Agribusiness exports in October 2022 were record for the month, reaching US$ 14.25 billion.

The value was 61.3% higher compared to what was sold abroad in October 2021.

Exports rose mainly due to the increase in the volume exported between periods, which increased by 38.9%.

The price index of exported products also rose, with an increase of 16.1% in the period.

The growth of corn shipments was one of the main factors for the strong increase in exports, with an increase in volume of 301.7% in the period.

In the first ten months of the year, the total volume of exported grains reached 134 million tons, or equivalent to almost half of the Brazilian grain harvest, which was estimated by Conab at 270.9 million tons (2021/2022 crop).

In the year, between January and October 2022, Brazilian agribusiness exports reached a record us$ 136.10 billion, which represented an increase of 33% compared to us$ 102.35 billion exported in the same period in 2021.

The sector represented 48.5% of total foreign sales in Brazil in the period.

Imports of agricultural products totaled US$ 1.43 billion in October 2022, 2% higher than in the same month of the previous year.

Sectors

In October, the soybean complex, which is the main export sector of Brazilian agribusiness, exported US$ 3.68 billion (+49.6%), increasing the volume exported (+27.6%) and international prices of the sector's products (+17.2%).

The main export product of the sector was soybeans in grains, with a record record for the months of October of US$ 2.49 billion.

Foreign meat sales reached US$ 2.28 billion (+50.8%). The amount was strongly influenced by average export prices, which rose 29.9% in comparison between October 2022 and October 2021. There was also an expansion in the volume sold, which rose 16.1%.

The cereals, flour and preparations sector had an absolute increase of US$ 1.75 billion in foreign sales, reaching us$ 2.20 billion. The cereal responsible for this increase was corn, which had a record volume exported of 7.2 million tons for the month of October, or an amount 5.4 million tons higher than the volume exported in October 2021.

In the sugar-alcohol complex, foreign sales rose 90.0%, from $927.54 million to $1.76 billion between October 2021 and October 2022. Sugar sales were US$ 1.50 billion (+81.1%), due to the strong increase in exported volume. The forest products sector totaled exports of US$ 1.45 billion (+20.7%).

The five sectors analyzed above accounted for 79.9% of the total value exported by Brazil in agribusiness products.

Export destinations

Asia is the geographic region with the highest participation in exports of Brazilian agribusiness. In October 2022, the continent acquired US$ 6.83 billion in Brazilian agribusiness products, which meant a growth of 71.0% compared to the US$ 3.99 billion exported in October 2021. China is the largest trading partner of Brazilian agribusiness, and in October sales to the Asian country grew 81.8%, reaching US$ 4.06 billion.

Asia and the European Union accounted for 64.2% of the total value exported by Brazil in agribusiness products in October.

Source: Canal Rural