March 23, 2012

Brazil's February soy exports up 11.8%

 

Brazil's Agriculture Ministry said Wednesday (Mar 21) that the country's agricultural sector posted trade surplus of US$4.7 billion in February 2012, from US$5.9 billion in exports - 11.8% more than a year before - and US$1.3 billion in imports.

The agricultural sector that contributed the most to February's result was the soy complex (beans, meal and oil), whose exports rose from US$517 million to US$1.2 million compared to February 2011 and accounted for 20% of total agricultural exports.

The other sectors that posted good results in February were meat (US$1 billion), sugar and ethanol complex (US$865 million), forest products (US$746 million) and coffee (US$584 million).Together with soy complex these four segments accounted for 75% of last month's agricultural exports.

Brazil's biggest agricultural buyers in February 2012 were Asia (US$1.560 billion), the EU (US$1.797 billion) and Africa (US$695 million). China saw the sharpest increase in purchases, of 171.5% against February 2011, and accounted for 11% of Brazil's total agricultural exports last month.