November 7, 2008
Brazilian unprocessed beef exports for the period January to October 2008 totalled 904,000 tonnes swt, down 19 percent on-year.
Despite the drop in volume, total revenue rose 22 percent for the period due to a sharp increase in average FOB prices which has grown 50 percent to US$3,942 per tonne.
October exports declined 13 percent from September to 89,250 tonnes swt, and were 43-percent lower on-year. The decline was due to the global financial crisis as importers refrained from trading until economic conditions and outlook for global beef consumption clarifies. In addition, Brazilian exporters are facing difficulties in Russia regarding the renegotiation of contracts and the resumption of shipments.
Exporters are waiting for payments of previous export contracts with Russian importers before resuming trade, said the Brazilian Beef Exporters Association.
Average export prices reached a new record of US$4,417 per tonne in October, up 43 percent on-year.