Brazil’s beef exporters expect to end the year on a record $7.5 billion in revenue, up 13.3% from 2018, Brazil-Arab News Agency (ANBA) reported on Tuesday (Dec 10).
ANBA was citing the Brazilian Beef Exporters Association (ABIEC) that held a press conference on the same day.
ABIEC forecasts beef exports for 2020 to grow a “steady” 15% in revenue as the country’s suppliers eye new markets such as Indonesia, said the ANBA report.
“The expectation for 2020 is for steady 15% growth in revenue, to $8.5 billion, and 13% growth in volume, exceeding 2 million tons, driven by the possible accreditation of additional plants to sell to China, the beginning of sales to new markets, like Indonesia, and the keeping of current markets,” wrote the news agency.
Indonesia authorised beef exports from 10 Brazilian meatpacking plants at the end of August.
China started granting more export licenses to Brazilian meatpacking plants this year as disease hit local supply.
The China effect has had an immediate impact on Brazil’s beef exports but demand from the Asian powerhouse has diverted exports away from Egypt, which buys the same type of beef, ANBA said citing ABIEC executive director Liege Nogueira.
Egypt is the third largest importer of Brazil’s beef, buying $463.8 million for January-November, according to ANBA’s report.
ABIEC reported “the best monthly result in history” for October exports that reached $808.4 million, an increase of 30% from the same month in 2018.
According to ANBA, beef exports through November climbed 12.6% to $6.748 billion.
UAE, the sixth biggest market for Brazil’s beef, bought $246.2 million from January-November, an increase of 135.11%, according to ANBA.
Saudi Arabia is Brazilian beef’s ninth biggest importer, buying $128.29 million through November, a drop of 30.6% from the same period last year. ABIEC attributed the drop to “paperwork requirements”, such as changes in management and certification processes.
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