Apr 16, 2024 (MENAFN via COMTEX) --
(MENAFN - Brazil-Arab News Agency (ANBA)) SaÌ?o Paulo - Exports from Brazil to Arab countries climbed 28.7% in the first quarter compared to the same period last year, according to federal government data compiled by the Arab-Brazilian Chamber of Commerce (ABCC). The increase in sugar purchased by the region drove up the results, but the Arabs also imported higher volumes of other commodities from Brazil like iron ore , thus driving up revenue.
Brazilians posted a revenue of USD 5.67 million from sales to the Arab market between January and March compared to USD 4.41 billion in the same period last year. Out of the top 15 products shipped, the highest increases were in cattle sales by 147.7%, sugar by 105.4%, and beef by 84.4%. Up by 43%, iron ore was the second leading export, only behind sugar.
Sugar being shipped at the Port of ParanaguaÌ: Commodity is the top-selling product from Brazil to the Arab countriesABCC Market Intelligence Manager Marcus ViniÌcius says the growth in exports from Brazil to the Arab countries is associated with the performance of commodities. He explains that in the case of sugar Brazil exported a 73% higher volume to the Arab market, which coupled with the 19% rise in its price, explains the increased revenue.
According to ViniÌcius, a decline in the output of competitors like India, Thailand, and the European Union helped drive up Brazilian sugar shipments to USD 1.8 billion . He believes the Arabs sought out other countries to meet its demand, and Brazil is a traditional supplier. The manager pointed out that Brazil harvested a record high sugarcane crop in early 2024.
Read more: Nearly a quarter of Brazil's sugar exports go to Arabs
Brazilian iron ore exports to Arabs added up to USD 924 million in Jan-Mar. According to ViniÌcius, some ten years ago, Brazil's Vale was one of the only iron ore exporters from Brazil to the Arab world as it supplied its operation in Oman. However, supplying companies of iron are more diversified now, and so are its destinations, which now include countries like Egypt, Algeria, Libya, the United Arab Emirates, and Saudi Arabia.
Read more: Iron ore prices could impact exports to Arabs
Despite the prevalence of commodities, the ABCC's manager underscores other industries whose exports are growing. This is the case of cosmetics. Brazil posted a revenue of USD 7 million from cosmetics exports to the Arab countries in Q1, up 24% from a year earlier, with hair products being a highlight. He says other items in perfumery and toiletries posted increases, too.
Imports from Arab countries Brazilian imports from Arab countries declined by 15.5% to USD 2.33 billion in Jan-Mar this year compared to USD 2.76 billion in Q1 2023. Arab mineral fuel sales to Brazil declined by 6.4% to USD 1.5 billion, and fertilizer sales by 41.7% to USD 423.7 million. Fuels are the top export from the Arabs to Brazil, followed by fertilizers. The two of them fell both in value and volume.
Translated by Guilherme Miranda
Claudio Neves/Ports of ParanaÌClaudio Neves/Ports of ParanaÌ
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COMTEX_450919041/2604/2024-04-16T08:08:21
