Uruguay: Beef exports to China are lowest since 2016

Published 2024년 8월 6일

Tridge summary

Uruguay has seen a decrease in beef exports to China, with July's exports being the lowest since 2016, due to lower slaughter numbers and dull market prices. The country exported 26,324 tons of fresh beef in July, with only 10,054 tons going to China. However, Uruguay has experienced growth in exports to the United States, Russia, Israel, Japan, and Italy, with a 21% rise in exports to the European Union, particularly to Italy. The growth in exports to the EU is largely driven by an increase in frozen meat sales, especially to Italy.

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

Original content

Lower beef production due to lower slaughter and relatively low prices offered by Chinese importers continue to put downward pressure on volumes exported by Uruguay to China. In July, according to customs export order data, Uruguay exported 26,324 tons of fresh beef, 2,500 tons less than in June and the lowest monthly quantity so far this year. Of this volume, only 10,054 tons were shipped to China, 38% of the total, far from more than 70% when in 2021/22 the Asian country dominated the demand for this protein. Exports to China in July were the lowest for that month since 2016, eight years ago. Exports of boneless and frozen meats to China totaled 6,603 tons, almost the same amount exported to the United States (6,596 tons). The average export value to the USA ($/t 5,534) is almost $/t 900 higher than the average export value to China. Additionally, 3,318 tonnes of bone-in beef were shipped to China at an average value of US$/t 2,957. In the first seven months of the year, exports ...

Source: Beefpoint