By using an unprecedently disaggregated data set, this article analyzes rapid concentration and internationalization (the growing presence of multinational firms) in the agribusiness of Brazil in the past decade. This article: (1) analyzes the concentration of exports over the 1990s of seven subsectors; (2) analyzes internationalization, and mergers and acquisitions in these and other subsectors; (3) describes the managerial strategies adopted by firms to cope with the increased competition arising from concentration and internationalization; (4) discusses the particular conditions in each of the major subsectors; and (5) draws managerial and policy implications in an era of globalization.