Brazil’S Beef Exports Soar To New Heights In August 2024
Date
9/17/2024 3:28:54 AM
(MENAFN- The Rio Times) Brazil, the world's leading beef exporter, has achieved a remarkable milestone in its meat industry.
In August 2024, the country's beef exports surpassed 300,000 tons for the first time. This unprecedented achievement highlights Brazil's dominance in the global meat market.
The Brazilian Association of Slaughterhouses (Abrafrigo) reported a total of 301,951 tons exported in August.
This figure represents a significant 31.5% increase compared to the same month in 2023. The growth in exports demonstrates Brazil's expanding influence in the international beef trade.
Revenue from beef exports also saw a substantial rise in August 2024. The industry generated $1.122 billion, marking a 16.7% increase from the previous year's $961.8 million. This financial boost underscores the economic importance of Brazil's beef sector.
Several factors contributed to this record-breaking performance. Industry representatives cited favorable market opportunities and advantageous exchange rates as key drivers. These conditions have enabled Brazil to strengthen its position in the global meat market.
The cumulative beef exports for 2024 have reached an impressive 2.03 million tons. This figure represents a 34% increase compared to the same period in the previous year. The corresponding revenue has grown by 20%, totaling $8.1 billion.
Brazil's Beef Exports Soar to New Heights in August 2024
China remains Brazil's largest beef importer, despite a slight decrease in market share. The Asian giant increased its purchases by 9.5% to 796,836 tons in August. However, its share of total exports dropped from 48.1% in 2023 to 39.2% in 2024.
The United States, Brazil's second-largest beef importer, significantly increased its purchases. US imports rose by 103.7% to 334,733 tons in 2024. This surge indicates growing demand for Brazilian beef in the North American market.
The United Arab Emirates has solidified its position as the third-largest importer of Brazilian beef. The country, which serves as a distribution hub for the Middle East, increased its imports by approximately 190% to 114,104 tons.
Overall, 89 countries increased their imports of Brazilian beef in 2024, while 76 reduced their purchases.
This diverse customer base demonstrates the global appeal of Brazilian beef and the industry's resilience in international markets.
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