Oil and Gas

Brazil-Qatar trade peaks; animal protein stands out

Nov, 22, 2022 Posted by Gabriel Malheiros

Week 202247

According to Comex Stat data on Brazil-Qatar trade, Brazilian imports of Qatari products totaled US$ 1 billion between January and October 2022, with fertilizers and liquefied natural gas (LNG) leading the way. Conversely, Brazilian exports increased by 167% over the same period last year, generating nearly US$ 340 million. Meat is Brazil’s second most exported commodity to Qatar, trailing only iron ore.

This demand can be explained by the country’s economic profile, which is one of the world’s largest oil producers, according to the Organization of Petroleum Exporting Countries (OPEC). After 60 years, Qatar withdrew from the organization to focus on liquefied natural gas production, becoming the world’s largest exporter. On the other hand, the demand for beef and chicken meat exceeds its production, so a large portion of the animal protein consumed in Qatar is imported.

According to data released by the Brazilian Animal Protein Association (ABPA), Brazil is responsible for 60% of the chicken meat imported into the country. In the first ten months of this year, around 90,000 tonnes of chicken meat left Brazil for the Middle East country – an increase of more than 40% in the same period of 2021.

TCP, the company in charge of the Container Terminal in Paranaguá in Brazil, controls the largest Brazilian meat outlet route to Qatar. According to Comex Stat data, TCP leads in national meat exports with a 40% share and continues to grow. TCP shipped more than 38.8 thousand tonnes of meat to Qatar from January to October 2022, a 52% increase over the same period last year – with a financial movement of more than US $210 million.

Please find below the track record of container exports from Brazil to Qatar in comparison to the arrivals from the Middle Eastern country between Jan 2019 and Sep 2022. The data is from DataLiner.

Brazil-Qatar trade | Jan 2019 – Sep 2022 | TEUs

Source: DataLiner (click here to request a demo)

With the World Cup, these exports leaped in 2022 – according to ABPA, in the first ten months of the year, in revenue, the increase was 67%, and in volume, 40%.

The World Cup influenced the good numbers in exports of Brazilian chicken to Qatar. With the expectation that, during the event, the country will receive around 1.7 million visitors, food purchases increased.

Source: Monitor Mercantil

To read the full original article, please go to: https://monitormercantil.com.br/comercio-brasil-catar-esta-em-alta-carnes-sao-destaque/

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