The Brazilian companies are expected to reach approx $80 mn in businesses in the food and agriculture sector over the next one year. Nine out of 20 companies which are visiting India as part of the Brazilian Trade and Investment Promotion Agency (Apex-Brasil) in partnership with the Brazilian Ministry of Foreign Affairs are bean producers.
According to Igor Celeste, Market Intelligence coordinator of Apex-Brasil, “It is very important to strengthen the trade between the two countries. The current trade flow does not reflect the size and economic diversity of both countries. We see India as a good and important market for Brazilian products and we believe we can be competitive and bring a quality offer of goods.”
“We have taken several initiatives towards the Indian market and Brazilian companies are getting more interested each year”, Igor added.
“The fact that from nine companies participating last year in the mission the number has gone up to 20 is indicative of the interest Indian market generates for these companies. And for the next year we have so far 25 countries which want to visit India for businesses.”
In 2017 Brazil was the third biggest seller of beans to India with 6% of the market share, after Myanmar (60%) and China (10%). Last year India imported $ 553 mn in beans and from that amount $34 mn were from Brazil.
According to the Brazilian Bean Institute (Ibrafe) the goal is to double Brazilian exports within the next three years. For this to happen, the industry has the support of Apex-Brasil, as well as the Brazilian Ministry of Agriculture, Livestock and Food Supply (MAPA).
The Brazil Trade Mission to India 2018 has focused on agribusiness and food and beverage sectors. The companies participated in the Annapoorna World of Food India Fair 2018 that took place in New Delhi and Mumbai from Sept 23- 29th.