January 12, 2012

Brazil's 2011 agribusiness exports hit record high due to soy exports to China, which at US$10.96 billion, accounted for 45.4% of the country's overall soy exports of US$24.14 billion.

The second biggest buyer of soy complex products was the EU, at US$6.92 billion and 15.76 million tonnes. Overall soy complex exports rose 41% between 2010 and 2011, to US$17.1 billion. The increase was mostly due to a 27.4% rise in average prices (from US$386 to US$492/tonne) and to a 10.8% increase in export volume (from 44.3 million tonnes to 49.07 million tonnes).

Soy accounted for 67.6% and 67.2% of last year's overall soy complex export revenue and volume, at US$16.31 billion and 32.97 million tonnes, respectively. The sum is also equivalent to 17.2% of Brazil's overall agribusiness exports in 2011.

Compared to 2010 soy export revenue rose 47.8% (from US$11.03 billion to US$16.31 billion), due to rises of 13.5% and 30.3% in volume and price. Soy meal and oil exports totalled US$5.69 billion and US$2.13 billion in 2011, respectively.

Brazil's overall agribusiness exports rose by US$18.152 billion in 2011 against 2010. The EU was the biggest buyer in 2011, followed by China, which bought 50% more than in 2010 (US$16.5 billion against US$11 billion).

The main agricultural products bought by the EU in 2011 were coffee (US$4.29 billion), soymeal (US$4.01 billion), soy (US$2.73 billion) and meat (US$2.48 billion). These products accounted for 57% of Brazilian agricultural exports to the EU in 2011.

Meanwhile, agricultural exports to China were mostly soy (US$10.96 billion), pulp (US$1.3 billion) and sugar (US$1.2 billion). These products accounted for 81.6% of total Brazilian agricultural exports to that country.

The sharpest growth in agricultural exports compared to 2010 was in China, of 30.3%, followed by the EU (18.3%), US (7.2%), Japan (6.3%), Algeria (3.5%) and Egypt (3.1%).The Middle East and Africa saw respective rises of 12% and 43.4%.

Despite a 0.4% decline in agricultural exports to Russia following a ban on Brazilian meat, Brazil's overall meat exports rose 14.7% in 2011 against 2010, from US$13.63 billion to US$15.64 billion. The increase was mostly due to a rise in sales to the EU (13.3%), Hong Kong (29.8%), Japan (45.8%), Saudi Arabia (28.4%) and Venezuela (57.7%), among others.