April 9, 2009

Brazil's beef exports increased 24 percent from February to 82,139 tonnes swt in March.

 

The figure was down three percent from March 2008 exports, but it marks a slow but continuous recovery of Brazil's beef trade as importers replenish stocks following a trade slump since the third quarter of 2008.

 

The recovery was attributed to the devaluating Brazilian real, and customers are benefiting from the lower real with average FOB prices in March being 12-percent lower from a year ago in US dollar terms at US$2,844 per tonne.

 

Unprocessed beef exports are expected to remain low during the first half of 2009, but volumes are projected to increase during the second half, according to the Brazilian Beef Exporters Association.

 

Exports during the second half could exceed 2008 volumes but total revenues could be lower as a result of the slump in export prices in US dollar terms and the lower total volumes for 2009.

 

The CIS remains Brazil's main export market, accounting for 36 percent of total exports during the first quarter of 2009, followed by the Middle East with 20 percent and Africa with 16 percent of the total.