June 8, 2007

Soy, meat escalates Brazil's May agriculture exports by 33.7 percent to US$5.2 billion

Brazilian agriculture exports in May hit a record of US$5.2 billion (3.85 billion euros) in May 2007, up 33.7 percent year-on-year due to the rise of meat and soybean segments, data of Brazil's Agriculture Ministry showed.

The month's performance is also Brazil's second-best since 1989, following closely the July 2006 agricultural exports of US$5.236 billion (3.876 billion euros).

Meat dominated the exports whose revenue exceeded US$1.0 billion (740.3 million euro) in a single month for the first time. Brazilian meat exports totalled US$1.294 billion (958 million euro), up from US$900.5 million (666.7 million euro). Soy products were also a main contributor whose exports grew by 18.5 percent to US$824 million (610 million euro). Soy bran exports totalled US$293 million (217 million euro), up 104.7 percent. In turn, exports of soy oil surged 186.3 percent.

Brazil's agriculture sector imports grew by 40.9 percent to US$698 million (516.8 million euro) as the sector's trade surplus stood at US$4.497 billion (3.329 billion euro).