Brazilian Beef Exports Hit New Record in May

Jun, 10, 2024 Posted by Sylvia Schandert

Week 202423

In May 2024, Brazil exported 240,622 tons of beef, marking the second consecutive month of record-breaking export volumes and generating USD 1.056 billion. The data, released on June 6 by the Ministry of Development, Industry, Trade, and Services (MDIC), was compiled and analyzed by the Brazilian Association of Meat Exporting Industries (Abiec). Compared to April, the volume shipped increased by 1.4%, and revenue grew by 1.2%.

The following chart uses DataLiner-derived data to paint a picture of how Brazil’s exports of beef evolved from month to month, from January 2021 to April 2024.

Brazilian Beef Exports | Jan 2021 – Apr 2024 | TEUs

Source: DataLiner (click here to request a demo)

Notably, exports to the United States surged by 64.6%, reaching 13,186 tonnes, driven by a significant increase in shipments of fresh beef, which more than doubled between April and May. Revenue from exports to the US market amounted to USD 83.4 million, a 52.1% increase from the previous month.

Exports to Chile also rose in May, with 10,414 tonnes shipped, a 21.9% increase from April. Revenue reached USD 50.8 million, up 23.7% from the previous month. Shipments to the European Union increased modestly by 7.5% in volume and 3.5% in revenue, reaching 6,961 tonnes and generating USD 48.8 million. Fresh beef remained the primary product exported to this market, with average prices around USD 7,520 per tonne.

Saudi Arabia saw a 16.7% increase in the volume of Brazilian beef imports in May, totaling 6,807 tonnes. Revenue rose by 14.1% to USD 33 million. China remained the main destination for Brazilian beef, accounting for 98,243 tonnes in May. Although slightly lower than the 101,365 tonnes exported in April, the volume remained stable at around 100,000 tonnes per month. The average price for the Chinese market was USD 4,451 per tonne.

January to May 2024 Year-to-date

In the first five months of 2024, Brazil exported approximately 277,000 tonnes more than in the same period in 2023, reaching 1.07 million tonnes. Revenue increased by USD 943 million to USD 4.73 billion.

Shipments to China grew significantly during this period, with a 25% increase in volume (473,715 tonnes compared to 377,418 tonnes) and a 10.9% increase in revenue (from USD 1.9 billion to USD 2.11 billion) compared to 2023. The United Arab Emirates also saw substantial growth, with shipments increasing from 22,703 tonnes in 2023 to 85,488 tonnes in 2024, and revenue rising from USD 101.14 million to USD 393.5 million. The UAE’s role as an export hub to other markets, especially Iran, contributed to this increase.

Similarly, shipments to Turkey surged, with the country becoming the destination for 20,388 tonnes of Brazilian beef in 2024, up from 1,951 tonnes last year. Turkey has been a key route for final shipments to Iran, given the operational difficulties of direct exports to the Iranian market.

“In partnership with the Ministry of Agriculture and Livestock (MAPA), the Ministry of Foreign Affairs (MRE), and ApexBrasil, we have been working to strengthen our markets, diversify products, negotiate better trade opportunities, and address any barriers that may impede the maintenance or advancement of Brazilian beef exports,” said Abiec’s executive president, Antônio Jorge Camardelli.

Click here to read the original text: Notícias Agrícolas

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