20 Largest Agricultural Exporters in the World

20 Largest Agricultural Exporters in the World

In this report, we will discuss the 20 largest agricultural exporters in the world. If you want to read about other largest agricultural exporters in the world, go directly to 5 Largest Agricultural Exporters in the World.

Introduction

In 2022, global agricultural exports reached a historic high, surpassing $2 trillion for the first time, representing a 7.4% increase from 2021. The top 20 supplier countries collectively accounted for 69.8% of global food exports in 2022, up from 67.9% in 2021. Agroexport reported significant shifts in the global food export structure last year. Grain crops emerged as the leading category with an 8.8% share, witnessing a 16% revenue increase to $178 billion. Fats and oils followed in second place, experiencing an 18% jump to $173 billion. Meat products, on the other hand, dropped to third place with a total of $163 billion, recording a 7% growth.

Sustainable Development Goals (SDGs)

1. Goal 2: Zero Hunger
2. Goal 8: Decent Work and Economic Growth
3. Goal 12: Responsible Consumption and Production
4. Goal 13: Climate Action

Factors Affecting Agricultural Productivity

• Advanced infrastructure and technology
• Underdeveloped infrastructure and inadequate irrigation
• Promotion of essential inputs like fertilizers

Agriculture’s Impact on the Global Economy

Agriculture plays a vital role in the global economy, especially in underdeveloped countries where it serves as the primary source of labor, income, and food. The Food and Agriculture Organization (FAO) reports that agriculture engages 67% of the world’s population, contributing 39.4% to the Gross Domestic Product (GDP) and accounting for 43% of total exports, encompassing agricultural goods. Approximately 11% of the world’s land is dedicated to agriculture, while about 26% is utilized for grazing animals.

Companies Driving Agricultural Productivity

• Deere & Company (NYSE: DE)
• Corteva, Inc. (NYSE: CTVA)
• Archer-Daniels-Midland Company (NYSE: ADM)

Deere & Company (NYSE: DE)

Deere & Company (NYSE: DE) is a prominent American agricultural equipment brand that is involved in providing agricultural, construction, and forestry equipment. The company focuses on defining, developing, and delivering global equipment and technology solutions.

Lately, Deere & Company has performed well financially, exceeding analyst EPS estimates in all four of its recent quarters. In the twelve months ending January 28, 2024, the company reported revenue of $60.79 billion, displaying a 9.21% year-over-year growth.

Corteva, Inc. (NYSE: CTVA)

Corteva, Inc. (NYSE: CTVA) is a diversified agriculture raw materials company that specializes in selling seeds, herbicides, and related products. As a global pure-play agriculture company, Corteva is dedicated to providing seed and crop protection solutions for the agriculture industry to enhance the food supply.

Despite challenges faced by some industry peers, Corteva, Inc. has exceeded analyst EPS estimates in three out of its four most recent quarters. Following its latest earnings report, the company’s shares experienced an 18% increase. In the twelve months ending December 31, 2023, Corteva reported revenue of $17.23 billion, showing a slight decrease of -1.31% year-over-year.

Archer-Daniels-Midland Company (NYSE: ADM)

Archer-Daniels-Midland Company (NYSE: ADM) operates downstream in the agriculture supply chain as a commodity broker linking farmers to markets. The company recorded revenue of $93.94 billion in the twelve months ending December 31, 2023, showing a decline of -7.50% year-over-year. In February 2024, the company is facing controversy as reports suggest it is under investigation by the Justice Department for suspected accounting irregularities following the resignation of its CFO in January.

A farmer tending to his crops in a field, with a fertilizer bag nearby.

Methodology

For compiling a list of the 20 Largest Agricultural Exporters in the World, data was sourced from The Food and Agriculture Organization (FAO). Utilizing their data on exports of crops and livestock products by value, the total value of agricultural exports for the year 2022 was calculated. This comprehensive approach allowed for the summation of exports from each country across all agricultural products under the category, resulting in a ranking of the 20 largest agricultural exporters in the

SDGs, Targets, and Indicators

1. SDG 2: Zero Hunger

   • Target 2.3: By 2030, double the agricultural productivity and incomes of small-scale food producers, in particular women, indigenous peoples, family farmers, pastoralists, and fishers, including through secure and equal access to land, other productive resources and inputs, knowledge, financial services, markets, and opportunities for value addition and non-farm employment.
   • Indicator 2.3.1: Volume of production per labor unit by classes of farming/pastoral/forestry enterprise size.
   • Indicator 2.3.2: Average income of small-scale food producers, by sex and indigenous status.

2. SDG 8: Decent Work and Economic Growth

   • Target 8.3: Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity, and innovation, and encourage the formalization and growth of micro-, small-, and medium-sized enterprises, including through access to financial services.
   • Indicator 8.3.1: Proportion of informal employment in non-agriculture employment, by sex.
   • Indicator 8.3.2: Average hourly earnings of female and male employees, by occupation, age group, and persons with disabilities.

3. SDG 9: Industry, Innovation, and Infrastructure

   • Target 9.1: Develop quality, reliable, sustainable, and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all.
   • Indicator 9.1.1: Proportion of the rural population who live within 2 km of an all-season road.
   • Indicator 9.1.2: Passenger and freight volumes, by mode of transport.

4. SDG 12: Responsible Consumption and Production

   • Target 12.2: By 2030, achieve the sustainable management and efficient use of natural resources.
   • Indicator 12.2.1: Material footprint, material footprint per capita, and material footprint per GDP.
   • Indicator 12.2.2: Domestic material consumption, domestic material consumption per capita, and domestic material consumption per GDP.

Table: SDGs, Targets, and Indicators

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Source: finance.yahoo.com

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