MercoPress. South Atlantic News Agency

Brazilian 2008 farm exports up 23%, total 71.9 billion

Brazilian farm exports totalled a record 71.9 billion US dollars in 2008, up 23% over 2007, according to the latest reports from the Ministry of Agriculture. Farm exports also reported a surplus of 60 billion US dollars last year while agro-business represented 36.3% of all of the country's shipments.

"The good performance of exports in 2008 was a consequence of the increase in revenue originated in the sale of the main items of the sector's trade balance", said a release from the Brazilian Agriculture ministry. The so called "soy complex" (oil plus beans) increased 58%; beef and other meats was up 29% and coffee, 22%. The soy complex leads exports with 18 billion US dollars followed by meats, 14.5 billion. The Ministry also underlined the 80% revenue increase in dairy produce exports which climbed from 299 million US dollars to 541 million, given the huge surge in prices.