Brazilian beef exports drop 26% in March; soy shipments go up

Brazilian exports of fresh beef reached 124,440 tonnes in March, a drop of 26.4% year-on-year, amid the self-imposed suspension of protein shipments to China that was only lifted at the end of last month, showed data from the federal government on April 03.

According to government data, revenue from exports of beef protein fell from almost USD 1 billion in March 2022 to USD 598.79 million last year, accompanied by an 18.5% drop in the average price per tonne.

Following a protocol signed by the two countries, Brazil automatically suspended beef exports to the Chinese market as of February 23 due to the detection of an atypical case of Bovine Spongiform Encephalopathy (BSE), known as “mad cow disease.”

The Chinese government allowed purchases to resume almost 30 days after the self-embargo began. This decision was made during a visit to China by the Brazilian Minister of Agriculture, Carlos Fávaro.

Preliminary government data confirmed that exporters kept shipping cargo at the beginning of March, but it wasn’t enough to offset the total impact measured at the end of the month.

See below the track record of Brazilian beef exports (hs codes 0201, 0202) from Jan 2019 to Feb 2023. The data is from DataLiner.

Brazil beef exports | Jan 2019 – Feb 2023 | WTMT

Source: DataLiner (click here to request a demo)

Also according to the government’s foreign trade data, soybean exports totaled 13.27 million tonnes last month, outperforming the volume of 12.2 million sent abroad in March 2022, with the progress of the harvest of a record harvest in the 2022/23 season.

The amount of corn sold internationally increased to 1.33 million tonnes from 14.28 thousand tonnes a year earlier due to solid external demand for the oilseed and increased supply.

Source: Money Times

To read the original news report, see: https://www.moneytimes.com.br/exportacao-de-carne-bovina-do-brasil-cai-26-em-marco-embarques-de-soja-aumentam/

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