Brazilian agribusiness exports surpass USD 153 billion in 2024

From January to November 2024, Brazilian agribusiness exports reached an impressive USD 152.63 billion, accounting for 48.9% of the country’s total exports during this period. A 5.2% drop in international price indices was partially offset by a 5.2% increase in export volumes. 

The top-performing sectors were the soybean complex (USD 52.19 billion), meats (USD 23.93 billion), and the sugar-energy complex (USD 18.27 billion), which together comprised over 60% of total exports. Despite an 18.7% decline in the soybean complex, it remained a key sector, while meats and sugar experienced significant growth, bolstered by record-breaking shipments and market diversification. 

Soluble coffee stood out among exported products, with USD 792 million in accumulated exports during the period. Another highlight was orange essential oil, which surpassed USD 365 million in exports by November 2024. These results underscore Brazilian agribusiness's growing capacity to deliver high-value-added products to increasingly diverse global markets. 
 

November Results 

In November 2024, agribusiness exports totaled USD 12.66 billion, representing 45.2% of Brazil’s total exports for the month. While this reflected a 5.8% decline compared to November 2023, sectors like meats, coffee, and forestry products posted strong performances, partially offsetting reductions in grain exports. 

The meat sector set a historic record for November, with exports reaching USD 2.45 billion (+30.2%). Beef led with USD 1.23 billion (+29.9%), followed by poultry (USD 876.92 million, +31.8%) and pork (USD 289.40 million, +30.8%). This growth was driven by increased export volumes and higher average prices. 

Coffee exports also broke records, totaling USD 1.47 billion (+84.4%), fueled by a 21.8% rise in export volumes and a 51.4% increase in international prices. The European Union, the United States, and Mexico were the primary destinations for Brazilian green coffee. Forestry products, meanwhile, grew by 29.1%, totaling USD 1.51 billion, led by pulp exports at USD 877.34 million. 

Conversely, the soybean complex saw a 50.3% decline, with exports totaling USD 1.86 billion, attributed to crop failures and reduced inventories. Corn exports also fell, reaching USD 967.89 million (-41.7%) due to a 36.2% decrease in shipped quantities. 
 

Imports on the Rise 

Agricultural imports totaled USD 1.54 billion in November 2024, up 14.4% from the same period in 2023. Major imported products included wheat (USD 102.16 million; +21.2%) and salmon (USD 76.05 million; +14.1%). 
 

Future Expectations 

Secretary of Trade and International Relations Luís Rua highlighted the growing impact of market and product diversification on Brazil’s trade balance. “Exports of less traditional products increased by 7.2% compared to the same period last year. With promising crop forecasts for 2025, continued new market openings, the maturation of existing opportunities, and enhanced trade promotion supported by innovative tools, we anticipate further qualitative and quantitative growth in Brazilian agribusiness exports,” he stated. 


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