Brazilian agribusiness exports break record in July with USD 15.44 billion

In July 2024, Brazilian agribusiness exports totaled USD 15.44 billion, a new monthly record and the highest value exported this year. This performance reflects an 8.8% increase, compared with the USD 14.20 billion recorded in July 2023, confirming the sector's importance to the national economy.

Soy, meat, sugar-alcohol, forestry products and coffee contributed most to this significant result. Collectively, they accounted for 82.5% of agribusiness exports in July. China stood out as the largest market for Brazilian soybeans and other products, with a significant 19.2% increase in meat exports, especially beef and pork.

Beef exports performed particularly strongly in July, totaling USD 1.14 billion, a 34% increase over the same month last year. The volume exported was also a record, totaling 265,700 tons, a 43.9% increase over July 2023. China was the primary destination for Brazilian beef, accounting for more than half of total exports, followed by the United States, the United Arab Emirates and the Philippines.

“The agribusiness trade balance performed exceptionally in July –- the best result for this month in recent years – is a clear reflection of the dedication of the entire MAPA [Ministry of Agriculture, Livestock and Supply] team, under the leadership of Minister Carlos Fávaro. The strategy of expanding markets and strengthening diplomatic relations has allowed products such as soy, sugar and meat to reach historic figures. We will continue to focus on maintaining this growth trajectory, seeking new records and solidifying Brazil as a global leader in agribusiness,” said Roberto Perosa, secretary for Trade and International Relations at the Ministry of Agriculture and Livestock.

From January to July 2024, agribusiness exports reached an all-time high of USD 97.80 billion. The figure represents a 1% increase over the USD 96.87 billion exported during the first seven months of 2023. Products such as raw cane sugar and soybeans saw significant increases in shipment volume, contributing to the positive outcome.

TWELVE MONTHS ACCUMULATED (AUGUST 2023 TO JULY 2024) - Brazilian agribusiness exports reached USD 167.41 billion from August 2023 to July 2024, a 3.2% increase over the previous year's total of USD 162.24 billion. Agribusiness continues to play an important role in Brazil's trade balance, accounting for 49.3% of total exports by value from January to July 2024.

IMPORTS - Imports of agricultural products also registered significant growth in July 2024, rising by 25.4% to USD 1.74 billion, compared to the USD 1.39 billion imported in the same month of the previous year, setting a record. In addition to agricultural products, there was an increase in imports of agricultural inputs. Fertilizers, for example, grew by 22.5% and animal nutrition registered an increase of 12.4%, both considered essential for agricultural production.

Press information:
imprensa@agro.gov.br