In 2022 Russia increased agro-exports to Brazil by 2.5 times

In 2022 Russia increased agro-exports to Brazil by 2.5 times

Russia delivered $128 million worth of agricultural products to Brazil in 2022, 2.5 times more than in 2021. Due to such dynamics, the Latin American country was included in the top 50 buyers of Russian food list.

The growth occurred mainly due to increased supply of wheat. Last year the shipment of grain amounted to 362 thousand tons worth 112 million dollars, while a year earlier -only 28 thousand tons. Russia began supplying wheat to Brazil in 2018 after an eight-year break and last year became the 4th supplier of grain to the Federal Republic.

Russia has been exporting malt to Brazil since 2019, with shipments reaching a record high of more than 72,000 tons in 2021. In 2022, Russia exported 20,000 tons of malt to Brazil worth $8.8 million, but despite the decline, the country retained the 2nd place among buyers of the Russian product in physical terms.

Brazil is also a significant importer of yeast from Russia. In 2022, shipments amounted to 1.7 thousand tons (-5.5% to 2021) worth $4.5 million (+17%). In addition, Russia supplies the Latin American country with wheat gluten, potato flakes, fish products, confectionery, tobacco and a number of other products.

Brazil is among the world’s leading producers and exporters of agricultural products. Historically, agriculture has been one of the key sectors of the country’s economy. Since the mid-2000s, Brazil began to actively transform itself from an exporter of mainly tropical crop products, such as coffee, sugar, citrus fruits and cocoa, into a major global supplier of commodities, including soybeans, corn, cotton and meat.

Brazil is the world’s largest net exporter of agricultural and food products, and ranks third by export value. According to the ITC Trade Map, Brazil exported $135 billion worth of agribusiness products in 2022, the most significant categories being soybeans ($47 billion), corn ($12 billion), beef ($12 billion), sugar ($11 billion) and soybean meal ($10 billion).

Brazil’s agribusiness imports rose to $14 billion in 2022. Leading imports were wheat ($2 billion), fresh or chilled fish ($747 million), malt ($739 million), corn ($613 million) and olive oil ($540 million).

Comment of the Russian trade representative in Brazil Victor Sheremetker: “There are quite a lot of directions for the development of export of agro-industrial complex products to Brazil. First of all, these are the markets where our entrepreneurs have found their niche, which needs to be expanded. Here we can mention Russian alcoholic beverages and fish, especially cod, which is a traditional dish in Brazil.”