Business & Policy
Agribusiness exports reach record high in March
By Agrenco/Agencia Brazil
Growth in corn and rice exports boosted the numbers for Brazilian agribusiness for March 2008. Agencia Brasil reports a 6.4 percent year-on-year increase over 2007, including
(US)$4.776 billion in exports for March.
April 11, 2008
Brazilian agribusiness exports came to US$4.776 billion in March, posting a year-on-year increase of 6.4%. In a last-12-months basis, the amount is a record, totaling US$60.5 billion. Not taking into account the US$837 million of imports, the surplus in March was of US$3.939 billion.
In the first quarter, exported products have already generated US$13.9 billion in revenues, an increase of 17.8% as compared to the same period last year. Despite the decrease in some products’ revenues, the main ones enjoyed increases: meat, 15.5%; soybean 6.7%; and coffee, 14.8%, as a result of the increase in international prices, according to the ministry of agriculture.
Corn and rice were the highlights, in view of the accelerated growth in exports. As for the former, revenues increased by 154.2%; volume by 117.4% and prices by 16.9%. Regarding rice, an item that is traditionally imported by the country, sales earned US$12.8 million in the year, with an increase of 375.4% in volume and of 38% in prices.
Imports grew by 9.1% as compared to March last year, and 49.5% when compared to the first half of 2007. This year’s amount was US$3 billion, and the increases are due mainly to purchases of wheat, barley and paper.
The United States were the main destination for agribusiness exports, with US$450 million in March, followed by the Netherlands, with US$420 million – 13% up from last year.