The escalation of conflicts in the Middle East, following U.S. and Israeli attacks on Iran, is likely to significantly impact Brazil's chicken and corn exports, two of the country's main exports to the region.
The recent escalation of conflicts in the Middle East, particularly due to the U.S. and Israeli military actions against Iran, is expected to have considerable ramifications for Brazil's agricultural exports, especially in the poultry and corn sectors. Brazil's Ministry of Development data highlights that the Middle East accounted for a substantial part of the country's agricultural exports, specifically $3 billion in chicken sales, which represented approximately 34.8% of Brazil's total poultry exports last year. Similarly, corn exports to the region totaled about $2.7 billion, making up 32.4% of all Brazilian corn shipments. This reliance on the Middle Eastern markets underscores the potential economic challenges that Brazil could face as geopolitical tensions escalate.
