Beef/Brazil: beef export revenue drops 29% to USD 695.2 mln

Foreign exchange revenue from the Brazilian beef export market fell 29% in February compared to the same month in 2022 to US$ 695.2 million. The volume was 16% lower compared to the same month last year, totaling 152.28 tonnes, informed the Abrafrigo industry association based on data released by the Ministry of Development, Industry, Commerce, and Services (MDIC). In total, 61 countries increased their imports while another 73 reduced purchases of the product from Brazil.

According to the association, the drop is only partially due to the suspension of exports to China, whose results may be more visible in March. Brazil suspended sales to the Asian country after an atypical case of mad cow disease was reported in Pará at the end of February.

See below Brazil’s beef exports in containers from Jan 2019 – Jan 2023. The data is from DataLiner.

Brazilian beef exports | Jan 2019 – Jan 2023 | WTMT

Source: DataLiner (click here to request a demo)

In the first two months of the year, Abrafrigo points out that sales reached US$ 1.546 billion, while the volume shipped stood at 336,102 tonnes. Compared to the same period in 2022, when beef export revenue was US$ 1.772 billion and 339,188 tonnes were exported, revenue decreased by 13%, while volume reduced by 1%. The group also recalls that average export prices to China fell by 21.8% in the first two months of the year compared to the same period in 2022, from US$ 6,228 to US$ 4,869 per tonne.

China remains the country’s largest beef importer. In January, the giant in Asia acquired 100,165 tonnes, and 72,536 tonnes in February. Chinese purchases generated revenues of US$ 840 million year-to-date.

The United States came in second, with a revenue of US$ 171.6 million (-25.6%) and a volume of 35,651 tonnes (-18%). Chile, in third place, was responsible for US$ 53.9 million in revenue during the period, with 11,617 tonnes (+1.6%) acquired.

The fourth-largest importer was Egypt, with revenues of US$ 42.8 million (-64.4%) and purchases of 12,338 tonnes (-61.1%). In fifth position is Hong Kong, responsible for purchasing 13,965 tons and revenue of US$ 42.2 million.

Source: BroadCast Agro

To read the full original news report, see: http://www.broadcast.com.br/cadernos/agro/?id=RVB1dmpmZUdQY1N6ekRueDFPRTJhUT09

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