News

The United States dethroned China as the largest buyer of Uruguayan beef

Published May 24, 2024

Tridge summary

Uruguay has shifted its beef export focus from China to the United States, with sales to the US reaching $22.83 million, compared to China's $20.25 million in the past weekend, marking a significant change since 2015. This shift is attributed to China's decreasing beef imports, while the US has become Uruguay's third-largest trading partner after Brazil and China, with a 13% share of total placements in April. Beef exports to the US have seen a 49% increase from the previous year, amounting to $83 million, and are projected to further increase by 10.5% in 2023 under the USMCA agreement. In contrast, China's imports have decreased by 22% and 34% in beef and total placements, respectively, leading to a drop in prices.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The United States was the main export destination for Uruguayan beef, dethroning China for the first time since 2015, according to the latest report from the National Meat Institute (INAC). According to data closed last Saturday the 18th, Uruguay made sales to the North American country for 22.83 million dollars, against 20.25 million from the Asian giant, which in recent times has been reducing its imports. China's hegemony in the beef market began in 2015, when it began buying more than 40% and reached more than 65%, remaining today at its lowest volume, with a volume of 77,481 tons (41% of the total). , reported Blasina y Asociados. Regarding the average paid per ton, this year it is $3,237 for the Asian giant, lower than the $4,012 for the United States. What is the commercial relationship with the United States like? In April, the United States was Uruguay's third trading partner, only surpassed by Brazil and China, accounting for 13% of total placements. According to the ...
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