MercoPress. South Atlantic News Agency

Brazilian agriculture record sales; China main client, soy and beef leading exports

China Absorbed 33% of all Brazilian agriculture exports, some US$ 45billion

Brazilian agribusiness exports reached a record of US$ 136.10 billion in the first ten months of 2022, which represents a 33.0% increase in value over the same period in 2021, according to the country's official foreign trade office. China remained as the leading destination for Brazilian commodities, purchasing US$ 45.28 billion, equivalent to 33.3% of total exports Brazilian agriculture.

In percentage terms, Chinese participation in Brazilian exports fell slightly in the first ten months of this year, compared to 36.3% in the same period last year. Despite this, revenue from shipments to the Chinese market far exceeded the total value of exports to the group of the ten major destination countries for Brazilian agricultural products.

According to data released by the Ministry of Agriculture, the increase in sales of soybeans was the main driving force for the historical record in exports to China, which had a growth of 21.8% in the period. Another product that contributed to the change in export value was fresh beef, whose exports increased by US$ 3.10 billion in the period.

The Ministry also informed that produce from the soy complex, the powerhouse of Brazilian agribusiness, registered US$ 56.25 billion in foreign sales from January to October, with a growth of 28.8% in comparison with the previous year. China remained the primary destination market, having acquired 67.9% of all foreign sales of the oilseed equivalent to US$ 29.85 billion.

The animal protein sector ranked second in agribusiness exports, with an 29,5% increase in exported value. More than half of this amount (51.50%) corresponded to sales of fresh beef, of which 67.7% (equivalent to US$ 6.96 billion) were destined for the Chinese market. On the other hand, chicken meat exports totaled almost US$ 8 billion, and, as with beef, China was also the leading destination market, generating around US$ 1.11 billion.