Beef exports grow by 25% in Q1

Brazilian beef exports grew by 25.9% in the first quarter (Q1) compared to the same period in 2023, reaching 598,600 tonnes, according to data by the Ministry of Industry, Foreign Trade, and Services compiled by the Brazilian Association of Meat Exporting Industries (ABIEC). Revenue from exports, on the other hand, increased by 18.5%, reaching $2.64 billion.

The following chart shows the number of TEUs of Brazilian beef exported from January 2022 to February 2024. The data comes from Datamar’s top-notch maritime trade intelligence service DataLiner.

Brazilian Beef Exports | Jan 2022 – Fev 2024 | TEUs

Source: DataLiner (click here to request a demo)

China, the main importer, purchased 273,600 tonnes, generating revenue of $1.2 billion for Brazil. The volume of exports to the Chinese market increased by 21.4%, while revenue grew by 9.4%. However, the average price of the product fell by 10%, to $4,452 per tonne.

The United States was the second-largest market for Brazilian beef, importing 44,000 tonnes, an increase of 8% compared to the same period in 2023. Revenue from exports to the U.S. grew by 13.2%, reaching $261 million. The product’s price in natura to the country rose by 5.4%.

Shipments to the United Arab Emirates saw the highest growth: both volume and revenue more than tripled, reaching 41,100 tonnes and $188 million, respectively.

Antônio Jorge Camardelli, president of ABIEC, said that the increased participation of the United Arab Emirates and Turkey as export destinations was due to the use of these routes as a way to serve Iran indirectly.

Mexico, a market recently opened to Brazilian beef, is beginning to show progress in exports. The country imported nearly 10,000 tonnes, worth $46 million. “It is important to note that, during the same period last year, Brazil did not have permission to ship beef to the Mexican market,” said Mr. Camardelli.

Exports to Hong Kong, Algeria, Russia, the Philippines, Lebanon, and Libya also grew. In a statement, ABIEC said that the increase in exports to other markets “demonstrates the professionalism of the sector, always seeking diversification and greater consolidation in as many countries as possible.”

The entity noted that the increase in offal prices, which rose by 33.5%, made the Hong Kong market more attractive to Brazilian exports. The volume of shipments to Hong Kong grew by 45.2%, with revenue increasing by 94%.

Soure: Valor Internacional

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