Agribusiness makes $6.55 bn surplus in March

Brazil's agricultural exports amounted to $7.97 billion in March, an increase of 3.7% compared to March 2013. Imports totaled $1.42 billion, ensuring an agribusiness surplus of $6.55 billion in March. Throughout the first quarter, the trade surplus was $15.97 billion. Despite the positive results, exports in agribusiness have declined 1.7% over the quarter, and so have imports, by 0.5%.

Soybean (oil, meal, and grain) has maintained its lead of top agricultural exports making $3.62 billion, 52.6% more than recorded in March 2013. The shipment amounts have outbalanced the commodity's price declines in the period, which hit 7.6% going from $554 to $512 a ton. The 7 million tons of soybean reported to have been shipped in March reflect an increase of 65.1% over one year ago.

Meat exports rank next with sales of $1.25 billion, 8.6% more than in March last year – despite an average devaluation of 9.5% in the global market. Shipments totaled 498,000 tons, 1% up on the levels recorded for same month in 2013.

On the import side, wheat has topped the ranking with $2.62 billion purchased, an increase of 11.9% compared to March 2013. Pulp ranked second with $1.83 billion worth of imports, 3% down from March last year. Finally, fisheries totaled $1.52 billion, 23.7% up on the previous year.

Translated by Mayra Borges