June 21, 2012

Brazilian agribusiness may cross US$100 billion export target

Brazilian agribusiness may cross the US$100 billion export target for 2012, an increase of 5.7% over 2011, according to the minister of Agriculture, Livestock and Food Supply, Mendes Ribeiro.

"Although we have been having market problems in Russia and Argentina, other markets are opening," said the minister, referring to the current trade barriers imposed by the government of Argentina on several products and to the Russian blockade on the exports of Brazilian pork and beef. China and Japan are among the countries with which Brazil plans to expand business in the pork and beef sectors.

Ribeiro participated in a seminar, Food Safety and Sustainability in Agribusiness, in the Humanity 2012 space, an event in the sidelines of the United Nations Conference on Sustainable Development (Rio+20), which is taking place at Copacabana Fort.

According to Brazil-Arab News Agency, figures disclosed by the Ministry of Agriculture show that Brazilian agribusiness exports have totalled around US$97 billion in the 12 months up to May. Last year, exports reached US$94 billion.