Brazilian beef shipments reach a new growth record with 319,386 tons

Published Nov 12, 2024

Tridge summary

Brazil's beef exports have seen a significant increase for the third month in a row, surpassing 300 thousand tons and marking a record high for 2024. Exports in October of this year saw a 34% increase from the same period last year, reaching 319,386 tons and generating revenues of $1,380 million, a 41% increase from 2023. The average price paid by importers also increased by 5.7% compared to the previous year. China remains Brazil's largest beef importer, followed by the United States and the United Arab Emirates, with the United Arab Emirates showing the largest increase in imports. The number of countries reducing their beef purchases from Brazil has decreased while those increasing their imports has grown to 106.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Abrafrigo | For the third consecutive month, total beef exports (fresh + processed products) exceeded 300 thousand tons, ensuring that, in 2024, the highest collection and the largest movement in the history of this product will be recorded. Last year, in October, exports were 239,130 tons with revenues of 977.4 million dollars. This year, the movement was 319,386 tons (+34%) and revenues were US$ 1,380 million (+41%), with a new monthly record. There were also gains in price negotiations. In October 2023, the average price paid by importers was US$ 4,087 per ton. This year the average price was US$ 4,321 in the same month (+5.7%), indicating an inflection in the price curve, which tends to follow the appreciation of live cattle in the domestic market. The information comes from the Brazilian Association of Meat Processing Plants (Abrafrigo), which collected the final data from the Secretariat of Foreign Trade (SECEX), of the Ministry of Development, Industry, Trade and Services ...

Source: Elagro