November 5, 2008
Brazilian beef exports fell 15.4 percent on-year in October after a slight recovery in September, said Brazilian authorities.
The decline had been more or less expected due to higher global prices and reduced purchases by smaller markets, according to Luiz Carlos de Oliveira, executive director of the Brazilian Meat Exporters Association.
This movement can also be related to problems with contracts among Russian importers, which begun in October, said Oliveira.
Some companies in Brazil cannot manage to close sales, and there are cargoes halted at ports in Russia and the Netherlands awaiting resolution of the problem, he added.