Brazilian exports of beef during the second half of the year should keep their bullish pace anticipates a report from Netherlands Rabobank, given the strong demand from China, United States, Egypt and the United Arab Emirates, reflected in an estimated 10% tonnage increase over 2021.
The Chinese market remains the largest destination for Brazilian beef, increasing its share to 49% of the total shipped, with 437,000 tons purchased by end of May. The increase is 38% compared to the previous year’s period, Rabobank points out.
The United States comes in second, representing a total of 8% of the total exported and totaling 71 thousand tons in the same period, up 110% year-on-year.
As a result, in terms of volume, exports totaled 887 thousand tons valued at US$ 5 billion, a 25% and 56% increase respectively, in the half year annual comparison.
In effect exports of beef from Brazil reached an average of 8.160 tons per day until the third week of June vis-a-vis 6.680 tons in the same month of 2021, data from the Department of Foreign Trade (Secex) has shown.
The positive performance occurs despite China having temporarily suspended shipments from a few Brazilian meatpacking plants since April as part of Beijing's lockdown policy to contain an outbreak of Covid 19.