Brazil beef consumption expected to rise - Cepea
Rising income, domestic supply driving purchases
7 August 2024
1 minute read
By: The income of Brazilians has been increasing along with perspectives of beef consumption, according to a recent market report from Cepea. According to estimates of the USDA, beef consumption in Brazil may rise 4% over last year, influenced by increased income and domestic supply.
Data from the IBGE indicate an increase of 2.5% of the real income in Brazil in the period March-April-May against the last period of 2023. According to Cepea calculations, the 1% income rise boosts consumption of high-quality beef by 0.7%
Another aspect that has been favouring consumption this year is the price reduction of cuts due to increased animal supply.
According to data from Secex, 1.14 million tons of in natura beef were shipped in the first semester, 29% more than in the same period last year.
In the partial of July, daily shipments are at 10.781 thousand tons, totalling 215.61 thousand tons, a record considering that there are some days left for the end of the month and that it is the in natura product.
The volume is likely to surpass 240 thousand tons.
