In 2018, the total output of Brazilian coffee reached an all-time high of nearly 60 million bags.
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Brazil exported nearly 84 million tons of soybeans (3441, 0.00, 0.005%) in 2018, an all-time high, according to data from the Brazilian Foreign Trade Secretariat on the 2nd. In addition, coffee exports rose sharply, while sugar and corn (1863,-3.00,-0.16%) exports declined.
According to the data, total soybean exports in 2018 were 83.8 million tons, an increase of 23.1% over the same period last year. Of these, 12.35 million tons were exported in May, accounting for 15% of the total export volume for the whole year, setting a monthly export record. Analysts believe that the growth of demand in the Chinese market has contributed to a sharp rise in Brazilian soybean exports. At the same time, Brazilian soybean production reached an all-time high of 120 million tons in 2018.
As the world's largest coffee exporter, Brazil's coffee exports in 2018 also surged 10.7% year-on-year to 30.4 million bags. Among them, the export volume in December was 4 million bags, setting a monthly export record for the whole year. Due to the bumper harvest of Brazil's main coffee variety, Acarabi, the total output of coffee reached a record 60 million bags.
In contrast to soybeans and coffee, Brazilian corn exports fell 18.3 per cent year-on-year to 23.9 million tons in 2018. The decline in corn exports has been affected by reduced harvests and by the minimum road freight policy approved by former Brazilian President Temer.
Total Brazilian sugar exports also declined in 2018, by 21.5% to 18.3 million tons compared with the same period last year. Due to the high profits of biofuels, producers tend to give priority to ethanol production. Brazil's ethanol exports rose 20% in 2018 to 1.7 billion litres, according to the Brazilian Foreign Trade Secretariat.
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