Exchange Rate Boosts Colombian Beef Exports

In the first ten months of 2024, Colombian beef exports achieved remarkable results, solidifying the country as a key player in the global market. Russia emerged as the top destination, importing 9,924 tons valued at $38 million. China ranked second, purchasing 3,158 tons ($13.4 million), while Chile imported 1,404 tons ($6.9 million). Altogether, exports totaled 17,293 tons, generating $71.6 million in revenue.

El Salvador stood out as an emerging market in Central America, buying 1,103 tons of Colombian beef for $6.2 million between January and October. Other notable destinations included Curaçao, Egypt, Hong Kong, Iraq, Libya, Turkey, and Saudi Arabia, reflecting the growing diversification of Colombian exports.

According to José Félix Lafaurie Rivera, Executive President of FEDEGÁN, Colombia is establishing itself as a distinguished beef exporter. The country produces meat from natural pastures and, in many cases, with sustainable practices. The country generates over 900,000 tons of beef annually, supplying domestic and international markets. China, expanding its trade ties with Colombia, has become a significant destination while efforts are underway to secure entry into the U.S. market.

A key factor driving the growth of exports has been the favorable exchange rate, which makes Colombian cattle prices more competitive than those of major exporters like Brazil, Paraguay, Uruguay, and Argentina. Despite stable international beef prices, the outlook remains attractive for exports. Additionally, live cattle exports are expected to gain momentum in the coming months, driven by demand associated with Ramadan in destination countries.

This strong performance reaffirms Colombia’s potential as a global supplier of high-quality beef, with established markets and expanding new opportunities.

Source: Agro Link

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