February 15, 2011

Brazil's January agricultural export revenue hits highest since 1989

The agricultural exports of Brazil in January 2011 reached a total of US$5.1 billion, 26.3% more than January 2010's and the highest sum for that month since January 1989, the Agriculture Ministry said Friday (Feb 11).

Agricultural trade surplus rose US$800 million last month compared with January 2010, to US$3.9 billion. In the year ended January 2011, trade surplus stood at a record high US$77.5 billion.

The biggest increase in export volume and revenue in January was in soy complex, of 89.3%, to US$598.6 million, followed by coffee and fresh poultry.

Meat exports totaled US$1 billion, 20% more than in January 2010, mostly due to a rise of 51.4% in fresh poultry export revenue, to US$505 million, and of 28% in volume, to 268,000 tonnes.

Between February 2010 and January 2011 Brazilian agricultural exports grew 19.8% compared with over February 2009 to January 2010 (US$64.7 billion).The biggest contribution to this result came from sugar and ethanol (38.5%), forest products (29.5%) and meat (16.3%).

The sharpest increases in Brazilian exports were to China (94.3%), Algeria (126.7%), Morocco (108%), Egypt (83.6%), Russia (44.9%), Spain (84.3%), France (46.5%), Italy (42.2%) and Belgium (40.9%). In the year ended January 2011 exports to China rose 25.5%, to US$11.1 billion from US$8.8 billion. The country is Brazil's main agricultural products buyer, with a 14% share.