Jan 30, 2020

Agricultural Products Represented 43.2% of Brazil's Exports in 2019

Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.

In 2019, Brazil exported US$ 96.8 billion of agricultural products, which represented 43.2% of all of Brazil's exports according to the Ministry of Agriculture. This was a slight increase from 2018 when agricultural exports represented 42.3% of Brazil's exports.

The exported products of note were corn, meats, and cotton. Corn exports in 2019 set a record at 43.2 million tons. The prior record was set in 2017 when Brazil exported 29.2 million tons of corn. Brazilian corn production also set a record in 2018/19 at 100 million tons generating a 20 million ton increase in corn exports from 2018 to 2019.

Brazilian soybean exports declined 10 million tons in 2019 due to reduced production in 2018/19, but the decline in soybean exports was compensated for by increased exports of corn, meat, and cotton.

The value of Brazil's meat exports in 2019 increased by 12.5% to US$ 6.5 billion compared to US$ 14.6 billion in 2018. The African swine fever outbreak in China and other countries helped to propel the increase in meat exports.

Beef was Brazil's principal meat export in 2019 at 1.8 million tons with a value of US$ 7.5 billion. This represented an increase of 15.6% from the previous year and both exports and the value of the beef exports set record highs in 2019. China was the number one importer of Brazilian beef in 2019 accounting for 26.8% of the total surpassing Hong Kong with 18.6% of the total.

The value of Brazil's cotton and textile exports increased 56.5% in 2019 to US$ 2.64 billion compared to US$ 1.69 billion in 2018. In 2019, Brazil became the world's second largest cotton exporter after the United States.