In the first three months of 2015 beef exports from Brazil fell almost a quarter on 2014 levels to 232,000t, according to EBLEX.

Interestingly, the significant decrease in trade occurs at a time when the Brazilian currency has weakened against the US dollar. There has also been a challenging situation in Brazil’s domestic economy.

In other circumstances these would help to drive exports, according to EBLEX.

However, it says the beef industry in Brazil has witnessed some significant developments internationally in recent months that are likely to have contributed to the current reduction in trade and a fall in prices, compared to the same period in 2014.

Meanwhile, India is also forecast to increase its lead over Brazil as the largest exporter of bovine meat in 2015.

However, EBLEX says it remains to be seen if India can continue to be an important player in the beef industry, should its government move to ban the slaughter of beef animals.