Brazil: Total beef exports start the year with a 14.6% drop in average prices

Total beef exports in January (fresh + processed meat) started the year with a sharp drop in the average prices paid by the main importers of the Brazilian product. According to the Brazilian Association of Meat Packers (ABRAFRIGO), average prices fell from US$4,630 per ton in January 2023 to US$3,954 per ton in January 2024 (-14.6%). Total revenue, in January this year, reached US$ 930.6 million against US$ 851.1 million in January last year, a growth of 9.3%, while the volume shipped increased by 28%, with the movement increasing from 183,817 tons in 2023 to 235,341 tons in 2024. ABRAFRIGO compiled data from the Foreign Trade Secretariat (Secex), from the Ministry of Development, Industry, Commerce and Services (MDIC). China remains the main customer for Brazilian beef, but imported 3.1% less in January 2024. From 100,164 tons in January 2023, it reduced to 97,056 tons handled this year, with a drop in revenue of US$485.3 million last year to US$427.4 million in 2024 (- 11.9%). ...