São Paulo – Global beef prices are falling, harming the industry. In March, Brazil, the world’s leading exporter of the product, shipped the tonne for USD 4,158, down 4.5% from USD 4,356 a year earlier, beef industry group Abrafrigo reported on Monday (15). The average price encompasses both processed and raw beef.
According to Abrafrigo, the first quarter saw average prices reach USD 4,033, down 10.7% from USD 4,520 a year ago. Whole-year prices of beef exported from Brazil had already fall by 23% in 2023 compared to 2022, from USD 5,582 to USD 4,276.
Nevertheless, Brazil has hit record highs in the volume of beef exports. In March the country sold 206,000 tonnes, up 27% year on year, grossing USD 856,9 million, up 21%. In Q1, 672,300 tonnes were exported, up 35%, grossing USD 2.7 billion, 20% more compared to the Q1 2023.
Beef exports to China, US, and UAE
According to Abrafrigo, China was the top buyer of Brazilian beef in Q1, at 41.1%, followed by the United States and the United Arab Emirates. The Arab country imported 41,100 tonnes, up 275.4% in volume, grossing a revenue of USD 188.5 million for Brazil, up 270.1%.
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Translated by Guilherme Miranda
