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10

2022

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07

Significant Growth in Brazil’s Beef Exports

Source:

Brazil's beef monthly export volume has reached a year-on-year new high except for May.

Brazil's beef monthly export volume has reached a year-on-year new high except for May. Its beef exports totaled 932,000 tons in the first half of this year, a substantial increase of 197,000 tons or 27% of 736,000 tons in the same period last year. At the same time, Brazil’s cumulative beef exports exceeded US$5 billion for the first time, reaching US$5.62 billion, a year-on-year skyrocket of 60%. Its average beef export price increased significantly from US$4.777/ton in the same period last year to US$6,033/ton, an increase of 26% .

 

As Brazil's largest beef export market, mainland China suspended its beef imports on September 4 last year due to BSE, thus Brazil’s beef exports once fell below 100,000 tons. This year, as the Chinese market reopens, Brazilian beef has returned to a high level. Of the beef exported from Brazil in the first half of this year, 58% were shipped to the Chinese market, totaling 540,000 tons, a significant increase of 141,000 tons or about 35% year-on-year. This is also the first time that the beef export volume to China has exceeded 500,000 tons in the same period. In view of the the changing international beef market, Brazilian beef exports to China in the first half of the year increased by more than 1.7 billion US dollars year-on-year, reaching 3.67 billion US dollars, an increase of 87%; the average export price in the first half of the year also increased by 38% on the basis of last year, up about $1,871 to $6,803 per ton.

 

In June, although the export fell slightly by more than 500 tons from the previous month, it still remained above 150,000 tons, reaching 153,000 tons, a year-on-year increase of 9%; the average export price increased by 6% month-on-month to 6,825 USD dollar/ton. Exports to China rebounded to 100,000 tons again, reaching 103,000 tons, a YoY increase of 25% and a MoM increase of 7%. This month, the average price of Brazilian beef exported to China continued to rise to US$7,337/ton.