From January to November 2024, Brazilian agribusiness exports reached USD 152.63 billion, representing 48.9% of total Brazilian exports during this period. This marks the second-best performance ever recorded in the historical series. A 5.2% reduction in international price indices was partially offset by a 5.2% increase in export volume.
The main sectors driving this performance were the soybean complex (USD 52.19 billion), meats (USD 23.93 billion), and the sugar-alcohol complex (USD 18.27 billion), which together accounted for over 60% of the total exported. Despite an 18.7% reduction, the soybean complex maintained its leading position, while meats and sugar registered significant growth, driven by record shipments and market diversification.
Among exported products, soluble coffee stood out, with a total of USD 792 million during the period. Another noteworthy product was orange essential oil, with more than USD 365 million in exports by November 2024. These results demonstrate how Brazilian agribusiness continues to expand its horizons, offering the world a variety of high-value-added products and reaffirming its strength in increasingly diversified markets.
November Results
In November 2024, agribusiness exports totaled USD 12.66 billion, accounting for 45.2% of Brazil’s total exports for the month. Despite a 5.8% decrease compared to November 2023, sectors such as meats, coffee, and forest products delivered significant results, partially offsetting declines in grain sales.
The meat sector was the main highlight of the month, with a record-breaking export figure for November, reaching USD 2.45 billion (+30.2%). Beef was the leading product, generating USD 1.23 billion (+29.9%), followed by chicken meat (USD 876.92 million, +31.8%) and pork (USD 289.40 million, +30.8%). This growth was driven by higher export volumes and increased average prices.
Coffee exports also hit a record high for November, with USD 1.47 billion (+84.4%), driven by a 21.8% increase in exported volume and a 51.4% rise in international prices. The European Union, the United States, and Mexico were the main destinations for Brazilian green coffee. Meanwhile, forest products grew by 29.1%, totaling USD 1.51 billion, led by cellulose, which generated USD 877.34 million in revenue.
On the other hand, the soybean complex experienced a 50.3% decline, with shipments totaling USD 1.86 billion due to crop failures and reduced stocks. Corn also saw a decrease, totaling USD 967.89 million (-41.7%) due to a 36.2% reduction in shipped quantities.
Rising Imports
Agricultural product imports totaled USD 1.54 billion in November 2024, a 14.4% increase compared to the same period of the previous year. Among the main imported items were wheat (USD 102.16 million; +21.2%) and salmon (USD 76.05 million; +14.1%).
Future Expectations
According to the Secretary of Trade and International Relations, Luís Rua, the results of market and product diversification are beginning to materialize in the trade balance. “Less traditional products in the export agenda increased by 7.2% compared to the same period last year. With promising crop prospects for 2025, the continued opening of new markets, the maturation of already established market entries, and the intensification of promotional actions using a range of new instruments, we anticipate even greater qualitative and quantitative advances in Brazilian agribusiness exports,” he stated.
