December 14, 2009

Brazil's Jan-Nov agribusiness trade suffers drop

Brazilian agribusiness exports during January to November this year totalled US$59.773 billion, down 10.8% on-year.

Imports also declined by 19.3% to US$8.817 billion. The declines in both export and import resulted in a US$50.596 billion agribusiness trade surplus during the 11-month period, down from US$56.1 billion in the same period of 2008, according to figures from the Agriculture Ministry.

Brazil's agribusiness exports during November dropped by 3.9% year-on-year to US$4.9 billion, while imports shrank 0.5% to US$928.6 million. November agribusiness trade surplus was US$3.976 billion.

Dairy exports suffered the largest drop in November agribusiness volumes, to US$8.3 million from US$27.47 million.

The EU was the main destination for Brazil's agribusiness exports in November at US$1.474 billion. Asia was second at US$1.14 billion.