Brazil’s revenue from beef exports drops 24% in September

Brazilian beef exports experienced a 24% drop in revenue in September, reaching $1.003 billion compared to $1.322 billion in the same month in 2022, with a total movement of 246,332 tonnes. The volume increased by 6% compared to the total of 231,408 tonnes shipped in September 2022.

These figures are from the Brazilian Association of Meatpackers (Abrafrigo), which compiled the data from the Foreign Trade Secretariat (Secex) of the Ministry of Development, Industry, Trade, and Services (MDIC).

For the year-to-date, revenue decreased by 23% until September. In 2002, the accumulated revenue until September was $10.14 billion. In 2023, for the same period, it was $7.77 billion.

There was a slight 0.4% increase in volume. In this year, until September, 1,758,014 tons were exported. In 2022, the total movement reached 1,750,740 tons.

The main issue affecting exports in 2023, according to Abrafrigo, is the prices paid by importers for Brazilian products. Average prices in Brazil’s primary importer, China, fell by 27.6% year to date through September, falling from $6,700 per ton in 2022 to $4,850 per ton in 2023. Revenue fell from $6.188 billion to $4.173 billion as movement fell from 924,238 tons to 860,968 tons (-6.85%).

Purchases from the United States, Brazil’s second-largest importer, increased by 52.9% from 128,631 tons to 196,652 tons until September. However, average prices fell by 36.5%, from $5,680 per ton last year to $3,610 per ton through September 2023. As a result, revenue decreased (-2.8%) from $730.1 million in September 2022 to $709.4 million in September 2023.

Chile, the third-largest importer, handled 76,088 tons in 2023 compared to 57,622 tons in 2022 (+32.1%). Revenue went from $292 million last year to $371.7 million this year (+27.3%). Hong Kong, in the fourth position, imported 74,258 tons year-to-date until September 2002 and 86,101 tons in 2023 (+16%), but revenue dropped by 0.7%, going from $264.6 million to $262.8 million.

In total, 69 countries increased their imports until September, while another 97 reduced their purchases.

Source: Agro em Dia

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