Tridge summary
South American countries, especially Brazil, Argentina, and Uruguay, are becoming increasingly dependent on the Chinese market for beef exports, with China accounting for over half of Brazil's meat export revenues and two-thirds of Argentina's in 2022. The reliance on the Chinese market is expected to persist, likely with Brazil gaining a larger share. The USDA reports a decrease in the cattle herd in the United States and Argentina, while Brazil's herd is growing. Despite China's beef production expected to surpass 100 million heads this year, its consumption is growing faster, leading to a need for more imports. This shift, coupled with lower prices in the world beef market, facilitates Chinese imports, despite lower prices in South American markets. In 2022, Brazil's beef and derivative exports totaled US$ 13.1 billion, while Uruguay's and Argentina's reached US$ 2.6 billion and US$ 3.4 billion, respectively.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
South America is increasingly dependent on a single beef market. Last year, China had 53.3% of the volume of all Brazilian meat exported. The Chinese share of revenues was even higher, at 61%. The Argentine situation is even more concentrated. Last year, 77.6% of the volume of chilled, frozen and processed beef sent abroad was destined for the Chinese market, according to the IPCVA (Institute for the Promotion of Beef of Argentina). The situation in Uruguay is not very different. In the first three weeks of January, the Chinese bought 54% of the beef exported by the country, according to Inac (National Meat Institute). The scenario should not change much this year in the region, probably with Brazil gaining an even larger share of the Chinese market. The herd of cattle shrinks in several important countries, such as the United States and Argentina, and grows in Brazil, according to the USDA (United States Department of Agriculture). The Chinese herd should surpass the barrier of ...
Source: Beefpoint
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