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23

2023

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02

Brazil to Halt Beef Exports to China After Confirmation of BSE

Source:

OIG+X

Brazil's beef exports to China will be halted starting Thursday (Feb 23) after a case of mad cow disease was confirmed in the northern state of Para, Brazil’s agriculture and livestock ministry said on Wednesday. At present, China Customs has not issued an official announcement, some said that is still in evaluation.

 

Brazil's beef exports to China will be halted starting Thursday (Feb 23) after a case of mad cow disease was confirmed in the northern state of Para, Brazil's agriculture and livestock ministry said on Wednesday. At present, China Customs has not issued an official announcement, some said that is still in evaluation.

 

The suspension is part of an animal health pact previously agreed between China and Brazil and is expected to be temporary. It is a blow to Brazilian farmers, as China is the main destination for Brazil's beef exports-- In 2022, Brazil will export 1.2385 million tons of Chinese beef; In January 2023, China imported 98900 tons of beef from Brazil, amounting to US $4873.3 million, accounting for 62.3% of Brazil's total beef exports.

 

-The recovery time is unknown.

In 2021, two cases of the disease triggered a suspension in beef exports to China that lasted more than three months; while in 2019, only 15 days.

 

This morning, we saw that the spot price of all Brazilian beef cuts rose rapidly as soon as the news of BSE detection in Brazil came out. It’s believed that the quotations of beef futures products from Argentina, Uruguay, Bolivia and other countries may increase.