October 5, 2011

South American beef exports to decline significantly

As the majority of the major exporting regions tighten beef supplies, Brazil, Argentina and Uruguay's beef exports are expected to decrease by 13% this year.

The latest analysis of global markets by Bord Bia has identified lower volumes of beef for export not only in South America but also within Europe.

Strong export volumes to Russia and Turkey, which took a combined 143,000 tonnes in the first half of this year, have provided a new outlet for European beef.

"This, together with some tightening in supplies across a number of EU member states and a 14% fall in EU imports, is helping to offset the ongoing slow consumer demand for beef across Europe," said Peter Duggan, of Bord Bia's strategic information service.

Duggan added that global beef prices have continued to increase, with prices so far this year rising by 11-26% in Uruguay, Argentina, Brazil, Australia and the US.