Brazil sees 2nd largest beef export volume in 2023 despite Chinese embargo

Brazil had its second-largest beef export volume in the first half of 2023, despite the Chinese embargo that remained in place between February and March. It is worth noting that China is the main destination for the Brazilian product, totaling 882.67 thousand tonnes.

According to government data, the figure is 5.33% below the record-breaking first half of 2022. Still, the volume shipped is 13.56% higher from the same period in 2020, which until then, represented the second-best performance for a first semester.

It is worth mentioning that international prices have been falling despite the upward bias in the beef export volume in Brazil.

The chart below shows Brazilian beef exports from Jan 2019 to May 2023 measured in tonnes, according to the DataLiner system.

Beef exports | Jan 2019 – May 2023 | WTMT

Source: DataLiner (click here to request a demo)

In June, the average price of beef exports stood at USD 5,054.1 per tonne, down 0.88% compared to May 2023 and 26% below June last year.

On the other hand, in the short and medium term, China should keep Brazilian demand high, even though export prices are lower than those practiced last year.

Source: Money Times

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