Brazil: can the largest pulp exporter keep growing?

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Brazil's pulp exports grew from 12.0 million tons in 2015 to 22.3 million tons in 2025, as reported by Brazil ¹. China took about two thirds of that increase. The sources we found list one large new mill under construction and two projects without a start date.

Published October 27, 2026 · Facts as of October 27, 2026 · 12 min read · Sources listed at the end

Facts as of October 27, 2026. This page states the facts as they stood on that date. Figures, rules and company plans may have changed since publication. We review this guide every six months and update the pages.

+86.0%Growth in Brazil's pulp exports, from 12.0 million tons in 2015 to 22.3 million tons in 2025, as reported by Brazil ¹

47.7%Share of Brazil's 2025 pulp exports that went to China, up from 32.1% in 2015 ¹

91.7%Share of Brazil's 2025 export tons that was bleached hardwood pulp ¹

3.5 million tonsYearly capacity of Arauco's Sucuriú mill, which Arauco plans to start in the fourth quarter of 2027 ^12,13

The 60-second version

What is it?

Brazil sold 22.3 million tons of pulp abroad in 2025, as reported by Brazil ¹. Bleached hardwood pulp, mostly from eucalyptus, made 91.7% of those tons ¹. FAO puts Brazil's pulp production at 26.7 million tons in 2024 ².

Why does it matter?

Brazil exports mostly hardwood pulp, and China buys the largest share. Brazil's shipments to China rose from 3.8 to 10.6 million tons from 2015 to 2025. Its shipments to the EU stayed near 4.7 to 4.9 million tons ¹. A change in Chinese buying or in Brazilian capacity can move the market.

How does it work?

Growth came from very large eucalyptus mills and from trees that Suzano says take about seven years to harvest ^5,8. The sources we found show one big mill under construction, Arauco's Sucuriú. Two other projects have no start date ^13,17,19.

Myth or fact?

"Brazil sells its pulp in equal parts to China, Europe and the US."

See the answer

Myth. In 2025, China took 47.7% of Brazil's export tons, the EU 22.0% and the US 13.3% ¹. In 2015 the EU took 39.1% and China 32.1% ¹.

In this post

1. How much has Brazil's pulp trade grown?
2. Why did Brazil pull ahead of the Nordics and Canada?
3. Who runs Brazil's big pulp mills?
4. What kind of pulp does Brazil sell?
5. How much new capacity is coming?
6. What could slow or change Brazil's growth?

01How much has Brazil's pulp trade grown?

As reported by Brazil, its pulp exports rose from 12.0 million tons in 2015 to 22.3 million tons in 2025. That is a rise of 86.0% ¹. The customs value rose 83.4%, from $5.6 billion to $10.2 billion ¹. Average customs value per ton was $467 in 2015 and $461 in 2025. A customs average mixes grades and months, so it shows direction only. The data show that Brazil's growth came from volume.

China took most of the increase. Brazil's own data show 3.8 million tons to China in 2015 and 10.6 million tons in 2025. China's customs record 10.4 million tons from Brazil in 2025, so the two records are close ¹. China accounts for 6.8 of the 10.3 million tons that Brazil added, or 65.9%. Shipments to the US rose 47.9%, to 3.0 million tons. Shipments to the EU (27) rose 4.8%, from 4.7 to 4.9 million tons. The EU share fell from 39.1% to 22.0% ¹.

Ibá, Brazil's tree industry body, reports 29.4 million tons produced in 2025 and 20.7 million tons exported. It marks the export figure as preliminary ²¹. That is 1.5 million tons below the customs figure. No source we found explains the difference. See why countries' pulp numbers don't match. In this post, "as reported by Brazil" means the exporter's own customs filing, which carries the destination detail.

Chart

Where Brazil's pulp goes, 2015 to 2025

• China
• United States
• Italy
• Netherlands
• Other EU
• Rest of world

Million tons. Source: UN Comtrade, as reported by Brazil; partner rows; weights that failed checks are left out. 2025 data may be revised. Other EU is the EU (27) without Italy and the Netherlands.

02Why did Brazil pull ahead of the Nordics and Canada?

FAO data show that Brazil made 0.3 million tons of pulp in 1961 and 26.7 million tons in 2024. Brazil passed Canada in 2015 and Sweden and Finland combined in 2021. In 2024, FAO's estimate for China, 27.3 million tons, passed Brazil for the first time ².

