In January 2024, Brazil’s meat exports showcased a complex picture. Despite higher volumes in beef, chicken, and pork exports, prices dropped compared to last year.
This trend stems from pressures from China, Brazil’s main market, impacting profits for local meatpackers, who rely heavily on export margins.
Beef Sector
Beef exports hit 183,800 tons, earning $930.6 million. While volume rose by 28% from the previous year, revenue only grew by 9.3%, reflecting a 14.6% dip in average prices.
China’s demand decreased slightly, affecting overall earnings. However, exports to the U.S. surged, both in volume and revenue, marking a significant growth area.
Chicken Sector
Chicken exports slightly declined to 404,900 tons, with a 20.2% fall in revenue to $683.6 million.
China’s orders decreased, but Japan and the UAE increased their imports, highlighting market shifts.
Despite challenges, the Middle East emerged as a consistent buyer, according to ABPA’s market director, Luís Rua.
Pork Sector
Pork exports grew by 11.7% to 99,600 tons, though revenue saw a 6.3% decrease.
China’s reduced purchases significantly impacted earnings, but other markets, particularly in the Americas, showed increased demand.
Brazil’s January meat exports illustrate the dynamic nature of global trade.
Despite volume gains, fluctuating prices and shifting buyer preferences present ongoing challenges.
Yet, Brazil continues to adapt, aiming to solidify its status as a top meat exporter.
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