Brazil’s agribusiness exports reached a nominal record of $ 101.7 billion in 2018, up 5.9 percent from 2017, the Agriculture Ministry said Friday, highlighting China’s appetite for domestic products.
The previous annual record occurred in 2013 when the country exported 99.9 billion dollars. Brazil is the largest global exporter of items such as sugar, coffee, orange juice, and soybeans.
According to the Ministry of Commerce and International Affairs, exports to China increased by $ 9 billion last year as the Asian giant turned to Brazilian soybeans, given the trade war between Beijing and Washington.
In the soybean complex, grain was the main exported product, with a record volume of 83.6 million tons in 2018. According to the secretariat’s bulletin, “the increase in the quantity exported would not occur without strong Chinese demand.”
On the other hand, the beef trade in natura reached a record volume in the historical series started in 1997. Last year, 1.35 million tons (+12.2 percent) were exported, of which 322.3 thousand tons were exported to China.
Cellulose also performed well in 2018, thanks to China’s demand, the ministry’s ministry said.