Brazilian agribusiness exports totaled $13.48 billion in November of this year, according to the Ministry of Agriculture. The figure represents an 8.27% increase compared to the same period last year and marked a monthly record. Year-to-date, exports reached $153.08 billion, showing a growth of 3.6% over the same period in 2022. The agribusiness sector now accounts for 49.3% of Brazilian exports during this period, 1.3 percentage points higher than the share recorded a year ago. The Ministry of Agriculture attributes the results to a 19.2% increase in shipped volume, as the average export prices in the sector declined by 6.9% in the last month. Factors contributing to the record include the bumper crop of grains harvested this year.
Sources: Globo Rural/Datamar News