By: Marika De Vincenzi, Elisa Donegatti, and Ester Venturelli
Teseo.clal.it – World: price of exported meat
In the last two agricultural years, Brazil has produced high quantities of Cereals and Oilseeds, especially Corn and Soybeans. The abundance of these products has kept Brazilian prices competitive compared to the United States, its main competitor, thus stimulating exports.
Cereal exports, mainly Corn and Soft Wheat, grew by +25% in 2023. In the first four months of 2024, there was a reduction of -21.4%, but quantities remain high compared to historical levels. Among buyers, purchases from Vietnam, China, the Philippines, Iran, and Egypt are increasing.
Oilseed exports, almost entirely composed of Soybeans (average unit price Jan-Apr 2024: $438/ton) and Soybean Meal ($454/ton), increased by +25.5% in 2023, while growth in the first four months stands at +11.7%. China is the main buyer for Soybeans, and the EU for Soybean Meal.
The increased availability of agricultural products has reduced the costs for animal feed, thereby incentivizing Swine and Cattle production in the country. USDA estimates indicate a growth of +4.2% in Swine Meat production and +2.4% in Beef production for 2024, continuing the upward trend of recent years. Consequently, prices for both categories have decreased, making the country more competitive and supporting exports.
Overall, Pork exports increased by 4.3% in the first quarter of 2024 compared to the same period in 2023. Despite the drop in the portion destined for China (-36.8%), lower prices have allowed for a broader and more diversified portfolio of buyers. For example, fresh, chilled, and frozen Pork (79.1% of the total) were sold at an average unit price of $2.26/kg and experienced a variation of +1.73%, despite the loss of nearly 40% towards China, thanks to increased shipments to the Philippines, Chile, and Japan.
Beef exports recorded a growth of 45.7% between January and April 2024 compared to January-April 2023. In this case, the increase is mainly driven by higher purchases from China of frozen Beef, sold by Brazil at an average unit price of $4.43/kg. Sales of frozen Beef have also significantly increased towards the United Arab Emirates (+45,362 tonnes).
Teseo.clal.it – Brazil: Beef meat export
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The CLAL.it team is composed of young people who with the help of Computer Science study the dairy market and develop tools to provide the Operators of the dairy sector with a comprehensive real-time view of the national and international market trends.