One documented reason is the speed of the tree. Ibá reports an average eucalyptus cycle of 6.7 years in Brazil, from 2022 data ⁴. Suzano says its own cycle lasts about seven years ⁵. See the tree race for the comparison with northern forests.

Ibá counts 10.2 million hectares of planted forest in 2023, of which 7.8 million are eucalyptus, or 76% ³. The base is old. Embrapa dates the first technical eucalyptus trials in Brazil to 1904, run by Edmundo Navarro de Andrade for a railway company ⁶. Suzano says that in 1961 it became the first company in the world to make paper and pulp from 100% eucalyptus fiber at industrial scale ⁷.

Chart

Who makes pulp: Brazil, the Nordics, Canada and China, 1961 to 2024

• Brazil
• Sweden and Finland
• Canada
• China (mainland)

Million tons. Source: FAOSTAT Forestry, item 1875 Wood pulp (downloaded October 2026). China's production figures are FAO estimates.

03Who runs Brazil's big pulp mills?

Suzano lists nine pulp units with 13.44 million tons of market pulp capacity a year ⁸. Its Três Lagoas mill has 3.25 million tons and its Ribas do Rio Pardo mill has 2.55 million tons ⁸. Ribas, also called Cerrado, started on July 21, 2024. Suzano's release calls it the world's largest pulp production line, and gives the cost as R$22.2 billion ⁹.

EUWID reports a Suzano investor presentation that expects about 2.57 million tons from Cerrado in 2026 and about 2.7 million tons a year from 2027, with no extra investment ¹⁰. Eldorado Brasil, also in Três Lagoas, produces about 1.8 million tons a year, all for export, the Mato Grosso do Sul government says ¹¹.

Size is the point of these mills. See why new pulp mills are so big. For the path from a Brazilian mill to a buyer, see follow one bale.

Compare

Large pulp mills in Brazil, company figures

Capacity in thousand tons a year, as the companies give it. Suzano figures from its investor relations table ⁸. Other mills exist and are not listed.

Mill	Company	Capacity	Status
Sucuriú, Inocência (MS)	Arauco	3,500	Being built, start-up planned Q4 2027 12,13
Três Lagoas (MS)	Suzano	3,250	Running 8
Ribas do Rio Pardo, Cerrado (MS)	Suzano	2,550	Running since July 2024 9
Natureza, Barra do Ribeiro (RS)	CMPC	Up to 2,500	No board decision found 17,18
Aracruz	Suzano	2,340	Running 8
Eldorado, Três Lagoas (MS)	Eldorado Brasil	About 1,800	Running; second line has no date 11,19
Imperatriz	Suzano	1,590	Running 8
Mucuri	Suzano	1,480	Running 8

Suzano says it moved more than 5.8 million tons of pulp through its terminals at the Port of Santos in 2025 ²⁶.

04What kind of pulp does Brazil sell?

Bleached hardwood kraft pulp made 91.7% of Brazil's 2025 export tons, or 20.4 of 22.3 million tons ¹. Dissolving pulp, which goes into textiles, made 6.9%, or 1.5 million tons. In 2015 it was 3.6%, or 0.4 million tons ¹. Bleached softwood made 1.2% ¹.

Brazil's average customs value for bleached hardwood, measured at the port (FOB), was $463 a ton in 2015 and $438 a ton in 2025. The low was $362 in 2020 and the high was $537 in 2018 ¹. Suzano's average net price for all the pulp it sold was $599 a ton in the second quarter of 2026 ²³.

Fastmarkets reports that Bracell said on November 6, 2025 that it would dedicate one line to dissolving pulp, which removes 600,000 tons of eucalyptus output in 2026 ²⁰. For dissolving pulp, see clothes from trees.

Chart

What Brazil exported in 2025, by grade

Share of export tons, percent. Source: UN Comtrade, as reported by Brazil, HS 470329, 470200 and 470321 ¹. Other grades make up the remaining 0.3%.

05How much new capacity is coming?

