Brazil Aims To Overtake US As Top Food Exporter By 2026, Says VP

(MENAFN- AsiaNet News) Brazilian Vice-President Geraldo Alckmin has said the country could become the world's largest food exporter by the end of 2026, potentially overtaking the United States, as the South American nation expands international markets for its agricultural products. Alckmin made the remarks on October 13 at an event hosted by Brazil's Ministry of Agriculture and Livestock in Brasilia, marking the opening of 700 new international markets for Brazilian agribusiness products since 2023. The milestone reflects efforts to expand export opportunities through trade diplomacy and compliance with international sanitary standards, as per the reports of Brasil 247.

Brazil's Agricultural Ascent

“Brazil is the fifth-largest country in the world by land area, but 60 years ago it was importing food. We should reach the end of the year as the world's largest food exporter,” Alckmin said. He highlighted the importance of foreign trade in driving economic growth, generating employment and expanding business opportunities. He also credited the country's animal and plant health standards, alongside diplomatic engagement, for helping Brazilian agricultural products enter new markets.

The 700 market openings include authorisations for specific products in overseas destinations and do not necessarily represent 700 new countries. The latest milestone was marked by permission for Brazilian fish exports to the United Arab Emirates.

Key Drivers of Expansion

Brazil's agricultural export expansion has been supported by its large farming sector and strong international demand for commodities, including soybeans, coffee, cotton, orange juice and meat. The country has also strengthened commercial ties with China, a major buyer of its agricultural produce.

Challenges and Competitiveness

However, challenges remain. Brazil needs to diversify its export destinations and increase the share of processed, higher-value products in its export basket. Alckmin has also called for lower costs and less bureaucracy to improve the country's competitiveness, as cited by Brasil 247.

The vice-president's projection comes amid growing competition in global agricultural trade. Whether Brazil overtakes the United States by the end of the year will depend on export performance and the figures used to measure food and agricultural shipments.

(Except for the headline, this story has not been edited by Asianetnews Editorial staff and is published from a syndicated feed.)

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