Agribusiness exports should make a record USD 160 billion this year, something that wasn’t fathomable a few years ago. This value represented an increase of 32% compared to 2021, when the numbers had already surprised the industry. On the other hand, imports had never been so costly. Pressured by growing purchases and high international prices, purchases of agricultural inputs will reach USD 50 billion, up 51% YoY. Such high export revenues began with the effects of the pandemic when countries increased their food stocks in anticipation of a disruption in the food supply. Because of the importance of both countries in the supply of grains to the international market, Russia’s war with Ukraine boosted demand, causing commodity prices to rise again.
Sources: Compre Rural/Datamar News