Beef: Paraguayan exports rise 2% in the 1st half of 2024

In the first half of 2024, Paraguay exported 157,478 tonnes of beef, an increase of 2% compared to the 154,623 tonnes recorded during the same period in 2023, reported the Paraguayan news portal Valor Agro on Tuesday (2/7).

Revenue from these shipments reached US$766 million in the first six months of this year, 3% above the US$745 million earned in the first half of 2023.

According to the news portal, Paraguay’s best month was May 2024, with shipments standing at 31,594 tonnes, generating some US$155 million in revenue. In June 2024, exports reached 30,992 tons, with a revenue of US$149 million.

According to Valor Agro, Paraguayan beef’s average export price in June 2024 was US$4,853 per ton, US$65 less than in May 2024 (US$4,918) and US$182 less than in June 2023 (US$5,035 per ton).

Markets

Regarding export destinations, Paraguayan beef was sent to 52 countries. Chile was the largest importer, receiving 63,491 tonnes in the first half of the year, with a total revenue of US$329 million, accounting for 41% of the exports.

Taiwan came in second place with 16,006 tons imported and $74 million in revenue. Brazil came in third place with 12,212 tonnes and $76,6 million in revenue.

Progress in NAFTA Countries

Shipments to the United States are near 10,000 tons, in line with the initial expectations of agents linked to Paraguayan exporting meatpacking plants, reported Valor Agro. Between January and June, 8,302 tonnes were shipped to the North American market for US$37 million. In the first six months, the USA ranked sixth among the largest buyers of Paraguayan beef, while Canada ranked 40th, with 51 tonnes and revenue of US$254,559.

In a conversation with Valor Agro, meat broker and commercial director of Agromeals, Juan Lema, highlighted the progress of Paraguayan beef in North America. “Without a doubt, these are very attractive markets,” he said, adding, “The USA needs lean meat from South America for hamburger production.”

Lema mentioned Brazil as Paraguay’s main competitor in the North American market, noting that the two countries share an annual quota to export beef without tariffs, which is usually quickly filled by Brazilian exporters. According to Lema, Paraguay’s opportunities in the US and Canadian markets “really depend” on Brazil’s actions, as Brazil is responsible for the largest volume of meat delivered within the annual quota.

Source: DBO

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