Brazil Agribusiness Exports Hit April Record at $16.65 Billion on Soybean Surge

Overview

• Brazilian farm exports reached a record $16.654 billion in April, up 11.7% year over year, as shipped volumes rose 9.5% and average prices increased 2.1%.
• Soybeans led with $6.97 billion, or 41.8% of the total, after a record harvest outlook boosted supply and pushed grain shipments to a monthly volume high.
• China was the top buyer at $6.59 billion, equal to 40% of sector sales, with soybeans making up 73% of Brazil’s farm exports to the country.
• Other products also set April records, including beef, cotton, pork, live cattle, and soluble coffee, while soybean meal hit a volume record and cellulose reached its highest export value.
• From January to April, exports totaled a record $54.594 billion and the sector’s trade surplus rose to $47.959 billion, as agricultural imports declined year over year.