The role of beef in Brazil’s agribusiness exports has been steadily increasing, with countries like China, the United Arab Emirates, Saudi Arabia, the United States, and Egypt driving the rise in export volumes.
Between January and July, Brazilian beef exports surged by 32% compared to the same period in 2023. However, revenue in dollars grew by only 21%, primarily due to an 8% drop in average prices, as per Secex data.
China’s demand for Brazilian beef has lessened this year. From 2019 to 2023, the country’s purchases increased by 271% in volume. In the first half of 2024 (through July), China’s demand rose by just 13%, though it still accounted for 49.8% of Brazil’s in natura beef exports. Despite this growth, prices in dollars fell by 12%, according to Secex.
Other key markets include the United Arab Emirates, Saudi Arabia, and Egypt. Secex reports that these nations collectively accounted for 13% of Brazil’s in natura beef exports this year, a significant 83% jump from the same period in 2023.
As for the United States, it purchased 6% of Brazil’s total beef exports in 2024, marking a 54% increase compared to the previous year.
