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.
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Last month saw 14.9 million tons shipped. More than half of quarter one sales went to China, but Algeria was one of the ten biggest importers.
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.
A Brazilian Central Bank study concluded that basic items such as soya and ore were the pillars of foreign sales from the country in 2020.
A survey conducted by the Arab Brazilian Chamber of Commerce’s Market Intelligence Department shows that that price hike is partly prompted by an expected increase in the commodity’s prices in years to come. The Arab countries that could potentially buy more product include Bahrain, Iraq, Jordan, Lebanon, Palestine, and Sudan.
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.
Brazilian exports were down by 9.6% in August, while agribusiness sales climbed by 9%.
The National Association of Cereal Exporters expects shipments to increase year-to-date through August from a year ago.
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.
Foreign sales of agriculture and livestock products from Brazil fetched USD 10 billion last month, fueled by sales of soy to China.
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.
Sales to China are still going strong, driven by more affordable Brazilian product. Mato Grosso state industry association Aprosoja has revised down its output estimate.
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.
National Supply Company estimates 2019-2020 grain output to reach 246.4 million tons, up 18% from the previous crop.
