China drives up Brazilian beef exports

Data from SECEX (the foreign trade secretariat) compiled by ABRAFRIGO (the Brazilian association of meatpacking industries) show that in March, the country’s beef exports (fresh and processed) reached 159,400 tons and generated sales of US$ 713.5 million. Compared to the same month of 2020, the volume grew 8% and the revenue grew 12%. The increase was driven by China, which again expanded its purchases after the Lunar New Year.

“Chinese purchases, added to those from Hong Kong, are growing steadily in 2021: in January, 74,707 tons were shipped. In February, 79,895 tons were shipped. And in March, 93,692 tons were shipped. In the first three months of the year, this meant a 59.9% share of total Brazilian beef exports and a 60% share in the revenue”, informed ABRAFRIGO, in a note.

In the first quarter, shipments reached 411,000 tons, still 1% less than in the same period in 2020. In this comparison, revenue remained stable at US$1.8 billion.

See the graph below showing Brazilian beef exports to China and the rest of the world:

Source: Valor Econômico

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