Brazil’s Agribusiness Triumph: Opening Six New Markets in 2023 Boosts Exports and Economic Growth

The Brazilian Federal Government is celebrating the opening of six new markets for the country’s agribusiness in 2023, with two markets in Colombia and four in Japan. The announcement was made by Roberto Perosa, the Secretary of Commerce and International Relations at the Ministry of Agriculture and Livestock, during a press event on Tuesday, November 28, at Mapa.

In Colombia, markets have been opened for fishmeal and fish oil intended for animal feed from Brazil. The phytosanitary certification was submitted on Monday, November 27, to the Ministry of Agriculture and Livestock (Mapa) by the Colombian Agricultural Institute (ICA).

Colombia is the third-largest market for animal-origin fishmeal exported by Brazil. According to the National Administrative Department of Statistics of Colombia (DANE), it is estimated that in 2023, 67% of Colombian households have at least one pet.

Brazil is the main exporter of fishmeal and fish oil to Colombia, reaching 60% of the “pet food” segment in the country. It is estimated that this year, spending on pet food, toys, and clothing in Colombia will reach $5 billion.

As for Japan, the openings relate to canned beef and pork, as well as extracts of beef and pork. This market had been suspended by the Japanese for eight years. With these openings, the expectation is for a gradual full resumption of exports by 2024.

According to Secretary Roberto Perosa, these new markets not only mean income and employment but also improved quality of life and enhancement of the Human Development Index (HDI) for the population.

“With these new market openings, we are empowering Brazil for a revolution in the field. Over the next ten years, the federal government aims to encourage producers to produce even more, resulting in more jobs, income, and an increase in the contribution of agribusiness to the national Gross Domestic Product (GDP),” he emphasized.

These results are the result of the joint efforts of the Ministry of Agriculture and Livestock (Mapa) and the Ministry of Foreign Affairs (MRE).

In total, since the beginning of 2023, Brazilian agribusiness products, with a diverse export agenda, have already gained access to 71 markets in the Americas, Asia, Africa, Oceania, and Europe.

Brazil in international trade

Brazil’s agribusiness exports, between January and October of this year, totaled $139.58 billion, a record figure for the first ten months of the year. This represents a 3.0% increase compared to the same period in 2022.

The sectors that contributed the most to the growth in Brazilian agribusiness exports were the soy complex (+$4.37 billion), the sugar and alcohol complex (+$3.03 billion), and cereals, flours, and preparations (+$1.82 billion).

Asia was the main destination for Brazilian agribusiness between January and October 2023, with $74.60 billion, followed by the European Union, with a total of $18.43 billion.

China remains prominent among the countries receiving Brazilian agribusiness products, with $51.10 billion in exports.