Jul 21, 2015
Agriculture is 46% of Brazil's Exports during first Semester of 2015
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
During the first half of 2015, agricultural exports accounted for 46% of Brazil's exports. According to the Agriculture and Livestock Confederation of Brazil (CAN), this is the highest percentage for agricultural exports in six years. During the first six months of 2015, Brazil exported US$ 43.3 billion in agricultural products and imported US$ 7.1 billion resulting in a surplus of US$ 36.2 billion.
Seven of the ten principal exports from Brazil during the first semester of 2015 were agricultural products. Soybeans led the way in exports with US$ 12.5 billion in sales. The volume of soybean exports increased 1.2% compared to the same period last year, but the total receipts were down 22% due to lower soybean prices. The second leading export was soybean meal followed by poultry products and coffee.
Brazil is expected to export a lot of corn as well in 2015, but most corn exports occur during the second half of the year. During the first semester, Brazilian ports are focused on soybean exports and Brazil does not export much corn at all during the first semester. Corn exports pick up during the second half of the year as soybean exports start to fall.