Analysis Cattle & Beef
EU imports significantly more Brazilian beef
The Brazilian beef export in November is significantly higher than in the same month last year, according to data from the Brazilian association of beef exporters (Abiec). However, the export was considerably lower than the record level of the last two months. China remains the largest importer and the United States still ranks second. Remarkably, the import from the European Union also increased significantly.
The Brazilian beef export in November again significantly increased compared to the same month in 2023. Brazil exported a total of 259,000 tons of beef. This is an increase of 10.3% compared to the volume exported a year earlier. The value of the export increased by 19% to $1.23 billion in the same period. Although this is a very strong result, the Brazilian beef sector cannot match the performance of the two previous months. Compared to the record month of October, the export decreased by 13.3%.
In the first eleven months of the year, Brazil exported 2.65 million tons of beef. This represents a 15.5% increase compared to the entire year of 2023. Compared to the first 11 months of the previous year, the export increased by 28.7%. That year, the export amounted to 2.06 million tons. The same applies to the value of the export. The value was already 11.7% higher after eleven months than in the whole of 2023. Compared to the period from January to November 2023, the export increased by 23.3%.
China and the United States
China remains the main importer of Brazilian beef. Brazil exported a total of 123,000 tons of beef to the Asian country. This is an increase of 11.1% compared to the previous year. The value of the export increased by 15.1% to $581 million. During the first eleven months of the year, China exported 1.2 million tons of beef. This is slightly more than what Brazil exported to the Asian country in the whole of 2023. Due to lower prices in the Chinese market, the value of the export did not increase as strongly. Compared to the first eleven months of the year, the value of the export decreased by 12%. The value of the export amounted to $5.4 billion in the first eleven months of the year, representing an increase of 3.9%.
Next, the United States is the largest export market. Due to drought in the country, which is normally a net exporter, the country imported much more beef. In November, the country imported 31,500 tons of beef. This is an increase of 118.3% compared to November 2023. In the United States, higher prices led to a slight increase in value compared to the exported volume. The value of the import was $190 million in this period. Compared to the previous year, the value increased by 124.7%. The export in the first eleven months of 2024 amounted to 206,500 tons. This represented a 75% increase over the entire period. Surprisingly, the value of the export increased less strongly in the first eleven months of the year. The value of the export increased by 'only' 66.7% to $1.2 billion.
European Union takes over
Additionally, the effect of the tight European beef market in the European Union is noticeable. The EU imported 13,000 tons of beef from the South American country in November, an increase of 59% compared to the previous year. Over the first eleven months of 2024, the European Union imported 102,000 tons of Brazilian beef, an increase of 7.2% compared to the same period the previous year. The value increased by 8.5% to 690,000 in this period.
In the first 11 months of the year, the United Arab Emirates ranked fourth. The export to the Gulf state increased significantly this year. During this period, the country imported 129,000 tons of beef. This is an increase of 103.3% compared to the previous year. The export to Hong Kong increased very slightly in the period from January to November, resulting in the export ranking fourth. The export increased by 3.3% to 129,000 tons. Finally, a significant increase in export to the Philippines is noticeable. The export to that country increased by a whopping 67% to 87,000 tons. However, the export to Egypt decreased by a significant 49.5% to 80,500 tons.
