Brazilian beef exports up 25.9% in the 1st quarter, says Abiec

Brazil’s beef exports totaled 598,639 tonnes in the first quarter, a 25.9% increase compared to the same period in 2023, according to data released on April 4 by the Brazilian Association of Beef Exporting Industries (Abiec), based on government data.

Revenue reached $2.64 billion, up 18.5% from the same period last year.

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)

According to Abiec, during the first quarter of 2024, China was the top importer of Brazilian beef, purchasing 273.6 thousand tonnes, and generating approximately $1.2 billion in revenue.

Shipments to the Asian country increased by 21.4% in volume and 9.4% in revenue. However, the average price of the product decreased by 10% to $4,452 per ton.

Abiec reported that the United States was Brazil’s second-largest market in the first quarter, with a volume of 44 thousand tonnes and revenue of $261 million. There was an 8% increase in volume and a 13.2% increase in revenue due to a 5.4% increase in the average price of fresh beef products.

Antônio Jorge Camardelli, President of Abiec, stated that the United Arab Emirates and Turkey have significantly increased their participation in Brazilian exports, “driven by the choice of these routes as an alternative to serving the Iranian market.”

He also noted that shipments to Mexico, a market recently opened to Brazilian beef, are beginning to grow.

Source: BR Investing

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