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Brazil’s beef exports to China trend upward for March

30 March 2020

China has resumed importing high quantities of Brazilian meat after slowing imports during the first two months of 2020.

According to reporting from Reuters, an industry source says that, “The Chinese have started buying again with more intensity. “

The source works for a large meat exporter and asked not to be named in order to discuss the situation freely.

"The prices are not the same as at the end of last year, but they are still good prices, and the exchange rate helps a lot," the source added.

Brazil's currency, the Real, has fallen more than 25 percent so far this year against the dollar. Bigger purchases from China would boost Brazil's largest meat packers, such as Marfrig Global Foods, JBS and Minerva SA.

Cesar de Castro Alves, a consultant at Itau BBA, said exports to China have risen lately, even though those trends have not yet been captured by the export data released so far.

China will need some 2.9 million tonnes of beef this year, Alves said, to compensate for animals infected with African swine fever.

Gustavo Machado, from the consultancy Agrifatto, said prices paid by China had more than doubled since last year.

Read more about this story here.


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