Brazilian agribusiness exports had the best March since the beginning of the historical series analyzed by the Ministry of Agriculture, which started in 1997. According to data released by the entity last Friday, the country shipped US$11.57 billion last month, an amount 28.6% higher than in March 2020. The increase in commodity prices was an influential factor, says the ministry – prices rose 8.7% in comparison with March 2020. Volumes shipped however grew 18.3%. The soy complex (grain, oil and bran) was the most prominent sector, with an increase of US$1.66 billion in absolute exports. Also according to the government, the sugar and alcohol segment saw the highest percentage growth rate among the main exporting sectors (up 59.4%). The volume of sugar exported reached a record of almost 2 million tons in March 2021 (up 39.6%). This volume record, together with the 9% increase in the average price, generated US$ 638.96 million in revenues. Finally, agribusiness imports also increased, from US$1.28 billion in March 2020 to US$1.34 billion, which represents an increase of 4.5%.
Source: Datamar News