ABRAFRIGO: Brazilian beef exports break records in August

Brazil, the world’s largest beef exporter, set a new record in total protein shipments for the month of August, shipping 211.85 million tons, an increase of 11% over the same period last year, reported ABRAFRIGO (the association of Brazilian meatpackers).

Foreign exchange revenue from processed and fresh beef exports surpassed the previous monthly record, registered in July, and increased from 1.010 billion dollars to 1.175 billion dollars. In August 2020, exports totaled 753.1 million dollars.

“The country benefited from the decrease in supply on the international market caused by the reduction in Argentine exports, due to the policy to combat local inflation, and in Australia, where the herd has not yet recovered from successive losses due to droughts and floods,” said the association in a note.

According to ABRAFRIGO, China and Hong Kong continue to be the main destinations for Brazilian beef, accounting for 59% of export revenue and volume. The United States maintains the second position among the 20 largest importers.

From January to August, total exports still showed a decline of 1% compared to 2020, but revenue rose 15%.

According to the association, 1,283,641 tons were exported, yielding $6.26 billion, based on federal government data compiled by the organization.

Source: Money Times

To read the complete original article, access the link: https://www.moneytimes.com.br/exportacoes-de-carne-bovina-do-brasil-batem-recorde-mensal-em-agosto-diz-abrafrigo/

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