One large mill is under construction. Arauco's Sucuriú mill in Inocência, Mato Grosso do Sul, is built for 3.5 million tons a year. Arauco's board approved it on September 25, 2024, at about $4.6 billion ¹². Arauco's second quarter 2026 report shows 74.4% progress at July 31, 2026, with start-up planned for the fourth quarter of 2027 ¹³. An Arauco director said in October 2026 that the mill is about 81% complete, CNN Brasil reports ¹⁴. Times Brasil reports that up to 98% of the output is for export ¹⁵. The 3.5 million tons equal 15.7% of the 22.3 million tons Brazil exported in 2025 (our calculation).

Arauco closed $2.2 billion of financing on August 21, 2025, with IDB Invest, IFC and Finnvera. Finnvera guarantees $970 million of export credit agency financing ¹⁶. See export credit agency and structured commodity finance.

Two other projects have no start date. CMPC's Natureza mill in Rio Grande do Sul would make up to 2.5 million tons a year for about $4 billion. In 2024 CMPC said that, with permits, the board would take it up in mid-2026 ¹⁷. In April 2026 its chairman said CMPC aimed to decide during 2026 ¹⁸. No source we found reports a board approval. Eldorado's plan to grow from about 1.8 to about 4 million tons has no date either. In December 2025 its forestry director said the company has surplus wood because the second line has not happened yet, AgFeed reports ¹⁹.

So what do the sources say? Known capacity coming is Sucuriú, in late 2027. No source we found gives a forecast of Brazil's total exports for 2027 or later. The size of growth after Sucuriú depends on decisions that sources have not yet reported.

How real is it?

New pulp capacity in Brazil: how real is it?

• In Production
  Suzano Cerrado, 2.55 million tonsStarted July 21, 2024 ⁹. Suzano expects about 2.7 million tons a year from 2027 ¹⁰.
• Being Built
  Arauco Sucuriú, 3.5 million tons74.4% complete on July 31, 2026. Start-up planned in the fourth quarter of 2027 ¹³.

Stage labels: In production (commercial plants running), Being built, Planned (announced, not yet built), Pilot (test plant), Lab (research only), Stopped (closed or cancelled). Natureza and the Eldorado second line have no stage label because no source reports a decision or construction.

06What could slow or change Brazil's growth?

Shipments slowed in 2026. Times Brasil, citing Ibá, reports that exports in the first half of 2026 fell 10.5%, to 9.4 million tons ²². Suzano reports second quarter 2026 sales of 2.9 million tons, down 11% on a year earlier, mainly because of lower shipments to Asia. It also reports port stocks of about 2.7 million tons at the end of June 2026, and an oversupply of softwood pulp in China ²³. Stock at ports ties up working capital. See inventory finance.

China is also building its own mills. FAO estimates that China's own production rose from 10.2 to 27.3 million tons from 2015 to 2024, while its imports rose from 19.8 to 30.3 million tons ². See China, the largest buyer, is building its own mills.

Rules change cost. From July 22, 2026, the US applies a 25% Section 301 duty to Brazil. USTR exempts kraft pulps, including bleached eucalyptus, and covers dissolving pulp ²⁴. The EU rule on deforestation applies to medium and large operators from December 30, 2026, and Brazil is in the standard risk tier ²⁵. The EU took 22.0% of Brazil's 2025 export tons ¹. A second US duty, a Section 301 forced labor duty of 12.5%, also applies to Brazil from July 24, 2026 ²⁷. It exempts only three kraft pulp codes, including bleached hardwood kraft. See the pulp watch for current rates.

• Q4 2027Arauco plans to start Sucuriú, 3.5 million tons a year, in Mato Grosso do Sul ¹³.
• Dec 30, 2026The EU deforestation rule applies to medium and large operators. Brazil is in the standard risk tier ²⁵.
• Jul 22, 2026US Section 301 duty of 25% on Brazil starts. Kraft pulps are exempt, and dissolving pulp is covered ²⁴. See pulp watch.
• Mid 2026CMPC's target for a board decision on Natureza. No approval found in the sources ^17,18.

What this means for traders

• Brazil's hardwood supply is one grade sold mostly to one buyer: 91.7% of its export tons were bleached hardwood, and 47.7% went to China in 2025.
• Watch Sucuriú in the fourth quarter of 2027, and any board decision on Natureza or the Eldorado second line.
• Check the US Section 301 duty on dissolving pulp and the EU deforestation rule from December 30, 2026 before you sign contracts for Brazilian pulp.

Questions traders ask

Is Brazil the largest pulp exporter?

