December 9, 2010

Brazil's November pork export profits fall to US$115 million

Pork export earnings of Brazil went down to US$115.11 million in November, slightly dropping 0.29% from US$115.453 million on-year, the Brazilian pork export association (Abipecs) said Wednesday (Dec 8).

In volume terms, shipments fell 18.84% in the same comparison, to 43,008 tonnes. The volume drop was offset by average export prices, which rose 22.86% to US$2,677 per tonne.

Over January-November, pork export revenues totalled US$1.248 billion, up 10.14% on the same period last year. Average export prices rose 23.19% to US$2,473 per tonne. Volume, however, dropped 10.6% to 504,889 tonnes.

Russia was the main destination for Brazilian pork in the January-November period, followed by Hong Kong, Ukraine, Argentina and Angola.

Last week, Abipecs said shipments are expected to reach 561,882 tonnes this year, bringing in US$1.37 billion.