Agribusiness exports from Brazil were valued at US$ 79 billion in the first half of this year, an increase of around 30% compared to the same period in 2021. According to projections released by Insper Agro Global, if the growth pace remains steady in H2, exports could reach US$ 140 billion and set a new record. The main factor that drove the value of exports upward was the increase in international prices, a movement that stemmed from the war between Russia and Ukraine, which led to food supply restrictions and restrictive export policies. The value of Brazilian exports of soybean oil and bran grew by 136% and 48% in the first half of 2022. The corn market registered an increase of 147% and the wheat market of 525%, also influenced by the current global situation. The value of Brazilian imports of fertilizers increased 177% in the first half of 2022 year-on-year. The value of agribusiness exports from Brazil to the European Union grew by 42%; 198% for India; 41% for Japan; 54% for Argentina; and 59% for countries in the Middle East and North Africa region.
Sources: BroadCast Agro/Datamar News