Economy & Business - July 2024

BRAZIL | Record for beef exports. Brazil exported a record amount of beef in the first half of this year according to figures from the ministry for development, trade and commerce, compiled and released by the Brazilian association of meat exporters (Abiec) on 5 July. In total, the South American country exported 1.29m tonnes (t) between January and June 2024, a 27.3% increase compared with the same period in 2023. The total export value reached a record US$5.69bn, up 17% year-on-year. Over 50% of Brazilian beef exports are destined to the Asian market, with China the top buyer. According to Abiec, exports to China grew 10% in volume to 565,654 t in the first six months of the year, for a value of US$2.5bn. The next largest importers are the United Arab Emirates (95,000 t, up 238% year-on-year) and the US (85,395 t, up 19.7% on 2023). The Abiec president, Antonio Jorge Camadelli, highlighted Brazil’s efforts to enter new markets. “Brazilian beef is currently present in 158 markets, but we still have space to penetrate countries like Japan, South Korea, Vietnam, and Turkey, which represent about 25% of global demand for beef,” he said.

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