December 16, 2011

Meat exports' revenues in Uruguay for 2011 have reached record levels which include meat, meat products, and meat by-products at approximately US$1.650 million, as announced by Uruguay's National Meat Institute (INAC).

Revenues from beef sales have also increased to record levels, totalling approximately US$1.350 million, despite a decline in the volume of beef exports to 345,000 tonnes, down from 366,000 tonnes in 2010. Russia remains the main destination for Uruguayan meat, receiving 34% of exports. The EU is the second largest destination, with 18% of total volume and 29% of the total value. Also of note, 14% of sales went to countries party to the North American Free Trade Agreement (NAFTA), 10% to Mercosur countries, and the remainder was shared out among some 100 smaller markets including Venezuela and China.

These figures will be well received by Uruguay's agricultural and economic sectors, not least because they are indicative of an increase in the ratio of revenue per unit of meat exported. President of INAC Alfredo Fratti has predicted moderate growth in the sector in 2012. This could be brought about by a parallel strategy of maintaining high-revenue exports to destinations such as the EU while at the same time expanding volumes exported to emerging markets such as China.