The 24% growth will be driven by soybeans, maize and cotton, Brazil’s Agriculture Ministry reported.
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Sold for higher prices, agricultural commodities accounted for 71% of the trade with the Arab countries in 2022. Sugar, poultry and iron ore were the leading items sold to the bloc.
The country saw an increase in sales of different agricultural goods to the Arab countries in January, including maize, sugar, beef and poultry.
Easy access, abundance, and low input costs are among the factors that could improve the country’s sustainable plastic chain’s performance.
Trade between Arabs and Brazilians in 2021 reached USD 24.25 billion. The UAE took over as the leading destination for Brazilian products.
With a lower output of Brazilian maize, buyers like Egypt will need to consider alternatives to import the product. An analyst explains the possibilities for countries in the Middle East and North Africa.
According to IBGE estimates, the Brazilian harvest of grains, cereals, and legumes should total 256.1 million tonnes this year. The soybean harvest has already been completed with excellent results.
In an online event on Thursday (20), Cleber Soares of Brazil’s Agriculture Ministry presented an innovation agenda that is being developed to take the Brazilian agribusiness to new levels of innovation. He said the country can transfer knowledge to African countries such as Sudan.
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.
According to information released by the Arab Brazilian Chamber, Brazilian sales to the Arab countries stepped up in the first quarter. Vaccination has boosted the markets in the region.
The hike in costs of commodities such as soya and maize caused feed prices to rise, and the United Arab Emirates are having trouble buying from Brazil.
Brazilian exports were down by 9.6% in August, while agribusiness sales climbed by 9%.
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.
Brazil corn foreign sales hiked in August, which was driven by an increase in production. Egypt was the top destination and imported 291% more.
