Uruguay is committed to lessen its dependence on the Chinese market for its sales of meat and beef in particular. In recent years China, as with most other Latin American countries has become its main trade partner, absorbing non processed agricultural commodities and minerals while flooding local economies with Chinese industrial goods.
Uruguay’s revenue from meat exports dropped 25% year-on-year, some US$ 350 million less, according to data released this week by the National Meat Institute (INAC). In the first five months of 2023, US$ 1.055 billion worth of bovine meat was exported, clearly below the US$ 1.408 billion obtained in the same period of 2022.
Uruguay's national rugby team Los Teros which will be participating in World Cup in England later this year, will be provided with Uruguay's world-class prime beef to be supplied by the National Meat Institute of Uruguay, INAC.