Brazilian beef; Bolsa de Rosário
Meat

Revenue from Brazilian beef exports see 29% drop in August

Sep, 08, 2023 Posted by Gabriel Malheiros

Week 202337

The average price negotiated for the total export of Brazilian beef in August (US$ 4,188) remained well below the values obtained in 2022 (US$ 5,909). As a result, total beef exports in August (both fresh and processed) saw a 29% reduction in revenue and nearly equaled the volume shipped. This information comes from the Brazilian Association of Meatpackers (ABRAFRIGO), based on data compiled from the Foreign Trade Secretariat (Secex) of the Ministry of Development, Industry, Trade, and Services (MDIC).

In August 2022, revenue amounted to US$ 1.359 billion, with the sale of 230,144 tons of fresh and processed beef. In August 2023, revenue reached US$ 962.2 million, with a volume of 229,774 tons.

Year-to-date until August, Brazil obtained revenue of US$ 6.772 billion (-23%) from the sale of 1,511,789 tons. Compared to last year, up to August, export revenue was US$ 8.820 billion, and the exported volume was 1,519,332 tons, according to Abrafrigo, practically equaling the total product movement in the period.

In 2022, up to August, China, the largest importer of Brazilian beef, purchased 786,543 tons, generating revenue of US$ 5.317 billion. Until August, purchases were 727,565 tons this year, with revenue of US$ 3.571 billion. With this reduction, China’s share of total Brazilian export revenues dropped from 60.3% in 2022 to 52.7% in 2023.

The significant 32.84% drop in revenues from exports to China can be largely explained by the lower average prices practiced this year with the Asian country, indicating a 27.4% drop in the eight months of the year. In the comparison between August 2023 and 2022, the average prices of sales to China dropped from US$ 6,485 per ton to US$ 4,435 per ton (a 31.6% decrease).

The chart below shows Brazil’s beef exports from Jan 2019 to Jul 2023. The data used was gathered with the aid of the DataLiner maritime data service.

Brazilian beef exports | Jan 2019 – Jul 2023 | WTMT

Source: DataLiner (click here to request a demo)

Consolidating its position as the second-largest buyer of Brazilian beef this year, the United States increased its imports from 122,760 tons in 2022 to 164,382 tons in 2023, a 33.9% volume growth. However, revenue decreased by 8.8%: from US$ 691.9 million in the accumulated 2022 to US$ 631 million in 2023.

Chile was the third-largest importer: in 2022, it purchased 51,064 tons with revenue of US$ 260.3 million. In 2023, it moved 70,126 tons (+37.3%) with revenue of US$ 343.7 million (+32%).

The Chinese city-state of Hong Kong has been expanding its purchases this year, ranking fourth among the top 20 importers. In 2022, it acquired 65,027 tons with revenue of US$ 232.1 million. In 2023, it increased imports to 74,180 tons (+14.8%) with revenue of US$ 229 million (-1.3%).

Egypt occupies the fifth position with a reduction in imports: in 2022, they were 81,316 tons, and in 2023, 52,280 tons (-35.7%), with revenue of US$ 311.3 million last year and US$ 185.3 million this year (-40.5%). In total, 67 countries showed an increase in their imports, while 95 reduced their purchases.

Source: Notícias Agrícolas

To read the original news text, visit: https://www.noticiasagricolas.com.br/noticias/boi/358997-receita-com-exportacoes-de-carne-bovina-tem-queda-de-29-no-mes-de-agosto.html

Sharing is caring!

Leave a Reply

Your email address will not be published. Required fields are marked *


The reCAPTCHA verification period has expired. Please reload the page.