Uruguay meat export revenue sees 24% year-on-year drop

Uruguay’s revenue from meat exports dropped 25% year-on-year at about 350 million less, according to data from the National Meat Institute (INAC).

In the first five months of 2023, USD 1.055 billion worth of meat was exported, clearly below the USD 1.408 billion obtained in the same period of 2022.

From the beginning of January to the end of May, 245 thousand tonnes (shipping weight) were shipped (considering all products from the meat agroindustry), whereas last year, 280 thousand tonnes were exported. Therefore, there was a drop in the volume placed at 12.5%.

Currently, the average price per ton stands at US$ 4,112, compared to US$ 4,626 recorded during the corresponding period in 2022, representing an 11% decrease in the average value.

See below Uruguay’s beef exports shipped in containers between Jan 2019 and Apr 2023, according to information by Datamar’s maritime intelligence service DataLiner.

Beef exports from Uruguay | Jan 2019 – Apr 2023 | TEU

Source: DataLiner (click here to request a demo)

Leading consumers

• China: 49% ($518 million), down 37% in 2023 compared to 2022.
• US + Canada: 20% ($211 million) with a 15% improvement.
• European Union: 14% ($145 million), down 15%.
• Mercosur: 5% (US$56 million), down 17%.
• Israel: 2% ($20 million), down 40%.

Considering beef exports alone, which account for 79% of the total foreign exchange income earned by the Uruguayan meat industry, revenues fell 25% year on year, reaching USD 800 million, down 17.5% in volume, reaching 189 thousand tonnes (dressed weight).

This commodity’s Average Export Revenue (IMEx) for the current year is $4,409 per tonne, a significant decrease of 13% from the value of the same period the previous year ($5,088).

The average price increased, and in the last measured week, which ended on May 27, stood at US$ 5,036 a tonne of beef.

Source: El Observador, translated to Portuguese by the BeefPoint Team and later to English by the DatamarNews team.

To read the original text, check: https://www.beefpoint.com.br/receita-de-exportacoes-de-carne-do-uruguai-caiu-25-este-ano/

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