DUBAI: Brazilian food exports to the Arab world has reached over US$6.6bn from January to August 2012 with the Kingdom of Saudi Arabia, Egypt and the UAE emerging as the top markets in the region, according to a new report released by the Arab-Brazilian Chamber of Commerce.
Brazilian exports to Saudi Arabia stood over US$1.5bn during the period, while exports to the UAE were valued at over US$930m. The Egyptian market recorded the biggest jump with exports totaling over US$1.2bn, representing a 28.8% increase over the same period in 2011.
According to the Arab-Brazilian Chamber of Commerce, Brazilian exports of meat of bovine animals (frozen) accounted for the biggest increase with an export value of over US$554m, up by nearly 45 per cent from the same period in 2011. Cane or beet sugar and chemically pure sucrose (solid form) are Brazil’s top export products to Arab countries with a combined value of nearly US$2.5bn, followed by meat and edible offal of poultry (fresh, chilled or frozen) with a combined value of nearly US$1.8bn. Corn (maize) is another important export product as export value increased by more than 73%, reaching over US$554m from just US$294.9m in 2011.
“The Arab world continues to be an important destination for Brazilian food exports as the region’s consistently strong demand creates lucrative growth opportunities for Brazilian food companies. The increasing volume of Brazilian food exports in the region reaffirms the healthy trade relations between the two parties,” Director-General of the Arab-Brazilian Chamber of Commerce Michel Alaby said.
“Moreover, with Brazilian food companies strongly adhering to halal standards and other quality regulations being adopted in key markets across the region, we expect export volumes to continue to rise and serve as a rallying point for long-term trade and economic cooperation. The initiatives undertaken by the Arab-Brazilian Chamber of Commerce have been key factors in further expanding trade activities between Brazil and the Arab world. We will therefore continue to explore more innovative ways to cultivate a stronger alliance among Brazilian exporters and their counterparts in the MENA region,” he added.