Brazilian beef exports hit record for second month in a row
RIO DE JANEIRO, BRAZIL – Brazil’s beef exports have re-recorded impressive figures after a record volume in January. Last month, 159.1 thousand tons were shipped, an increase of 55.8% compared to February 2020, according to the Secretariat of Foreign Trade (Secex).
In terms of sales, the result was even better. In February this year, US$889.4 million was collected, an increase of 91.9% compared to the result of the same period in 2021.
“This is a great performance for the Brazilian market. Brazil stands out and is very competitive, gaining markets like Australia, the United States, and Argentina. In addition, the presence of China makes a huge difference in the volumes and revenues of exported beef,” points out Safras & Mercado analyst Fernando Iglesias.
The analyst expects beef shipments to remain strong in the coming months, with monthly sales exceeding the 140,000-ton mark, as was the case earlier this year.
The Chinese market is not only driving beef exports, but also the prices currently being paid in the Brazilian market for “China standard” cattle. “If the price of this differentiated animal in São Paulo at the beginning of the year was R$ 335, now it has risen to R$ 360. This type of animal is in high demand in the market, which is very beneficial for cattle farmers.
WAR AND THE BEEF MARKET
According to Fernando Iglesias, the war in Ukraine is not a problem for Brazilian beef at the moment. “Brazil exports very small quantities of beef to both Ukraine and Russia. The impact could be on the negotiations started by the Minister of Agriculture to extend quotas to the Russian market, but given the current scenario, the negotiations are likely to cool down.”
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This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief