Brazilian agribusiness exports reached a record high of $16 billion in March of this year. The products that stood out the most in terms of export value growth were soybeans (+$878.3 million), corn (+$397.8 million), soybean meal (+$330.5 million), raw cane sugar (+$215.2 million), and fresh chicken meat (+$214 million). In total, these products contributed $2 billion to the increase in exports, which was higher than the overall growth of $1.6 billion in total agribusiness exports. In March 2022, agribusiness exports totaled $14.4 billion. In the first quarter of the year, Brazilian agribusiness exports reached a record high of $36 billion, an increase of 6.7% compared to the same period last year. Thus, agribusiness accounted for 47.2% of Brazil’s export basket.
Sources: Money Times/Datamar News