Ibá, Brazil's tree industry body, says so. Brazil's own customs data show 22.3 million tons exported in 2025, up 86.0% from 12.0 million tons in 2015. Ibá's preliminary figure for 2025 exports is 20.7 million tons.

Where does Brazil's pulp go?

In 2025, China took 47.7% of Brazil's export tons, the EU 22.0% and the US 13.3%. In 2015 the shares were 32.1% for China and 39.1% for the EU.

What kind of pulp does Brazil export?

Mostly bleached hardwood pulp, which made 91.7% of 2025 export tons. Dissolving pulp made 6.9% and bleached softwood 1.2%.

What new pulp mills are coming in Brazil?

The sources we found list one under construction, Arauco's Sucuriú, at 3.5 million tons a year, with start-up planned in the fourth quarter of 2027. CMPC's Natureza and an Eldorado second line have no start date.

How do US tariffs apply to Brazilian pulp?

Since July 22, 2026, the US applies a 25% Section 301 duty to Brazil. USTR exempts kraft pulps, including bleached eucalyptus. Dissolving pulp is covered. Check the pulp watch for current rates.

Read next

• Makers and buyersChina: the largest buyer is building its own mills
• Inside the millThe tree race: 7 years in Brazil, 60 to 80 in Finland
• Inside the millWhy new pulp mills are so big
• Start hereFollow one bale: from a Brazilian tree to a tissue roll in China
• Makers and buyersChile and Uruguay: big mills, small countries
• Money and rulesPulp watch: every rule and date in one place
• Ossiano Trade Finance GuideHow each trade finance instrument works
• GlossaryTrade finance terms in plain English

Buying or selling Brazilian pulp? Ossiano Capital works on trade finance for pulp and paper trades.

