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.
Sponsored by the Argentine Foreign and International trade ministry, a business delegation from Argentina visited the UK for a round of negotiations involving companies linked to the food and beverage industries.
Brazil is forecasted to gain a 19.3% larger quota of chicken meat exports to the UK in accordance with the bilateral agreement signed last November 17 at the World Trade Organization (WTO), according to information from the financial press agency Valor.
A severe drought, followed by several episodes of frost, is expected to reduce Argentine wheat harvest by 40% from initial estimates to around 11/12 million tons, which is expected to have an impact on the Mercosur partner Brazil.
The UN and Turkey-sponsored deal aimed at easing global food shortages by facilitating Ukraine’s agricultural exports from its southern Black Sea ports was extended for 120 days last Friday, though Moscow complained that its own demands had not been fully addressed.
Brazil’s soybean exports are expected to reach 78 million tons this year, 9.3% down from 86.3 million tons in 2021, according to the grain exporters’ association Anec. But the figure is 2.5 million tons higher than the previous 75.5 million tons estimate for full-year soybean shipments.
UK Foreign Secretary, High Representative of the European Union, and US Secretary of State gave a statement on global food security and Russia sanctions. The statement follows on Russia's complaints that it saw no progress on easing its exports of fertilizers and grain – parts of the Black Sea grain deal that Moscow views as fundamental to extending the initiative beyond next week.
Brazil’s JBS SA, the world’s largest meat producer reported last Friday that quarterly profit plunged 47.1%, with results still beating analysts’ estimates as higher revenues helped offset shrinking margins in its U.S. beef division.
The 2022/23 wheat harvest forecast in Argentina has been cut to 11.8 million tons, down from 13.7 million tons previously, the Rosario grains exchange said in its latest report, warning it could fall further amid a protracted drought that is causing great losses for farmers and foreign currency short Argentina.
Chile's Federation of Fruit Producers of Chile (Fedefruta) has reported exports this season could be very good for everyone, thanks to favorable weather, it was reported Wednesday.