Experts estimate the potential for beef exports from Russia at $450-480 million per year

Published 2023년 3월 14일

Tridge summary

Experts at the Agroexport center in Russia predict the country's beef exports could reach 75-80 thousand tons, valued between $450-480 million annually. This is a significant increase from the 34.6 thousand tons exported in 2022, with China being the primary market. Other significant buyers include Kazakhstan, Morocco, Saudi Arabia, and Vietnam. However, Russian beef imports decreased to a record low in 2021, with the main suppliers being Paraguay and Belarus. The global beef production trend is mostly positive, with a slight dip in 2020 due to the pandemic, and in 2022, production volumes increased by 1.7% to 59.4 million tons.

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

Original content

The potential for beef exports from the Russian Federation is 75-80 thousand tons for $450-480 million per year. This assessment was made by experts of the Agroexport center under the Ministry of Agriculture in a review of the market for this meat. In 2022, the export of Russian beef amounted to 34.6 thousand tons for $234 million. This is 6.4 and 12.6 times more, respectively, than in 2017. Record exports in physical terms were noted in 2021 - 37 thousand tons for $226.6 million. According to experts, the growth in deliveries became possible due to the opening of the Chinese market for Russian exporters. As a result, China increased imports of beef and offal from Russia from 2 tons in 2019 to 21.5 thousand tons in 2021 (by $149.2 million). Thus, China's share in Russian exports amounted to 58.1% in physical terms and 65.8% in value terms. The top 5 buyers of Russian beef also included Kazakhstan, Morocco, Saudi Arabia and Vietnam. Thus, Kazakhstan in 2021 imported 2.5 ...

Source: Milknews