January 15, 2009
Brazil to export less beef to Russia this year
Brazil will see the Russian beef market shrink further this year because of the global credit crunch, said Brazil's beef exporters' association (Abiec).
Last year, Russia accounted for 40 percent of Brazil's beef exports, but it could fall to only 20 percent in 2009, said Abiec president Roberto Giannetti da Fonseca.
However, more Brazilian beef will be shipped to Chile and the EU. Chile could potentially import 80,000 tonnes of Brazilian beef this year, while the EU could increase its imports to 180,000-200,000 tonnes from 100,000 tonnes last year.
The increased shipments to Chile and EU will stabilise Brazil's beef exports in 2009, bringing in US$5.3 billion in revenue for 1.45 million tonnes, said Da Fonseca.
Brazil's beef exports to Russia last year had suffered from the credit crunch, and many Russian importers had either cancelled their orders or tried to renegotiate contracts.
