October 13, 2008

    

Brazil's agricultural exports elevated by 29.2 percent

   
  

Brazil's agricultural exports reached US$55.3 billion between January and September, 29.2 percent more than a year before (US$43 billion), the National Confederation of Agriculture (CNA) informed Friday, 10 October 2008.

 

Despite a recent drop in agricultural commodity prices, Brazoç's soy exports rose by 71 percent in the first nine months of 2008, to over US$15 billion. The increase is due to the fact that international soy prices were too high in the first half. In January, a bag of soy reached US$17, US$7 more than a few days ago.

 

According to CNA, Brazil's meat exports have started to recover following a drop in the first half caused by an European Union ban. Although export volume over January to September was lower than a year before, the export revenue rose 25 percent, to US$4.1 billion.

 

Ethanol exports also contributed to the good result posted by the agricultural sector in the period, after a 51.6 percent rise against a year before, to US$5.5 billion. The US was one of Brazil's main buyers.

 

Meanwhile, milk and dairy exports grew by 160 percent in the period.

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