Brazil beef exports worth over €3.1 billion this year
Brazilian beef and veal exports in the first nine months of this year were up by 8% on the same period in 2013 to 916,000 tonnes worth over €3.1 billion according to EBLEX.
Brazil plays a vital role in the global beef sector, with the second largest cattle herd after India it is a key exporter.
EBLEX says recently, the Brazilian economy has been under pressure, resulting in weak domestic demand. Combined with a small uplift in production, there has been increased availability for the export market.
It says export growth has been further supported by firm global demand and the weak Brazilian currency throughout the year. The value of exports reached almost R$10 billion, up by 20% on the year earlier, given a 12% rise in the average price in real terms.
Russia remained the main market according to EBLEX and shipments were up by six per cent in the first nine months of this year, compared with a year earlier.
Russia is likely to remain the key market for Brazilian beef, especially as imports have been banned from the EU, the US and Canada since August.
Despite this, trade with Russia in September was up only 10% on the year, although in the third quarter as a whole it was up by over a quarter. Local trade sources indicated that the Russian Federation has approved more than 100 Brazilian plants to export beef and beef products, hugely benefiting Brazilian beef producers.