Brazilian agricultural exports grow by almost 5%

Brazil's agricultural food exports increased by almost 5% on an annual basis in January-November 2020 and for the first time since 2013 reached a level of 93.6 billion dollars, according to AFP. The agency cites data from the economy ministry of the largest South American country, which is about to publish the final data on the trade balance for 2020. The agro-industrial sector has provided half of total Brazilian exports compared to 43% in 2019. China is Brazil's main customer for agricultural goods and accounts for a third of Latin America's exports. Beijing slightly increased soybean purchases and received 73% of Brazil's oilseeds sales. Total sales of grain, which has a leading position in Brazilian exports, increased by 9.5% in value terms and by 12 percent in volume. Despite record production, however, the South American giant has exhausted soybeans for domestic consumption. As a result, Brazil had to import 80,000 tonnes of raw material last year, or six times more than in ...