Exports rose 10% in October in October

In October, export applications, including free zones, increased 10% year-over-year and totaled $ 819 million worth of goods sold abroad. The explanation for this increase is mainly related to the positive behavior of exports of cellulose, beef, dairy products, soya and concentrated beverages, according to the Uruguay XXI Institute. Malt and cattle had a negative performance in October. "In the year 2018 cumulative, exports reached $ 7.661 million, which implies a slight growth of 1% over the same period of 2017. The pulp, wood and by-products, beef and dairy products had the biggest positive impact, while soybeans are by far the product with the biggest negative impact on exports of the year, followed by rice ", says The report.

Cellulose was exported for $ 138 million. which implies a growth of 24% over one year and "stands as the main export product of the month and the accumulation of the year". Up to 2018, the pulp has accumulated an amount of 1,388 million dollars, 33% more than for the same period of 2017. "The good performance in export is explained in largely due to the price evolution of the Uruguayan pulp mills ", says Uruguay XXI

In October, beef sales reached $ 137 million", which represents a growth of 19 % compared to the previous year ". Uruguay XXI explains that this increase is due to "the increase in the volume of export exports by 27%, while prices have decreased by 7%." In terms of destinations, China remains the main market of the month with 56% of total exports, followed by the European Union with 15% and the United States with 11%. "

For its part, dairy products continued with upward trend and experienced a 32% increase in October, reaching $ 88 million. Butter and fresh milk were the two products with the largest increases, and "Asian market growth in the purchase of fresh milk that accounted for 98% of sales of this product" is remarkable. For its part, Russia was the main destination for butter and cheese exports. "Despite the strong increase in monthly exports of these products, milk powder was the main export product with 71% of monthly dairy product sales" for a total of $ 64 million, representing an increase of 22% year after year The main buyers were Algeria (58%), Brazil (14%) and China (8%).

Another highlight is that soy has reversed the "six-month trend of sharp declines". Exports reached $ 37 million, an increase of 67% over the previous year. "The increase was almost entirely driven by higher volumes exported, while the average price per tonne was $ 367, up just 1% from October 2017. Exports totaled US $ 524 million, a 55 percent decline in the year-over-year comparison, similar to that recorded by oilseed yield per hectare, "the report said.