The Arab Chamber reports, in a note, that sugar led the list of foreign exchange revenue, with US$ 3.443 billion, a 24.73% increase compared to 2021, followed by poultry derivatives (US$ 3.164 billion, +30.58%), iron ore (US$ 2.914 billion, -24.03%), corn (US$ 2.013 billion, +92.12%), soybeans (US$ 1.107 billion, +73.53%), and beef derivatives (US$ 1.044 billion, +13.55%).

In 2022, the main destinations for Brazilian products to the bloc were the United Arab Emirates, Saudi Arabia, Egypt, Algeria, Bahrain, Morocco, Oman, and Qatar.

According to the Chamber, there was also an increase in Arab sales to Brazil, with a growth of 53.37% compared to 2021, reaching US$ 15.037 billion. With this result, trade between Brazil and the Arab League reached the unprecedented mark of US$ 32.780 billion, with a surplus for Brazil of US$ 2.706 billion, according to the entity.

Agribusiness products were sold at average prices 14.40% higher compared to 2021. The analysis considers the values and volumes registered by the approximately 190 HS4 positions (one of the nomenclatures for product categories) sent from Brazil to the Arab League, especially when analyzing the products at the forefront of the agenda.

Among the top 15 best-selling products, coffee recorded the highest increase, according to the Chamber. The commodity was traded in the Arab League at US$ 3,962.57 per ton, an 88.10% increase over the previous year. Corn was sold at US$ 273.96 per ton, an increase of 36.46% compared to 2021. Poultry meat prices rose by 26.23% to US$ 2,171.96 per ton.

Source: CNN. 23/01/2023