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Sources and notes

1. UN Comtrade, exports reported by Brazil (HS 470100, 470200, 470311, 470319, 470321, 470329, 470500) and imports reported by China from Brazil, 2015 to 2025; partner rows, rows with failed weights left out, 2025 provisional; downloaded October 2026 and checked by us. https://comtradeplus.un.org/
2. FAOSTAT Forestry, item 1875 Wood pulp, production and imports, 1961 to 2024 (China's production is an FAO estimate); downloaded October 2026. https://www.fao.org/faostat/en/#data/FO
3. Ibá (Indústria Brasileira de Árvores), Relatório Anual 2024 (2023 data), pages 38 to 40. https://iba.org/datafiles/publicacoes/relatorios/relatorio2024.pdf
4. Ibá, Relatório Anual 2023 (2022 data), page 49. https://static.poder360.com.br/2024/05/Relatorio_Anual_2023_Iba.pdf
5. Suzano, Biopulp site, Behind our innovation, there is BIO, June 1, 2026. https://biopulp.suzano.com.br/news/behind-our-innovation-there-is-bio
6. Embrapa Florestas, A introdução do eucalipto no Brasil pela Embrapa, in O eucalipto e a Embrapa, 2021. https://www.alice.cnptia.embrapa.br/alice/bitstream/doc/1131859/1/EmbrapaFlorestas-2021-LV-EucaliptoEmbrapa-cap1.pdf
7. Suzano S.A., History page (company description, undated). https://www.suzano.com.br/en/suzano/history
8. Suzano S.A., Investor Relations, Corporate Profile, mill capacity table (read October 27, 2026). https://ir.suzano.com.br/English/the-company/corporate-profile/default.aspx
9. Suzano S.A., Form 6-K, Cerrado Project start-up, July 21, 2024, and Suzano news release, Suzano starts operation of the world's largest pulp production line, July 21, 2024. https://www.suzano.com.br/en/news-post/suzano-starts-operation-of-the-worlds-largest-pulp-production-line
10. EUWID Pulp and Paper, Suzano's Cerrado pulp mill to exceed nominal capacity, June 15, 2026. https://www.euwid-paper.com/news/companies/suzanos-cerrado-pulp-mill-to-exceed-nominal-capacity-150626/
11. Government of Mato Grosso do Sul (Semadesc), Novo terminal da Eldorado no Porto de Santos dá mais competitividade à celulose produzida em MS, July 31, 2023. https://www.semadesc.ms.gov.br/novo-terminal-da-eldorado-no-porto-de-santos-da-mais-competitividade-a-celulose-produzida-em-ms
12. Arauco, ARAUCO's Board Approved Construction of the Sucuriú Project, September 25, 2024. https://arauco.com/en/directorio-de-arauco-aprueba-construccion-del-proyecto-sucuriu/
13. Arauco, Form 6-K, 2Q 2026 results, August 2026. https://www.sec.gov/Archives/edgar/data/0001004156/000157587226000589/ara030_ex99-1.pdf
14. CNN Brasil, Arauco avança e conclui 81% da fábrica de celulose em MS, October 6, 2026. https://www.cnnbrasil.com.br/agro/arauco-avanca-e-conclui-81-da-fabrica-de-celulose-em-ms/
15. Times Brasil, Com entrada da Arauco, Mato Grosso do Sul se consolida como polo mundial de celulose, October 14, 2025. https://timesbrasil.com.br/empresas-e-negocios/com-entrada-da-arauco-mato-grosso-do-sul-se-consolida-como-polo-mundial-de-celulose/
16. Arauco, Arauco successfully closes a US$2,200 million financing for its Sucuriú project in Brazil, August 21, 2025. https://arauco.com/en/esarauco-cierra-con-exito-un-financiamiento-de-us2-200-millones-para-su-emblematico-proyecto-sucuriu-en-brasil-con-la-participacion-de-finnvera-bid-invest-e-ifc-enarauco-successfully-clo/
17. Empresas CMPC S.A., Material Fact, Natureza Project, April 29, 2024. https://s23.q4cdn.com/927837516/files/doc_news/2024/Material-Fact-Natureza-Project.pdf
18. Diario Financiero, CMPC busca definir este año su millonaria inversión en Brasil, April 23, 2026. https://www.df.cl/senal-df/el-deal/cmpc-busca-definir-este-ano-su-millonaria-inversion-en-brasil
19. AgFeed, O plano florestal da Eldorado Celulose para em algum momento chegar na expansão de R$ 25 bi, December 19, 2025. https://agfeed.com.br/negocios/o-plano-florestal-da-eldorado-celulose-para-em-algum-momento-chegar-na-expansao-de-r-25-bi
20. Fastmarkets, Capacity curtailments needed to improve global pulp market conditions in 2026, November 12, 2025. https://www.fastmarkets.com/insights/pulp-capacity-curtailments-global-pulp-market-2026
21. Revista O Papel (ABTCP), Dados do setor florestal, January to December 2025, March 2026 issue, with Ibá Boletim Mosaico data. https://www.sinpacel.org.br/wp-content/uploads/2026/04/dados-do-setor-florestal.pdf
22. Times Brasil, Exportação de celulose cai 10,5% em 2026 após Brasil produzir recorde de 29,4 milhões de toneladas, August 31, 2026. https://timesbrasil.com.br/brasil/exportacao-de-celulose-cai-105-em-2026-apos-brasil-produzir-recorde-de-294-milhoes-de-toneladas/
23. Suzano S.A., Earnings Release 2Q26, August 12, 2026. https://s201.q4cdn.com/761980458/files/doc_news/2026/08/Release/Earnings-Release_2T26_EN.pdf
24. Office of the US Trade Representative, Notice of Action, Brazil Section 301, 91 FR 45516, July 20, 2026. https://www.govinfo.gov/content/pkg/FR-2026-07-20/pdf/2026-14542.pdf
25. EUR-Lex, Regulation (EU) 2025/2650 of December 19, 2025 (application dates), and Commission Implementing Regulation (EU) 2025/1093 (country risk tiers). https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32025R2650
26. Datamar News, Suzano sets record for pulp shipments through Port of Santos, February 23, 2026. https://datamarnews.com/noticias/suzano-sets-record-for-pulp-shipments-through-port-of-santos/
27. Office of the United States Trade Representative, Section 301 forced labor final action notice, July 23, 2026 (Federal Register 91 FR 47318, July 28, 2026). https://ustr.gov/sites/default/files/files/Press/Releases/2026/FLIP%20301%20Investigation%20Final%20Action%20FRN%207-23-26%20FINAL.pdf

Trade figures come from UN Comtrade (2015 to 2025, as reported by 10 countries) and FAOSTAT (1961 to 2024), checked and recalculated by us; each chart names whose data it uses. All tons are metric tons. All facts on this page are as of October 27, 2026, the date of publication, and may have changed since. For rules and tariffs, check the pulp watch before you act.

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