Brazil’s agribusiness exports to Egypt surged by 91.4% to USD 3.3 billion in 2024. Overall, Brazilian agribusiness exports totaled USD 164.4 billion with a slight decline of 1.3%. The main growth in Egyptian imports was in corn, raw cane sugar, soybeans, and unprocessed tobacco, with Brazil expected to benefit from a record grain harvest this year.

The Brazilian agribusiness sector has marked a notable surge in its exports to Egypt, reaching a total of USD 3.3 billion in the previous year, which reflects a substantial increase of 91.4% compared to 2023, as reported by the Ministry of Agriculture and Livestock. Overall, Brazil’s agribusiness exports amounted to USD 164.4 billion in 2024, indicating a slight decline of 1.3% from the previous year, yet representing the second-highest performance in the nation’s export history. The decrease in overall agribusiness exports was attributed to the diminished value of major agricultural goods such as soybeans, corn, sugar, beef, cotton, chicken, and pork. The report states that the most significant growth in exports to Egypt was observed in corn, raw cane sugar, soybeans, and unprocessed tobacco, with Egypt constituting 2% of Brazil’s total agribusiness exports.

Brazil’s top destination for agribusiness exports, however, remains China, accounting for 30% of the sector’s sales. The United States and the Netherlands follow as the second and third largest importers. Notably, within the Arab world, the United Arab Emirates emerged as a significant market, importing USD 3.4 billion worth of Brazilian agricultural and livestock products, marking a 46% increase from 2023. This growth was driven mainly by imports of raw cane sugar and beef. Sales to the Middle East reached USD 13.9 billion, demonstrating a remarkable increase of 20.4%, while exports to Africa rose by 24.4% to USD 12.5 billion.

The Ministry of Agriculture anticipates a record grain harvest in Brazil for the current year, which may further boost agribusiness exports. The leading commodities exported include soybeans, sugar, beef, coffee, pulp, soybean meal, chicken, corn, cotton, and orange juice. Despite a 7.2% decline in the monetary value of fertilizer imports, volume purchases increased by 8.2% year-on-year, totaling USD 13.6 billion. The agribusiness sector plays an essential role in Brazil’s economy, now representing 49% of the nation’s total exports.

The focus of this article revolves around the impressive growth of Brazilian agribusiness exports, specifically to Egypt. This increase is contextualized within Brazil’s broader export performance for 2024, which, despite a slight decrease overall, saw significant rises in specific markets such as the Middle East and Africa. The importance of exports like soybeans and sugar underscores Brazil’s prominence in the global agricultural sector. The Ministry of Agriculture and Livestock’s insights provide valuable data regarding the dynamics of trade and expected growth trends in Brazilian agriculture.

In summary, Brazil has achieved a remarkable increase in agribusiness exports to Egypt, with significant contributions from various agricultural products. While the overall sector saw a minor dip in exports, targeted markets like Egypt and the UAE showcased substantial growth. The promise of a record harvest positions Brazil for further successes in global agribusiness in the coming years, affirming the sector’s crucial role in the national economy.

Original Source: anba.com.br

Related posts:

Bangladesh Explores Pakistan as Alternative Supplier for Onion and Potato Imports Brazil Gains Access to China for Table Grapes After New Protocol Agreement Emirates Expands Flights to Madagascar and Seychelles for Holiday Season India’s Trade Deficit Reaches Record High of $37.84 Billion in November 2024