High pork prices in China drive Brazilian meat industry earnings up in Dec/22

According to government data released on Monday, Jan 2, exports of fresh and frozen pork in the 22 working days of December resulted in a substantial increase in revenue compared to December 2021 and November 2022, partially due to high prices practiced in China.

Revenue obtained from meat exports up to the end of the month, US$ 236,441,649, increased by 32.12% over the amount obtained in December 2021, which was US$ 178,950,681. In the case of volume shipped, the 92,540.191 tonnes are 15.7% more than the total registered in December last year, amounting to 79,983.059 tonnes.

Compared to the previous month, the US$ 236,441,649 raised with pork exports in December represents an increase of 49.2% compared to the total in November, US$ 158,412,124. As for the volume sold, the 92,540.191 tonnes shipped in December represent an increase of 9% over what was computed in November, amounting to 84,881.911.

See below the track record of the volume of Brazilian pork (HS code 0203) exported from Jan 2019 to Nov 2022. The data is from DataLiner.

Brazilian pork exports | Jan 2019 – Nov 2022 | WTMT

Source: DataLiner (click here to request a demo)

According to the market analyst at Agrifatto Consultoria, Yago Travagini Ferreira, “in the case of pork, the numbers came in as expected for Dec/22, 92 thousand tonnes, higher than in November due to the greater number of working days”.

“Year-on-year, the leap is explained by China buying more in the second half of the year, as prices boomed there in that period, which did not happen in 2021. In fact, in December 2021 and early 2022, pork prices were at the trough in China,” he commented.

By the daily average, earnings totaled US$ 10,747,347, an amount 38.1% higher than in December 2021. However, there was a 9.7% drop compared to the previous week.

In volume, the daily average, 4206,372 tonnes, increased by 21% from the same month in 2021. Yet, when compared to the previous week, the drop was 9.5%.

The price paid per tonne is US$ 2,555.015, 14.2% higher than the previous December. Nonetheless, the result represents a 0.22% decrease compared to the previous week’s value.

Source: Notícias Agrícolas

To read the full original article, please go to: https://www.noticiasagricolas.com.br/noticias/feijao-e-graos-especiais/337455-precos-altos-da-carne-suina-na-chiona-puxaram-alta-na-arrecadacao-das-exportacoes-da-proteina-brasileira-em-dezembro-22.html#.Y7NdsXbMLIU

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