The agribusiness industry in Brazil is on the rise, and last July 2018, the most recent reports about the country’s agribusiness performance were released. The report was presented by Flavio Maluf, Eucatex’s president and chief executive officer. According to the report, the country’s agribusiness exports reached $9.21 billion, roughly the same as its statistic in June 2017. The agribusiness imports, on the other hand, reached $1.04 billion. Visit Crunchbase.com to learn more
Brazil, being the fifth largest country on the planet in terms of land area, has a lot of spaces for agriculture. The country transformed the majority of its agricultural spaces into soy plantations. Soy production in Brazil accounted for 53.5% of the country’s exports. The country also produced other exports like forest products, which came in at 14.4%; meat and poultry, posting an 8.3% of the total exports; alcohol and sugar, accounting for 7% of the exports; and coffee, at 3.9%. The country’s partnership with BRICS, an international union of the largest economies on the planet, also provided an advantage for their exports. BRICS, which stands for Brazil, Russia, India, China, and South Africa, has been conducting trade partnerships with each other. Brazil exported their soy products to China, where it is most needed. The partnership between the two countries produced a good trading contract which benefited a lot of Chinese people who are using soy for their food production.
Brazil is also a trading partner of the European Union, and they have exported some of their agricultural products to the continent. The European Union is the second largest trading partner of Brazil, after China. The agribusiness sector of the South American country is helping other states around the world secure their food supply, and thanks to the large agricultural areas of Brazil, food production and food security can be attained. Flavio Maluf also added that the government of Brazil is serious about their campaign of strengthening the agribusiness industry, because it holds the future to the country’s development. The Brazilian government is encouraging farmers around the country to use different strategies on how they can produce more agricultural products, and at the same time, earn more from their plantations.