Analysis Meat & Protein
Record masks weaker Brazilian pork meat export
The Brazilian pork meat export has set a new record in the first half of 2024. However, the results for June were significantly weaker. Nevertheless, the Brazilian meat sector association (ABPA) expects the export to increase over the entire year of 2024, as Brazil successfully diversifies its exports.
The Brazilian pork meat export has set a new record over the first half of 2024, according to data from the ABPA. In total, the South American country exported 613,700 tons of pork meat in the first six months of the year. This is an increase of 4.1% compared to the same period in 2023 when the country exported 589,800 tons of pork meat. However, the growth in export volume came at the expense of the export value. The export value amounted to €1.2 billion in this period. In the first six months of 2023, the export generated €1.3 billion.
Lower Chinese export
The results for June are weaker. The total pork meat export for that month was 107,100 tons, a decrease of 1.4% compared to the average exports of 2023, which totaled 108,600 tons. According to the ABPA, the weaker result is due to lower sales in the Chinese market. China used to account for over half of Brazil's total pork meat exports.
However, exports to the Asian country have declined as Chinese pork production has significantly increased. This has clearly impacted Brazilian pork meat exports. While China remained the largest Brazilian export market, the decline was substantial. Brazil exported a total of 127,900 tons to China. The export to Hong Kong, which is linked to China, also showed a significant decrease, totaling 51,900 tons, a 15.1% decrease.
Diversification
Despite the decline, the ABPA expects the export to end the year in a positive trend in 2024. Brazil claims to have successfully diversified its pork meat exports. The export to markets such as the Philippines and Japan increased. The export to the Philippines rose by a remarkable 65.3% to 84,200 tons. Meanwhile, the export to Japan increased by a significant 107.3% to 37,500 tons. The exports to Chile and Singapore also saw growth. Singapore's export increased by 41,400 tons, or 19.5%. The export to Chile, on the other hand, rose by 19.5% to 41,400 tons.
