Brazil's agribusiness sector opened 2026 with record first-quarter exports, reaching USD 38.1 billion between January and March and generating a trade surplus of USD 33 billion, according to figures cited by Forbes Brasil from Brazil's Agriculture Ministry. Export revenue rose 0.9% from a year earlier even as average prices fell 2.8%, suggesting the gain came mainly from higher shipment volumes, which increased 3.8%.
That pattern, more volume and softer prices, also appeared in commodity-specific data. Brazil's soybean industry group Abiove said the country is now expected to export a record 113.6 million tonnes of soybeans in 2026, up 5.4 million tonnes from 2025, while lower global prices are likely to reduce export revenue from the soy complex.
Volume Over Price
At the national level, soy remained the largest export chain in the quarter, with USD 12.13 billion in sales abroad, while animal proteins reached USD 8.12 billion and posted year-on-year growth. According to Forbes Brasil, fresh beef and pork both set records in value and volume, helped by expanded market access and new sanitary approvals.
The same reports said China remained Brazil's leading destination, accounting for USD 11.33 billion, or 29.8% of agribusiness exports in the quarter. India, the Philippines, Mexico and Thailand also increased their presence in Brazil's export mix, reflecting a government strategy of opening new markets. Officials said 30 new markets were opened during the quarter.
Abiove's forecast adds an important nuance. The group kept its estimate for Brazil's 2025-26 soybean crop at a record 177.85 million tonnes and raised its 2026 crushing forecast to 62.2 million tonnes, also a record. But it sharply cut its projected export revenue for Brazil's soy complex to USD 51.18 billion, from USD 58.17 billion in the previous monthly estimate, citing abundant global supply and rising stocks. In short, Brazil is expected to sell more soy, but at lower prices.
São Paulo's Mix
In São Paulo state, a major agribusiness hub despite being better known abroad for its industrial and financial weight, the farm sector posted exports of just over USD 6 billion in the first quarter and imports of about USD 1.55 billion, leaving a surplus of roughly USD 4.5 billion, according to data cited by Revista Oeste from the state Agriculture Secretariat.
Agribusiness accounted for 38.5% of all São Paulo exports in the period. The state's export basket was led by the sugar and ethanol complex, which represented 25.5% of farm exports, or about USD 1.5 billion, with sugar making up roughly 95% of that total. Meat came next at more than USD 970 million, followed by forest products at about USD 835 million, juices at USD 535 million, and the soy complex at USD 505 million.
Some of those chains, however, weakened from a year earlier. Revista Oeste reported declines in São Paulo's juice exports of more than 40%, soy exports of 10%, sugar and ethanol exports of nearly 15%, and coffee exports of 10%, even as forest products and meat rose.
A Broader Trade Signal
Taken together, the figures suggest Brazil's farm trade remains resilient, but increasingly dependent on scale, diversification and market access rather than stronger prices. São Paulo's results show how regional specialization still matters inside that national story.
For international readers, the key point is simple: Brazil's agribusiness machine is still expanding its reach abroad, especially in soy and animal protein, but 2026 is shaping up as a year in which record volumes may not translate into equally strong revenues.
Fonts: https://revistaoeste.com/agronegocio/agro-paulista-registra-superavit-de-mais-de-us-45-bi-no-1o-trimestre/ https://forbes.com.br/forbes-agro/2026/04/agro-tem-1o-tri-historico-em-2026-com-us-38-bilhoes-exportados-e-superavit-de-us-33-bilhoes/ https://forbes.com.br/forbes-agro/2026/04/brasil-deve-exportar-recorde-de-1136-milhoes-de-toneladas-de-soja-em-2026/
accessed on 21 April 2026