Uruguay Meat Exports Decrease by 3% Year-on-Year in First Quarter 2024

Foreign exchange earnings from meat exports in Uruguay witnessed an 8.4% dip during the initial four months of 2024 compared to the same period last year, totaling US$775.6 million, as reported by the National Meat Institute of Uruguay (INAC).

Despite the downturn, meat, alongside wood, remains a cornerstone of the country’s agroindustrial sector, driving significant export revenue.

Uruguayan Meat Export Dynamics

Between January 1 and April 27, a total of 207,831 tons (shipping weight) of meat were exported, reflecting a 3% decrease compared to the corresponding period in 2023. The average annual accumulated price per ton stood at US$3,732, encompassing all meat items, marking a 5.6% adjustment.

Beef Dynamics

Beef exports, constituting 82% of total meat exports, faced a 3.9% revenue decline from 2023 to 2024, accumulating US$637.2 million as of April 27. In volume, reaching 158,116 tons in carcass weight, beef exports increased by 3.7%.

The average export value of beef per ton in 2024 stood at US$4,030, marking a 7.4% decline compared to the same period in 2023.

– China: Dominating 34% of beef exports, generating US$219.316 million and 67,605 tons (carcass weight, -24.2%).
– USA, Canada, and Mexico: Holding a 30% share, worth US$188 million and 47,331 tons (+50.2%).
– European Union: Contributing 15% to exports, valued at US$96 million and 13,822 tons (+13.3%).
– Israel: Representing 6% of exports, totaling US$38 million and 8,423 tons (+139%).
– Mercosur: Contribute 6% to exports, valued at US$35 million and 5,593 tons (+7.4%).

Source: America Economia

Sharing is caring!