News brief: In line with the expected growth projections for the entire Latin American region, the Brazilian city-state’s agribusiness sector grew 6.4% in the first half of 2023 compared to the same period in 2022.

São Paulo’s agribusiness recorded successive monthly surpluses this year and the final result of the semester showed a surplus of US $ 10.04 billion, with a growth of 6.4% compared to the same period in 2022. This was pointed out by the survey of researchers from the Institute of Agricultural Economics (IEA-APTA), of the State Secretariat of Agriculture and Supply.

Exports grew 6.1% in the first half of this year compared to the same period last year, reaching US$12.63 billion. The main buyer countries of São Paulo products were: China with 26% of the total, especially soybeans and meat; European Union (juices, sugar and coffee) and United States (juices and meat). Imports increased 5.3%, totaling US$ 2.59 billion.

The share of agribusiness in the total exported by the State was 38.1%, while that of imports was 7.2%.

In relation to Brazilian agribusiness, São Paulo’s foreign trade accounted for 15.3% in the year, up 0.3 percentage points (p.p.) compared to the same period in 2022. Imports increased by 0.8 p.p., from 30.3% to 31.1%.

São Paulo stood out in the product groups, whose share in values exceeds 50% of the national total: juices (85.1%), various food products (73.6%), other products of plant origin (65.2%), sugar-alcohol complex (61.8%) and live plants and floriculture products (58.7%).

Exports

The top five groups in São Paulo agribusiness exports in the first six months of 2023 were:

– sugar and ethanol complex, with US$ 3.67 billion, and highlighting sugar;

– soybean complex, with US$ 2.51 billion, and emphasis on soybeans;

– meat sector, with US$ 1.51 billion, and beef standing out;

– forestry products, with US$ 1.31 billion, and highlighting pulp and paper;

– juice group, with US$ 964.37 million, and highlighting orange juice.

With regard to export values, 2023 recorded large variations compared to 2022. The largest increases were in the sugar-alcohol complex (+22.6%), juices (+18.3%) and forest products (+2.4%). According to the study, variations in foreign trade revenues are derived from fluctuations in both prices and volumes exported.

Imports

The main products on the São Paulo agribusiness import list in the first half of 2023 were: salmon (USD 195.73 million), paper (USD 195.1 million) and wheat (USD 182.81 million).

Source: agricolasnoticias.com.br