Weaker Currency Boosts Brazilian Beef Exports
BRAZIL - Brazilian beef exports during September increased 13 per cent on the previous month, to 74,170 tonnes swt - assisted by the depreciation of the Brazilian real, lower cattle prices and increased demand from Russia, reports Meat and Livestock Australia (MLA).
7 October 2011
1 minute read
However, total shipments for the first nine months of the year were still 20 per cent below the same period in 2010, at 609,897 tonnes swt, as the very strong Brazilian domestic market has been particularly attractive, luring product away from export markets.
MLA states that a 13 per cent decline in the value of the Brazilian real (against the US$) throughout September assisted export demand for Brazilian beef. Exports to Russia jumped 67 per cent on the previous month to 20,276 tonnes swt, with Russian importers reportedly keen to fully utilise their import quotas before early November.
Although Brazilian exports to Chile for September declined 42 per cent month-on-month, demand increased late in the month after Chile banned imports from Paraguay (Chile's main beef supplier) following its foot and mouth disease outbreak.
While Brazilian cattle prices eased somewhat in September, prices are still expected to remain at historically high levels for the remainder of 2011, albeit not at the records of October and November 2010.
TheCattleSite News Desk
