Amid uncertainties in the foreign market, Arab purchases of maize from Brazil fetched USD 212.5 million year to date through March, up 132%. The increase reflects a smaller availability from U.S. suppliers, as the country made deals with China.
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In the Brazilian Agribusiness Forum, Arab Brazilian Chamber president Rubens Hannun discussed the challenge and the opportunity for Brazilians in value-added selling. The event took place online on Monday, 19.
Driven by China, Asia is the top destination. Africa’s imports increased, particularly Egypt’s, up 15% from 2019. Other two Arab countries that increased their imports were Jordan, up 18%, and Yemen, 6.1%.
ABIEC forecasts that shipments will end the year at 2.02 million tonnes, fetching over USD8 billion for the first time. Top destinations include Egypt, Saudi Arabia and the UAE.
The Gulf country’s purchases were a highlight in foreign sales of chicken during October at 44,900 tons imported.
Exports from Brazil came out to USD 1.1 billion, the highest monthly result to date this year. Sales increased month-on-month for sugar, iron ore, beef and poultry.
Legal tools for doing due diligence are key when it comes to entering into export contracts with companies big or small. So said Arab and Brazilian attorneys-at-law featured in a webinar this Wednesday (8).
Revenue from foreign sales came out to USD 9.3 billion year-to-date through September.
Slated to open in 2020, the new facility will work to increase exports from the Brazilian state to the United Arab Emirates, and to promote the administration’s privatizations program.
Brazilian trade balance registered exports in USD 3.9 billion and imports in USD 3.3 billion in the third week of February. Balance was positive USD 608 million positive.
In the first two weeks of February, with six working days, Brazil registered USD 4.8 billion in exports and USD 3.8 billion in imports.
Positive balance is the result of USD 3.62 billion in exports and a little more than USD 3 billion in imports.
Brazilian exports reached USD 3.536 billion, and the imports USD 5.521 billion. Negative balance was USD 1.985 billion.
Exports came out to USD 3.86 billion and imports hit USD 1.97 billion in the first week of January in Brazil.
