May 4, 2022

Brazilian meat, soy, and wheat exports to Arab nations on the rise

Brazilian exports of meat, soy, wheat, and other commodities to 22 countries in the League of Arab Nations increased in the first quarter of 2022, during a time of soaring agricultural commodities prices and rising demand to stock up on food, Reuters reported.

The Arab-Brazil Chamber of Commerce said total shipments from Brazil to the Arab nations was US$3.86 billion in tbat period, 34% year-on-year.

Increased exports from Brazil also indicate Russia and Ukraine's declining shipments in the global grains and fertilizer trade due to the conflict there.

Brazilian chicken meat exports increased near 11% to US$591 million. Soy exports were 122.8% up to US$318 million, while shipments of wheat rose 438.06% at US$285.86 million.

The data also showed corn exports were 27.21% up and frozen beef sales 165.73% higher.

The chamber was concerned that Brazil's 2022/2023 grain crop could be affected by low fertilizer imports from Russia and Belarus.

-      Reuters