Brazil’s Beef Exports Break Record in August, Surpassing 300,000 Tonnes for the First Time

Total beef exports in August (processed products + fresh meat) exceeded 300,000 tonnes in a single month, according to the Brazilian Association of Meatpackers (ABRAFRIGO), which compiled data from the Secretariat of Foreign Trade (SECEX) of the Ministry of Development, Industry, Trade, and Services (MDIC). In August, the country exported 301,951 tonnes, a historic record for the sector, reflecting a 31.5% increase compared to the 229,668 tonnes sold in August 2023. Revenue grew by 16.7% for the month, rising from US$ 961.8 million last year to US$ 1.122 billion in 2024. However, average negotiated prices remain lower than the previous year: in August 2023, they were US$ 4,187 per tonne, while in 2024 they fell to US$ 3,716 per tonne.

According to ABRAFRIGO, for the year-to-date period from January to August, total beef exports reached 2,030,782 tonnes (+34%) compared to 1,511,612 tonnes exported up to August 2023. Revenue, with lower average prices, did not keep pace with this growth: it increased by 20%, rising from US$ 6.772 billion in 2023 to US$ 8.108 billion in 2024. Average prices, up to August, were US$ 4,480 in 2023 and US$ 3,992 in 2024.

For the year-to-date period, China lost relative share in Brazilian beef exports from 48.1% in volume in 2023 to 39.2% in 2024, despite buying 9.5% more: in 2023, it was 727,456 tonnes, and up to August 2024, it was 796,836 tonnes. Average prices, however, fell from US$ 4,908 per tonne last year to US$ 4,417 this year, and revenue decreased by 1.4%, dropping from US$ 3.570 billion to US$ 3.520 billion. The second largest importer of Brazilian beef, the United States, increased its imports by 103.7% in volume from January to August. In 2023, it was 164,338 tonnes, and in 2024, it was 334,733 tonnes. Revenue did not keep pace with this growth because average prices in 2023 were US$ 3,840 per tonne, while in 2024 they fell to US$ 2,770 per tonne (-27.9%), and revenue increased by 46.9%. The United Arab Emirates, a country that acts as a distribution hub in the Middle East, consolidated its position as the third largest importer of Brazilian beef. In 2023, it imported 38,818 tonnes with revenue of US$ 177.4 million. For the year-to-date period in 2024, the volume reached 114,104 tonnes (+186.6%) and revenue reached US$ 517.9 million (+191.8%).

Average prices remained close: in 2023 they were US$ 4,460 and in 2024 they rose to US$ 4,540. In fourth place, Chile slightly reduced its purchases: in 2023 it was 70,126 tonnes and in 2024 it was 68,259 tonnes. The revenue obtained last year reached US$ 343.7 million and in 2024 it was US$ 321.7 million. In total, 89 countries increased their imports, while 76 reduced their purchases.

Source: Notícias Agrícolas

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