AGRICULTURE EXPORTS HIT A NEW RECORD IN 2023, INSPER SAYS

Brazilian agriculture exports hit a new nominal record in 2023, totaling USD 167 billion, up 5% from the previous year. This figure indicates an all-time high, despite the more sluggish rise in recent years. The result was mostly driven by the record grain harvest in the 2022-23 cycle, which topped 320 million tons. Despite a slope in agricultural commodity prices during 2023, the sector remained strong in comparison to previous cycles before events such as the pandemic and the Russia-Ukraine war.
Source: Insper Agro Global (*Translated by Ia Niani)