Global beef exports in 2023 forecast down 1% - GAIN report
Lower import demand cited as the cause
17 October 2022
1 minute read
By: Global beef exports in 2023 are forecast down 1% due to lower import demand, particularly in China, according to the most recent USDA-FAS GAIN report.
Nevertheless, lower total exports from North America and India are expected to benefit Australia and Brazil.
Reduced North America competition in East Asia and rebounding Australia production will allow Australia to boost its shipments and increase market share.
Meanwhile, Brazil exports are forecast record high as aggregate exports from its main competitors (Argentina, Paraguay, Uruguay, and India) are expected to fall 3%. Smaller cattle inventories are expected to weigh on the exportable supplies of Argentina, Paraguay, and Uruguay.
As for India, exports are expected to be unchanged from 2022 with limited growth to a number of markets.
