Pork: Brazil earns 35.4% of Oct 2021 revenue in 5 working days

According to government information released on Monday, Oct 10, exports of fresh, chilled, and frozen pork from Brazil reached 35.4% of the total amount, in dollars, raised in the entire month of October 2021 in merely five working days.

SAFRAS & Mercado analyst Fernando Henrique Iglesias points out that this earnings acceleration is positive and extremely important for Brazilian swine farming. “We need to perform well in pork exports, and the results recently obtained indicate that average global prices are rising. It is also important that we are pulverizing destinations,” comments him.

Iglesias also comments that, despite a more extensive range of destinations, the result on October 2022 also shows the “China effect” since the giant Asian market, which had a week-long weekend at the beginning of the month, the Golden Week, may have pushed consumption in the period forward, anticipating large quantities purchased.

See below the track record of the volume of pork (HS code 0203) exported by Brazil between January 2019 and August 2022, according to data available on DataLiner.

Pork exports to key countries | Jan 2021 – Aug 2022 | WTMT

Source: DataLiner (click here to request a demo)

The revenue obtained from pork exports at the beginning of the month, US$ 71,976,117, represents 35.4% of the amount earned in October 2021, which was US$ 203,280,697. Regarding the volume shipped, the 28,915.87 tonnes are 32.7% of the total registered in October last year, amounting to 88,668,956 tonnes.

Daily earnings in the first week of the month averaged US$ 14,395,223, up 41.6% from October 2021. Compared with the previous week, there was an increase of 30.8%.

The average daily volume shipped was 5,783,174 tonnes, an increase of 30.4% compared to the same month in 2021. Compared to the result in the previous week, there is an increase of 28.9%.

The price per tonne, US$ 2,489.156, is 8.6% higher than in October last year. The outcome represents a marginal 1.5% increase over the previous week’s value.

Source: Informativo dos Portos

To read the full original article, please go to: https://www.informativodosportos.com.br/em-cinco-dias-uteis-de-outubro-brasil-fatura-com-exportacoes-de-carne-suina-354-do-total-arrecadado-em-outubro-21/

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