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Russia Brazil
10.09.23 10:30
Economics

Russia is one of the largest grain suppliers to Brazil

Argentina remains the leader in grain sales to Brazil

Russia has become one of the five largest grain suppliers to Brazil, having sold $105.8 million worth of grain in the first seven months of this year, as reported by Sputnik.

According to the report, Brazil imported 380,000 tonnes of wheat and meslin (a mixture of wheat and rye) from Russia between January and July this year, making the Russian country the fourth largest supplier. Brazil did not purchase grain from Russia during the same period in 2022.

RF previously sold grain to Brazil in 2010, 2013, 2014 and 2019, with the largest sale being $5.6 million in 2010.

In turn, Brazil has been a reliable source of high-quality beef, pork and poultry meat for Russian families for more than two decades. The South American country also supplies coffee, peanuts and soya beans to Russia.

Argentina is the traditional leader in grain sales to Brazil, shipping almost two million tonnes worth US$736.3 million in the first seven months of this year.

In second place is Paraguay, from where Brazil imported 886,000 tonnes of grain worth US$290 million. Meanwhile, shipments to the two countries fell by a factor of 2 and 1.5 respectively, as reported by Prensa Latina, a partner of TV BRICS.

Note that Brazil's agribusiness has quadrupled in 20 years, with an expected harvest of 300 million tonnes this year. Between 2002 and 2022, the country's agricultural GDP (in deflated* figures) more than quadrupled, jumping from $122 billion to $500 billion.

*Deflated figures - i.e. forecast figures, adjusted to the price level of a fixed point in time by dividing by the general core inflation index.

Photo: istockphoto.com

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