According to the latest statistics of Brazil's Ministry of Agriculture, driven by positive commodity markets such as soybeans, meat and green coffee (unroasted coffee beans), Brazil's agricultural trade surplus exceeded US$9.2 billion in February. The exports reached a record high of US$10.51 billion, up 65.8% over the same period last year; imports dropped 2.1% year-on-year to US$1.25 billion. In February, the average price and volume of Brazilian agricultural exports increased by 24% and 33.7% year-on-year respectively, increasing the share of agricultural products in Brazil's exports from 38.7% last year to 45.9% in the same month. As one of the main agri-trade products of Brazil, 6.27 million tonnes or US$3.1 billion worth of soybeans were exported in February, far exceeding the year-ago level of 2.6 million tonnes and US$1 billion after an increase of 137% and 203% respectively. China continued to be Brazil's largest soybean importer, with soybean exports to China reaching 4.3 million tonnes in February, up 130% year-on-year and accounting for around 69% of total exports. The export value arrived at US$2.17 billion, up 186.6% year-on-year, topping the single-month soybean trade chart between Brazil and China.
(Source: CCPIT/ China Trade News)
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