Brazilian meatpackers lose 43K tonnes in shipments month-on-month

Marfrig, JBS, Minerva, Frigol, and other smaller Brazilian meatpackers exported less in October than they did in September.

Brazilian meatpackers saw a reduction of 43 thousand tonnes in shipments, with China included among Brazil’s buyers that reduced their purchases.

Exports in October totaled 188.56 thousand/t. In September, it was 231.45 thousand/t.

According to Secex data, in the last five working days of the month, there was an 11% drop.

The declines in October’s first and second weeks had been partially offset by the results obtained in the third week, which did not last long.

Still, foreign sales surpassed October 2021.

Please find below the track record of the volume of beef (HS 0201 and 0202) exported by Brazil between Jan 2019 and Sep 2022. The data is from DataLiner.

Brazil’s Beef exports | Jan 2019 – Sep 2022 | WTMT

Source: DataLiner (click here to request a demo)

In the next few days, we will be able to identify which countries decreased their imports.

If that is the case for China, as many suspect, the country may have started reducing imports of Brazilian animal protein, which traditionally stop in December only to pick up after the Lunar New Year in February.

A slower-paced domestic economy combined with the devaluation of the yuan against the dollar may cause purchasers to build up stocks in anticipation.

Source: Money Times

To read the full original article, please go to: https://www.moneytimes.com.br/frigorificos-perdem-43-mil-t-de-embarques-em-outubro-sobre-setembro-e-china-deve-estar-no-meio/

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