Beef exports expected to hit record high in 2024, says Brazil’s Conab

A recent study put forth by the National Supply Company (Conab) projects a significant rise in Brazil’s meat beef for 2024. Beef production is forecasted to increase by 7.1% compared to 2023, reaching 10.19 million tonnes. If it comes true, such a production level would set a new historic record, driven by the peak of the reproductive cycle process expected in 2024.

In line with the growth in supply, beef exports are expected to rise by 13.4%, reaching 3.44 million tonnes. In the first six months of this year alone, beef shipments have already hit 1.7 million tonnes, marking a 25.77% increase compared to the same period in 2023. Despite the increase in exports, the domestic market is expected to remain well-supplied, with an estimated increase of 4.2% in domestic availability, totaling 6.82 million tonnes.

The chart below provides a historical overview of Brazilian beef exports in TEUs between the months of January 2021 and May 2024. The information comes from DataLiner.

Brazilian Beef Exports | Jan 2021 – May 2024 | TEUs

Source: DataLiner (click here to request a demo)

Pork production is also on the rise, with an expected total of 5.4 million tonnes, a 1.9% increase. This growth will support both exports and the domestic market, projected at 1.3 million tonnes and 4.18 million tonnes, respectively. If these estimates are confirmed, both foreign sales and domestic availability will set new records.

For poultry, Conab reports a stable outlook, with chicken meat production reaching 15 million tonnes. Domestic availability is projected to be around 10 million tonnes, while exports are expected to be approximately 5 million tonnes.

Overall, Brazil is projected to produce 30.77 million tonnes of the meats belonging to Brazil’s staple foods in 2024, representing a 3.5% increase over the previous year and setting a new historical record. This increase will boost domestic availability to an estimated 21.12 million tonnes, ensuring ample supply for the Brazilian market, and will drive a 5.2% rise in exports, projected at 9.73 million tonnes.

Edegar Pretto, president of Conab, highlighted that these increases in meat production could lead to lower prices for consumers. “With record production, we will have more meat on the market, prices for consumers will fall, and exports will increase, which is excellent for the Brazilian economy,” he noted.

Egg production is also expected to grow, with Conab estimating 42 billion eggs to be produced, a 2% increase from 2023. This higher supply should help lower prices for consumers.

These projections from Conab signal a robust year ahead for Brazil’s meat and egg production, benefiting both the domestic market and export sector.

Source: O Hoje

Click here to access the original news report: https://ohoje.com/noticia/cidades/n/1606341/t/exportacoes-de-carne-bovina-devem-bater-recorde-em-2024-diz-conab/

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