Brazilian exports were down by 9.6% in August, while agribusiness sales climbed by 9%.
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Brazilian sector stood out amid the economic rebound and during the COVID-19 crisis. Valued exchange and export capacity make Brazilian agribusiness companies more attractive for foreign investors.
Despite the global crisis caused by the COVID-19 pandemic, the sector stepped up imports on April. Brazil’s demand for fertilizers is expected to grow by 1.5% to 3% in 2020.
IBGE forecasts a harvest of 246.7 million tonnes in 2020, up 2.2% from a year ago.
The country produced 241.5 million tonnes of cereal last year, up 6.6% from 2018. In 2020, the crop is expected to reach a new historic level.
The country got a revenue of USD 1 billion from exports of the product – mainly corn and rice – to the Arab world.
Last month saw USD 8.21 million worth of product shipped from Brazil last month. Meats led the way, with sales also increasing for maize, cotton, and orange juice.
National Supply Company estimates 2019-2020 grain output to reach 246.4 million tons, up 18% from the previous crop.
The value of Brazilian agricultural production reached USD 86 billion last year, up 8.3%.
Sales from Brazil to the region fetched USD 892 million in July. Saudi Arabia, Egypt, and the United Arab Emirates are some of the leading buyers.
Exports from Brazil to the region grossed USD 642 million in June, up 26% year-on-year.
The country accounts to 25% of global trade of the product, up from a meager 1% ten years ago, according to the Food and Agriculture Organization of the United Nations (FAO).
The National Supply Company sees output potentially reaching 95 million tons in the 2018/2019 season.
The Brazilian National Company of Supply and IBGE have released their projections for the crops. Both expect growth.
