Brazil raw beef exports show signs of recovering

Brazilian raw beef exports are showing signs of recovery, as Brazil exported 132,000 tonnes of raw beef in June, according to figures by the Brazilian Beef Industry and Exporters Association (ABIEC).

That figure was a nine-percent increase from the same period in 2008.

Sales revenue was also decreasing less than they did last year. In the first quarter, the rate was 34 percent, in the first half it was 29 percent, and in June it was 14 percent.

ABIEC executive director, Otavo Cancado, said the worst of the financial crisis is over, with the supply of export credit back to normal and markets are heating up again.

The performance of Brazilian beef exports suffered during the global economic slowdown when at its peak also saw the sharp decline of the US dollar and average beef prices fell about 14 percent.

Russia is the largest buyer, importing 237,000 tonnes of Brazilian raw beef valued at US$410 million in the first half of 2009.

Hong Kong, Egypt and Algeria are the next largest buyers, in that respective order.

The Chilean market represents hope for increasing exports in the second half. Chile had imposed an embargo on Brazilian beef in October 2005, but authorised exports from certain Brazilian slaughterhouses in April this year.