The commodity’s prices have declined due to a lower demand from China. Brazil’s trade balance could be impacted, and Arabs could import more.
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Arab Brazilian Chamber of Commerce secretary-general & CEO Tamer Mansour is part of the group accompanying the Brazilian federal government delegation on a trip to China headed by the minister of Agriculture. President Lula canceled his participation due to health issues. The schedule in the UAE was withdrawn.
Beef imports from Brazil to China had been suspended since February after an isolated and atypical case of BSE (mad cow disease). Minister Carlos Fávaro, who is in Beijing, announced the embargo lift.
The country has invested in planting the crop conjoined with soybean. With estimates for a record harvest, specialists believe Brazilian producers will keep the buyers won over the last two years.
The conference ended this Monday (19) in Canada with a deal signed between 190 states. The text includes important targets for halting biodiversity loss worldwide and resolutions concerning funding and monitoring.
Foreign sales from Brazil went up in volume and revenue in February from January. Industry association Abicalçados expects year-on-year sales to start going up by May.
The commodity’s prices started increasing in 2020 and are expected to stay high this year. Increased demand from China and Vale’s reduced output are some of the reasons.
Year to date through November, Brazil exported 1.8 million tonnes. China stepped up its purchases, while the second biggest importer Egypt stepped them down.
Foreign sales of agriculture and livestock products from Brazil fetched USD 10 billion last month, fueled by sales of soy to China.
Overall Brazilian poultry exports were up 15%. The Arabs, though, imported 3.5% less year-on-year.
Casablanca-Beijing route was launched this Friday and will have three frequencies a week. Moroccan company also flies to Brazil.
Arab country purchased 71,400 tonnes last year. Spearheaded by China, exports hit record levels in both volume and revenue.
Brazilian exports were up 6.4% in revenue and 2.8% in volume last year. Saudi Arabia lost its lead to the Asian country as the main destination of the product.
Last November, the ton of beef from Brazil was sold for 21.6% more than a year ago. Specialists explain how sales to the Chinese may impact other markets, such as the Arabs.
