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Brazilian agribusiness exports up 12.8%

Staff Writer |
Brazilian agribusiness exports to the Middle East reached $689.33 million in May, up 31.6% from a year ago, the Ministry of Agriculture, Livestock and Supply reported.

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Overall, industry exports amounted to $9.68 billion, up 12.8%.

The list of top 20 importers of Brazilian agribusiness goods last month included two Arab countries: Saudi Arabia and the United Arab Emirates.

Saudi ranked 13th at $159 million worth of imports, down 20.5% from May 2016. The UAE placed 17th at $145.85 million worth of imports, up 146% from a year ago.

The Ministry said that when it came to overall exports, the top-selling item was soy beans, bran and oil, which accounted for 48.8% of total sales. Brazil’s agribusiness industry exported $4.72 billion worth of products in May, up 7.5% from May 2016.

Soybeans exports amounted to 10.96 million tons, a monthly all-time and exceeding the 10 million ton-mark for the second straight month.

Meats were the second best-selling item, but revenue dropped 4.1% year-on-year in May. Sugar and ethanol ranked third at $1.08 billion exported, up 49.2% from May 2016.

Year-to-date through May, agribusiness exports grossed $38.86 billion, up 5.9% from the year-ago period. Exports to the Middle East reached $3.41 billion, up 15.1%.

Saudi Arabia was the third leading buyer at $1.022 billion, up 123.3% from January to May 2016.

The UAE placed 17th at $521.3 million worth of imports, up 14%. Algeria was the 19th leading importer at $509 million, up 31.3%.

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