Oct 25, 2010
Brazil Sets New Record for Sugar Exports in September
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
During the last twelve months ending in September, Brazil exported 72 billion dollars worth of agricultural products, setting a new record for the period. The soybean complex was the most valuable export, but sugar and the meat complex recorded very strong sales as well.
The soybean complex (grain, soybean meal, and soybean oil) was the most valuable agricultural export during the last twelve months totaling US$ 16.4 billion followed by the meat complex at US$ 13.4 billion. In third place was sugar/ethanol totaling US$ 12.7 billion.
The star performer during September was Brazil's sugar exports which set a new record at 3.35 million tons for the month. That is 3.8% more than the previous record set just in August. Thus far during the 2010/11 growing season, Brazil has exported 15.46 million tons of sugar compared to 12.67 million tons during the same period last year. The principal destinations for Brazilian raw sugar (71% of Brazil's sugar exports) were Iran, Algeria, and China. The principal destinations for refined sugar were United Arab Emeritus, Pakistan, and Yemen.
The Port of Santos is the main export facility utilized for Brazilian sugar exports and the potential for the port continues to expand. Earlier in September, the Noble Group inaugurated a new terminal at the Port of Santos for the export of sugar as well as grains. The group operates two sugar/ethanol mills in the interior of Sao Paulo and they cultivate 64,000 hectares of sugarcane. They are also building a soybean processing facility in Mato Grosso that should be operational in late 2011 or early 2012. The new terminal will be used to export agricultural products to Asian destinations. In addition to agricultural enterprises, the Noble Group also holds a 30% stake in an iron ore mine in northeastern Brazil.