Eucatex CEO Flavio Maluf recently reported on the Brazilian agribusiness sector’s trade balance, according to figures released in June by the International Relations section of the Brazilian Agriculture ministry. The report showed a 0.7% drop compared to the figures for May. Brazil’s exports in June totaled $9.2 billion (USD), matching the previous year’s level for the same month. The country’s agricultural sector accounted for slightly more than 45% for export sales, according to the ministry. Imports for June 2018 added up to $1.04 billion, representing a 10.1% decline compared to June 2017. According to Flavio Maluf, Brazil showed a trade surplus of $8.7 billion within its agricultural industry, for a 0.7% increase. Read more about Flavio Maluf at Blog do Ronco
Soy made up a whopping 53.5% of Brazilian agribusiness exports for June, while flowers accounted for 14.4% of exports. Meats and sugar are likewise important products for the South American giants, at 8.3% and 7%. Finally, coffee, a Brazilian mainstay, rounded out the list of principal exports at just under 4%. Maluf added that Asian markets are currently the leading destinations for Brazilian products, with Asia as the major buyer of Brazilian exports in 2017 as well as in the first half of 2018. Soy and cellulose were the main exports to the Asian continent.
The EU is Brazil’s second most important trade bloc, and Europe is becoming an increasingly important trade partner, with major increases across the board. A key factor in this uptick has been an increase in the country’s soy harvest.
Flavio Maluf heads up Eucatex and Grandfood, which produces Golden and Premier Pet, Brazilian market leaders in the pet food sector. He is a graduate of Fundação Armando AlvaresPenteado and holds a degree in electrical engineering. He has a keen interest in the Brazilian agricultural market as well as global financial markets in general.