China stays the anchor market
China bought US$6.3 billion of Brazilian agribusiness goods in May, keeping its place as the sector’s top market. The figures show how strongly Chinese demand still drives Brazil’s farm trade, even as other markets also expanded.
China accounted for almost 40% of Brazil’s agribusiness export value in May, according to the Ministry of Agriculture and Livestock. That single market generated more than the combined value shipped to other major destinations, including the European Union and the United States.
The European Union ranked second with US$2.4 billion in imports, or 15% of sector exports. The United States placed third at US$837 million, even after cutting purchases by 28% year on year. Meanwhile, markets including Bangladesh, Thailand, Vietnam, Pakistan, Turkey and Jordan also increased imports.
For investors, the message is clear. Brazilian agribusiness exports remain highly exposed to Chinese buying patterns. However, the month also showed broader demand across Asia and Europe, which helps cushion concentration risk.
Soy and beef lead the gains
Soyabeans stayed the main export line. Brazil shipped US$6.3 billion of soyabeans in May, up 14.6% from a year earlier. Volumes rose 5.1% to 14.8 million tonnes. The wider soy complex, including beans, meal and oil, reached US$7.5 billion.
Beef also posted a strong month. Brazil exported US$1.7 billion of fresh beef in May, up 50.2% year on year. Shipments rose 20.2% to 262,000 tonnes. China bought US$1 billion of that total, equal to 61.4% of Brazil’s beef exports.
Poultry and pork added to the momentum. Fresh chicken exports reached US$883 million, while pork exports totalled US$278 million. Together, animal proteins generated US$3.2 billion in export revenue, up 38% from a year earlier.
DDG, the corn-ethanol by-product used in animal feed, is also gaining ground. Brazil exported US$130 million of DDG between January and May, up 37.7% year on year. China was the top buyer at US$63.2 million. The ministry said Brazil opened 21 new DDG markets since 2023.
Trade surplus widens
Agribusiness imports fell to US$1.6 billion in May, down 3.6% from a year earlier. That left the sector with a trade surplus of US$14.4 billion for the month, up 9.7%.
The January-to-May picture was also strong. Brazil agro exports reached US$70.5 billion in the first five months of the year, a record for the period and up 4.6% year on year. The sector also accounted for 50.2% of all Brazilian exports in May.
For markets, the next watchpoint is China’s appetite for soy and beef, alongside whether Europe and other Asian buyers keep broadening Brazil’s export base.
