November 12, 2012

Brazilian Agricultural Exports Set Record during October

Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.

Brazilian exports of agricultural products set a new record during the month of October of US$ 9.64 billion according to the Minister of Agriculture. The October figure represented an increase of 11.8% compared to October of 2011. For the period from January through October, Brazilian agricultural exports have totaled US$ 80.88 billion or an increase of 1.8% year-on-year.

The major product exported during the month of October was sugar which totaled 3.93 million tons valued at US$ 2.34 billion or an increase of 56% compared to last October.

During the January-October period, the exports of soybean complex including soybeans, soybean meal, and soybean oil totaled US$ 24.65 billion, which is an increase of 15% year-on-year. Brazilian corn exports have already totaled 13 million tons in 2012, which has exceeded the previous record for the period of 10.9 million tons set in 2007.

The receipts from Brazilian meat exports remained basically stable thus far in 2012 at US$ 12.98 billion (+0.1%) despite an increase of 4.7% in the volume of meat exported. During the January through October period, Brazil exported 3.12 million tons of poultry (US$ 5.92 billion), 1.02 million tons of beef (US$ 4.75 billion), and 0.48 million tons of pork (US$ 1.25 billion).

The major importer of Brazilian agricultural products during the period was the European Union at US$ 18.73 billion or 23% of the total, but individually the largest importers include China at US$ 16.99, the United States at US$ 5.62, the Low Countries at US$ 4.88, and Japan at US$ 2.62 billion.