Brazil’s Agricultural Exports Boosting the Country’s Foreign Exchange

The Secretariat for International Relations for the Ministry of Agriculture, Livestock and Supply reported a decrease of 0.7% of Brazil’s agricultural exports as compared to last year July. This reported was published by the President and the Executive of Eucatex Group of companies Flavio Maluf. Read more about Flavio Maluf on Crunchbase

The agricultural sector accounts for 45.6% of the country’s foreign income. In June 2017, agricultural exports amounted to $9.21 billion. That was the same as it was in 2018 the same year. In 2018, the imports sector reached $1.04 billion. The number has plummeted by 10% the same time last year.

Flavio Maluf accounted these shifts in June and owed it to the balance in trade within the agricultural sector which reached about $8.17 billion.

Divided Participation

Of all Brazil’s exports, Soy accounted for more than 50% of all the foreign income from agribusinesses. Other four agribusinesses that contributed significantly to agro-exports include sugar and alcohol (7%), forest products (14%), and coffee (4%).

Flavio Maluf says that Asia has been a top export destination, particularly China, which has been the major destination over the past year as well as from January to June 2018.

The Numbers

According to Brazilian Supply Company (Conab), the favorable equilibrium of Agricultural Balance has played a key role in external exports regarding the soybean complex: grains, oil, and meal. Soybean production is anticipated to reach virtually 120 million tons, which will represent a spike of 4.2%, reports Flavio Maluf.

Efforts by the Ministry of Agriculture, Livestock, and Food Supply

In Brazil, the agricultural sector comprises small, medium and large-scale producers of agricultural and agricultural related products. The Ministry of Agriculture, Livestock and Food Supply is mandated to carry out the following responsibilities to ensure the sector remains production: management of regulation to streamline agricultural production, promote with agricultural business, and regulating agencies that offer agricultural services.

About Eucatex Company

Eucatex was established in 1940 by Flavio Maluf’s great-grandfather. The company started as a small sawmill in South America, but in the 1960s his father and his uncle made a move to use the sawmill to start a wood fiber lining company. The name Eucatex originated from Eucalyptus, which is the type of wood the company uses in manufacturing slabs for the furniture sector and in other civil development projects.

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Vijay Eswaran is a fifty-eight-year-old Malaysian businessman. He was born in the City of Penang but throughout his childhood, his family kept relocating due to his father’s work roles at the Malaysian Ministry of Labor. In the year 1984, he graduated from the School of Economics in London with a degree in Socio-economics. For a few years after getting his degree, he moved around Europe taking on a variety of jobs in Belgium, France, and other countries. When he finally settled in the UK, he got exposure to the binary system of marketing that fascinated him to the extent he had to get an education background in the field. So he sought a CIMA qualification and later enrolled in the University of Southern Illinois where he got an MBA.

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