February 13, 2009
Global recession sinks January Brazilian beef exports by 35 percent
Beef shipments by Brazil sank by 35 percent in January on-year due to the global meltdown.
The Brazilian Beef Exporters Association reports that the nation's shipments were at 81.8 million tonnes (90.2 million US tonnes, down from 124.7 million tonnes (137.5 US tonnes) for January 2008.
Association executive director Otavio Cancado blames the frozen credit for international beef buyers for the drop. However, Cancado believes global consumer demand has not declined.
By value, Brazil's beef exports in US$255.7 million in January, also posting a 45 percent decline from the same month last year.
