December 14, 2010

Brazil's 2010 beef export revenue forecast cut by US$1 million

The Brazilian Beef Exporters Association (Abiec) said Monday (Dec 13) it has revised down its 2010 beef export revenue estimate to US$4.9 billion, previously from US$5 billion.

The revision was due to holidays in November, which cut six business days from the month.

In volume terms, beef exports are expected to reach 1.64 million tonnes.

In 2009, beef export revenue totalled US$4.12 billion, with volume at 1.924 million tonnes.

Antonio Jorge Camardelli, Abiec president, said export revenue should reach US$5.3 billion to US$5.5 billion in 2011.

Abiec also said that beef exports stood at US$328.03 million in November, down 11% on the same month last year. In volume, exports fell 32% to 98,510 tonnes, while the average export price rose 26% to US$4,461 per tonnes

Over January to November, export revenue amounted to US$4.434 billion, up 19% on the year, while volume dropped 2% to 1.593 million tonnes. The average export price increased 17% to US$3,856 per tonnes