December 9, 2008

 

Brazil's pork exports fall 49 percent on-year in November
  
 
Brazil's pork exports plunged 48.6 percent on-year in November due to a series of unfortunate events.
 

Pork exports reached only 27,470 tonnes, while revenue fell 37 percent on-year to US$78.27 million, according to the Brazilian Pork Packaging and Export Association (Abipecs).

 

From January to November, shipments decreased 8.31 percent in volume to 498,340 tonnes, but increased 30.66 percent in value to US$1.4 billion.

 

The fall in November exports was due to the credit crunch caused by the financial crisis, said Abipecs. Exports were also hit by the interruption in the port of Itajai in the southern state of Santa Catarina because of heavy rains and flood.

 

Last year, Itajai handled 55 percent of Brazil's pork exports. Exporters are now diverting shipments to Paranagua, Rio Grande, and Santos, located in the states of Parana, Rio Grande do Sul, and Sao Paulo, respectively.

 

Russia was the largest Brazilian pork importer in November, but its import volume plunged 56.6 percent to 10,250 tonnes, while revenue fell 48.3 percent to US$32.5 million.

 

Hong Kong was the second largest buyer, but import volume also fell 34.2 percent while revenue shrunk by 15 percent.

 

In the 12 months that ended in November, Brazil shipped 561,340 tonnes of pork at US$1.56 billion, down 4.44 percent in volume but up 34.68 percent in revenue.