Brazil’s Agribusiness Exports Reach US$ 7.9 Billion in July. A 50% Growth

    Brazilian cattle

    Brazilian cattle Brazil agribusiness' trade balance posted two significant results this past July: exports totaled US$ 7.9 billion, 50% more than in the same month of 2007, and the trade surplus was US$ 6.8 billion.

    In the accumulated result for the last 12 months, the surplus has reached US$ 57.3 billion, with foreign sales of US$ 68.1 billion, 24% more than recorded from August 2006 to July 2007.

    The results, disclosed this July 7 by the Brazilian Ministry of Agriculture, indicate that figures should continue to rise, as agribusiness exports in the first seven months this year have already totaled US$ 41.7 billion.

    Items that led the expansion were soy, meat, forestry products and sugarcane, as a result of greater volumes shipped and rising international prices.

    In July, exports of the so-called soy complex products (oil, grain and chaff) totaled US$ 2.8 billion. Foreign sales of soy grain alone totaled US$ 1.9 billion, growth of 121%, considering an increase of 71.8% in product pricing and of 28.7% in volume shipped. Meats (bovine, swine and poultry) generated US$ 1.4 billion, 55.2% more than in the same month of last year.

    The dairy sector, which ranks among the leading exporter segments, had an outstanding performance last month, with a 226.3% increase in exports compared with July 2007. In the first seven months this year, sales of dairy products totaled US$ 291 million, 169% more than in the same period of the previous year.

    According to the Ministry of Agriculture, the figures "reflect the growing global demand for these products, and attest to the consolidation of Brazil as a leading dairy exporter."

    The European Union (EU) remains the leading destination for Brazilian agribusiness exports, with a 33.6% share in the last 12 months. The volume shipped to Asia, Middle Eastern countries not included, was roughly the same as that of the EU.

    The highlight was China, which increased its agribusiness imports by 103% in the first seven months this year. Thus, the country accounted for a 13.2% share of Brazilian exports, overtaking the Netherlands, which bought the equivalent to 9.5%, and the United States, which purchased 8.7% of total Brazilian agribusiness exports.

    ABr

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