USDA: Brazil to become the largest beef exporter in the world in 2022

See below the track record of Brazilian beef exports from January 2020 to February 2022. The data are from DataLiner.

Exports of Brazilian beef (HS 0202) | Jan 2020 – Feb 2022 | TEU

Source: DataLiner (click here to request a demo)

Exports to the U.S. increased by 131% in 2021 and are sharply higher thus far in 2022, following increased Brazilian market access for the fresh product in early 2021. However, Brazil will encounter sharply higher tariff rates in 2022 for exports to the U.S. once the “other country” Tariff Rate Quota (TRQ) is met.

Check below the comparison of the volume of beef exported from Brazil to China, Egypt, Hong Kong, and the USA between 2019 and 2021. The data are from DataLiner.

Beef Exports (HS 0202) to China, Egypt, Hong Kong, and the USA | 2019 – 2021 | WTMT

Source: DataLiner (click here to request a demo)

The second tier of beef exporting countries includes the smaller second, third and fourth-place countries behind Brazil. The U.S., India and Australia are all roughly the same size as exporters. By a small margin, the latest USDA forecast is for the U.S. to be the second-largest beef exporting country for the second consecutive year in 2022, with total exports totaling 58% of exports from Brazil. U.S. beef exports are expected to decline modestly from 2021 levels but will remain at historically high levels.

India is forecast to be the third-largest beef exporting country in 2022, with exports increasing year over year from 2021 levels. India was the largest global beef exporter from 2014 to 2016 but slowed and declined to a recent low in 2020 before recovering. Production of bovine meat in India includes beef and meat from water buffalo (carabeef).

Australia is forecast to be the fourth-largest beef exporting country in 2022. Beef production in Australia dropped to the lowest level in more than two decades in 2021 as the industry began to rebuild after several years of drought-forced liquidation. Beef exports are forecast to increase by 14.2% year over year in 2022. Australia accounted for just 12.3% of U.S. beef imports in 2021, the lowest on record. This compares to an average share of nearly 29% for the prior 20 years.

The top four beef exporting countries represent about 60% of the 2022 projected global total in the USDA report. The third tier of beef exporting countries begins at about half the level of Australia, including Argentina, the E.U., New Zealand, Canada and Uruguay.

Exports from these five countries are projected to decrease by 3.4% in 2022, with only the E. U. showing a slight increase in exports. Together, the top nine exporting countries are forecast to account for nearly 87% of global beef exports in 2022. Additionally, beef exports from Mexico and Paraguay are forecast at slightly more than half of the Argentina level and bring the total share of the top eleven beef exporters to 93% of the global total in 2022.

Source: Beef Point

To read the full original article, please go to: https://www.beefpoint.com.br/exportacoes-globais-de-carne-bovina-usda/