China expands beef, pork imports from Brazil

Beef exports (fresh and processed) from Brazil totaled 173.8 thousand tonnes, generating USD 872.7 million in November, according to data from the country’s Foreign Trade Secretariat (Secex) and made public by the Brazilian Meatpackers Association (Abrafrigo). Compared to a year ago, the volume grew by 65.2% and revenue by 74.2%.

To a large extent, the substantial increase can be attributed to the low basis of comparison, as China, the leading destination, maintained an embargo on Brazilian beef a year ago following the identification of atypical cases of mad cow disease in Minas Gerais and Mato Grosso.

Abrafrigo highlighted that the volume fell to less than 200 thousand tonnes after four months and that revenue was below US$ 1 billion after reaching results above that mark for eight consecutive months.

Despite the slowdown, Brazil shipped 2.159 million tonnes from January to November this year, 25.8% more than the same period last year, while revenue increased 44% to US$ 12.2 billion.

With the resumption of purchases following the embargo, China imported 1.149 million tonnes in the first 11 months of 2022, representing a 59% increase over the same period in 2021. As a result, sales revenue increased by 93% to $7.48 billion.

See below the volume of beef (hs 0201) exported from Brazil to China between Jan 2019 and Oct 2022, according to the DataLiner market intelligence service by Datamar.

Brazilian beef exports to China | Jan 2019 – Oct 2022 | WTMT

Source: DataLiner (click here to request a demo)

Brazil’s pork exports totaled 93.4 thousand tonnes in November, up 18% over the volume shipped in the same month of 2021, according to the Brazilian Animal Protein Association (ABPA). Revenue from shipments grew 35.1% in the same timeframe and reached US$ 230.5 million.

Last month, China was also the top destination for Brazilian pork exports. In November, sales to the Chinese increased by 95% to 42.8 thousand tonnes. Chile ranked second in purchases of Brazilian pork for the first time, with imports totaling 7.7 thousand tonnes, 53% more than in November last year.

From January to November YTD, the volume of shipments was 1.017 million tonnes, down 2.8% from the same period in 2021. Revenues fell 5.3% in the same comparative frame to US$ 2.319 billion.

In a note, ABPA president Ricardo Santin reported that the monthly average of exports for the second half of this year was 101.4 thousand tonnes, exceeding the 95.7 thousand tonnes in 2021.

Source: Valor Econômico 

To read the full original article, please go to: https://valor.globo.com/agronegocios/noticia/2022/12/07/china-expande-importacoes-de-carnes-bovina-e-suina-do-brasil.ghtml

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