Arab countries to outbuy EU in Brazilian products

Arab countries are poised to overtake the European Union (EU) as a destination for Brazilian agribusiness products, according to Marcos Jank, professor and Insper senior researcher on global agribusiness. Jank is regarded as one of the most authoritative voices in the industry. He made the prediction recently on TV channel Terra Viva’s Agro 360 show, which centered around the Arab countries and featured the Arab Brazilian Chamber of Commerce.

“I believe the Arab countries will outdo Europe as buyers of Brazilian agribusiness in no time,” he said, after pointing out that the EU, which imported as much as $25 billion in agribusiness goods from Brazil at one point, is now buying $16 billion. As per Brazilian Ministry of Agriculture, Livestock and Supply numbers, China is the No. 1 importer right now, with the EU in second despite the drop in imports.