Brazilian agribusiness exports hit record high in July with $15.44 billion

In July 2024, Brazilian agribusiness exports reached $15.44 billion, setting a new monthly record and marking the highest export value of the year so far. This represents an 8.8% increase compared to the $14.20 billion recorded in July 2023, highlighting the sector’s crucial role in the national economy. 

Key contributors to this impressive result were the soy complex, meats, sugar-alcohol complex, forest products, and coffee, which together accounted for 82.5% of agribusiness exports in July. Notable highlights include a rise in soybean exports to China, Brazil’s largest soy market, and a 19.2% growth in meat exports, especially beef and pork 

Beef exports performed exceptionally well in July, reaching $1.14 billion—a 34.0% increase compared to the same month last year. Exported volume also set a new record, with 265,700 tons shipped, reflecting a 43.9% increase compared to July 2023. China was the primary destination for Brazilian beef, accounting for more than half of the exported volume, followed by the United States, United Arab Emirates, and the Philippines. 

"The exceptional performance of the agribusiness trade balance in July, the best result for this month in recent years, clearly reflects the dedication of the entire Ministry of Agriculture and Livestock (Mapa) team, under the leadership of Minister Carlos Fávaro. The strategy of opening more markets and strengthening diplomatic relations has allowed products like soy, sugar, and meats to achieve historic numbers. We will remain focused on maintaining this growth trajectory, aiming for new records and solidifying Brazil’s position as a global leader in agribusiness," said Roberto Perosa, Secretary of Trade and International Relations at Mapa. 

From January to July 2024, agribusiness exports totaled $97.80 billion, setting a historical record for this period. This represents a 1% increase compared to the $96.87 billion exported in the first seven months of 2023. Significant increases in shipments of products like raw cane sugar and soybeans contributed to this positive outcome. 

TWELVE-MONTH ACCUMULATED (AUGUST 2023 TO JULY 2024) 

Over the last 12 months, from August 2023 to July 2024, Brazilian agribusiness exports totaled $167.41 billion, a 3.2% increase compared to the $162.24 billion recorded in the previous 12 months. Agribusiness continues to play a vital role in Brazil's trade balance, accounting for 49.3% of total export value between January and July 2024. 

IMPORTS 

Agricultural imports also saw significant growth in July 2024, rising by 25.4% to reach $1.74 billion, compared to $1.39 billion in the same month last year, setting a new record in the historical series. In addition to agricultural products, imports of inputs for agribusiness also increased. Fertilizer imports grew by 22.5%, and animal nutrition imports saw a 12.4% increase, both essential for agricultural production. 


Press information
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