Corn drives a 3.2% increase in agricultural exports and analysts estimate an annual record, points out USP of Piracicaba

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Sector totaled 126 billion dollars in the quarter. Cepea research from Esalq de Piracicaba shows that Brazilian exports of agricultural products continue to advance. Corn records highest volume of grain exports in the 1st semester PMBV Revenue from Brazilian exports of agricultural products totaled 126 billion dollars from January to September 2023. The mark represents growth of 3.2% compared to the same period last year, as shown by research from the Center for Advanced Studies in Applied Economics (Cepea), the Luiz de Queiroz College of Agriculture (Esalq), the USP campus in Piracicaba. “This is a record for the period”, observe experts from the institute. 📲 Receive news from the Piracicaba region on WhatsApp According to Cepea researchers, this result continues to be linked to the higher volume shipped – which increased by 14.7% –, as average prices in dollars fell by 10%. Corn, as in the last semester, is responsible for driving this increase, with the highest growth rate in external shipments, an increase of 40% in the volume shipped. See product rankings below in the report. The study is based on data from the Ministry of Development, Industry, Commerce and Services (MDIC), Secretariat of Foreign Trade – Siscomex system and indicates that the sector records good performance in 2023, and this year’s revenue could reach a new record. Expectation If the sector maintains the same performance as in the last quarter of 2022, revenue could exceed US$160 billion, which would be a new record. For this goal to be achieved, it is important that the Real does not appreciate too much against the US dollar over the next few months. Products Soybeans, in turn, remain the leader in the quantity exported. According to Cepea researchers, in addition to products from the soybean and corn complex, the year has been favorable to the sugar and alcohol sector and chicken and pork meat. China and the United States Cepea researchers indicate that the Chinese and North American economies have shown good growth rates this year, which has supported international demand. “On the supply side, Brazil presented record production, which supported the good volumes shipped. However, given the growth in production also in other relevant countries on the international scene, prices fell throughout the nine months of 2023”, conclude the Cepea researchers. READ MORE Soy, meat, coffee, orange juice: see the products in which Brazil is the leader in exports in the world Corn records the highest volume of grain exports in the 1st half of 2023, according to a USP study Grains: first half Corn was the product that recorded the highest growth rate in volume shipped, with 86%, according to research by the Center for Advanced Studies in Applied Economics (Cepea) on the USP campus in Piracicaba (SP). Studies indicate that Brazilian exports of agricultural products continued to advance in the first half of this year. Soybeans presented the largest volume exported, with 49% of the entire volume sold by Brazilian agribusiness and 40% of the value generated by revenue in dollars. According to Cepea researchers, the year has been very favorable for products from the soybean complex and the sugar-alcohol and forestry sectors. Studies show that the sector’s dollar revenue grew 4.5% in the first half of 2023, driven by the greater volume shipped, which increased by 14%. Average dollar prices fell just over 8%. Fall in prices Since 2022, food values ​​have shown a downward trend, as indicated by the United Nations (FAO) index. This reduction in average food and energy prices on the international market, according to researchers, is due to the slowdown in the growth rate of global demand in 2023, with emphasis on the problems faced by China more recently, and the increase in world production. For the second half of the year, the behavior of international commodity prices will depend on the size of the harvest in the Northern Hemisphere and the occurrence of unexpected events throughout the period. For the exchange rate, the expectation of financial market agents is that it will remain at around R$5/US$ in this second half of the year; however, the continued rise in interest rates in the North American market should attract more capital to that country, putting pressure on the value of the dollar around the world, including in Brazil. It is also possible that inflation in Brazil will increase in the coming months, but will close at around 4% year-to-date. Therefore, the combined effect of both on the sector’s profitability in reais should not result in major fluctuations in the coming months. VIDEOS: everything about Piracicaba and the region See more news from the region on g1 Piracicaba

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