According to a report by Paraguay's National Newspaper on the 19th, the U.S. Department of Agriculture estimates that global beef production will reach 61 million tons by the end of this year, with Paraguay accounting for 4%. With an estimated beef export volume of approximately 500,000 tons, Paraguay has surpassed Uruguay, which is expected to export 485,000 tons this year. Meanwhile, Brazil remains the largest exporter, with an estimated export volume of 3.75 million tons.
Data from the Central Bank of Paraguay (BCP) shows that as of July this year, Paraguay's beef exports totaled $1.209 billion, a 29.2% increase from the same period last year. In terms of export volume, there was a nearly 10% year-on-year increase, with 212,600 tons exported.
In terms of export markets, as of July this year, Chile remains the largest buyer of Paraguayan beef, with Paraguay exporting $398.9 million worth of beef to Chile. Taiwan is the second-largest buyer, with a significant increase in both export volume and value, reaching $164.2 million. Israel ranks third, importing $129 million worth of Paraguayan beef. The United States has returned to the fourth position, with imports valued at $115.1 million.
Regarding export prices, Israel ranks first, with an average implicit price of $6,414 per ton for Paraguayan beef exported to Israel, a 25.4% increase from the same period last year. Brazil ranks second, with an average price of $6,372 per ton, a 11% year-on-year increase. Chile ranks third, with an average price of $5,999 per ton, a 16.3% year-on-year increase. Implicit price refers to a price derived through calculation using other variables or relationships, rather than a directly observed price.
Data from the National Animal Quality and Health Service of Paraguay (Senacsa) shows that in the first half of this year, Paraguay's beef exports reached a recent high of $1.056 billion, a 37% increase from the same period last year, and about double the average level before 2020 (less than $500 million).
The positive trend in Paraguayan beef exports in the first half of this year is not only reflected in the increase in export value but also in the continuous growth in export volume. The export volume of Paraguayan beef increased by 17.5% year-on-year, continuing the expansion trend.