April 20, 2012

Brazilian beef exports plunge in March

Brazil's beef exports plunged by12% on-year, to 69,770 tonnes, contributing to a 6% fall in overall shipments during the first three months of 2012, to 187,165 tonnes.

The 12% reduction in shipments during March was driven by a significant fall in frozen shipments, which contracted 19% on-year, to 59,096 tonnes. While total frozen exports (163,268 tonnes) for the first quarter of 2012 were back 10% on the corresponding period last year, chilled shipments during March and the first quarter of the year were well above the same period in 2011. Chilled exports during March (10,673 tonnes) and the first quarter of 2012 (23,897 tonnes) surged 58% and 47% respectively, on the same time last year.

Underpinning the fall in exports during March and the first quarter of 2012 was a reduction in exports to Russia - Brazil's largest export market. Total Brazilian shipments for March reached 27,046 tonne, a 17% decline on-year. Offsetting some of the decline for the month was a significant improvement in exports to Chile (6,218 tonnes), with chilled product accounting for the majority of shipments.

Other major markets for Brazilian beef during the first quarter of 2012 included Egypt (23,833 tonnes), Hong Kong (23,215 tonnes) and Venezuela (20,547 tonnes swt).