Prices obtained from total beef exports continued to fall in March, says Abrafrigo

Published 2024년 4월 15일

Tridge summary

The international beef market has seen a decline in prices into the first quarter of 2024, continuing a trend from the previous year, with the average price per ton decreasing from US$4,520 in Q1 2023 to US$4,033 in Q1 2024. Despite this, Brazil's beef exports have surged in both volume and revenue, with China remaining the top buyer despite a slight decrease in its share. The United States and the United Arab Emirates significantly increased their import volumes, contributing to a total of 80 countries that raised their imports of Brazilian beef in the first quarter of 2024. This indicates a robust demand for Brazilian beef across the globe, even amidst falling prices.

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

Original content

Maintaining the trend observed last year, the falling prices obtained in the international beef market continue to be the sector's biggest problem at the beginning of 2024. In comparison with the month of March 2023, the total movement of March 2024 (beef processed + In natura) saw a drop in average prices from US$4,356 per ton last year to US$4,158 this year. In the quarter, average prices for 2023 were US$4,520 per ton and fell to US$4,033 per ton in the first three months of 2024. In 2023, average prices for the year were already low, at US$4,276 per ton , against US$5,582 in 2022 (-23%). The information comes from the Brazilian Association of Refrigerators (ABRAFRIGO), which compiled the data provided by the Secretariat of Foreign Trade (SECEX), of the Ministry of Development, Industry, Commerce and Services (MDIC). In terms of volume, however, exports are breaking consecutive records: in March 2023, 162,770 tons were sold abroad, with revenue of US$709 million. In 2024, ...

Source: NoticiasAgricolas