Beef prices reach unprecedent levels in the Egyptian market, with weekly increases caused mainly by increasing cattle feed prices.
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ABIEC forecasts that shipments will end the year at 2.02 million tonnes, fetching over USD8 billion for the first time. Top destinations include Egypt, Saudi Arabia and the UAE.
The system was launched on Tuesday (20) during the signing of the agreement between the ABCC, Maersk, Abiec, ABPA, Fambras Halal, Cdial Halal, and Jordan.
Entity hosted online meeting with representations from around 30 trade association and government bodies and invited them to be part of the committee established in the pandemic to meet the Arab supply needs.
Foreign sales were down 9.5% for revenue and 8% for shipped volume. Some Arab countries stepped up imports, including Saudi Arabia, Algeria and Libya.
A survey commissioned by the Brazilian Beef Exporters Association (ABIEC) shows that there’s no risk of a shortage in the country. Production exceeds domestic consumption by 35.5%.
The month saw 17,123 tonnes shipped from Brazil. Revenue was down 27% year-on-year.
Beef exports from Brazil are set to end the year 13% higher than 2018 at a record-breaking USD 7.5 billion as per industry association Abiec estimates.
The first half of the year saw 51,000 tons of product shipped. Sales to Arab countries as a whole also climbed.
