Soy, the primary driver of sales, accounted for 58% of total goods shipped abroad from Brazil.
