MercoPress. South Atlantic News Agency

Brazilian beef exports in November drop by 33%

Brazil beef exports dropped 33% during November following a significant contraction in global demand because of the world recession, according to the industry.

Brazilian companies shipped 132.600 tons of beef last November compared to 197.000 tons a year ago, reports the Brazilian Association of Meat Exporting Industries, Abiec. Export revenue also fell 14% in November to 335.7 million US dollars. Brazil is the world's leading beef exporter and so far this year has shipped overseas 2.02 million tons, down 14% from the same period in 2007, but income was up 22%, having reached 5 billion US dollars. According to Abiec the reviewed exports target for this year is in the range of 5.3 to 5.4 billion US dollars, compared to 5.7 billion in 2007. One of the markets worst hit by the global credit crunch and Brazil's single most important beef importer was Russia, said Abiec representatives. Abiec president Roberto Gianetti da Fonseca pointed out that the alternative markets for Brazilian beef in 2009 will be Chile and the European Union. "With the European Union it is already happening and with Chile it should start at the beginning of 2009", said Gianetti da Fonseca who added he was confident Brazil "would retake its historic supplier role in those markets".