The volume of beef exported in May 2023 was a record for the month and was the third highest in history (behind Nov ’20 and Oct ’19). Meanwhile, the value of the exported ton fell 7.1% and stood at 4,236 dollars per ton pp.
In May, the certified total was equivalent to 65.4 thousand tons of product weight (tn pp) and 91.7 thousand tons of bone-in beef (tn r/c/h). In year-on-year terms they registered an increase of 13.4% and 12.1%, respectively.
As in the previous months, the higher volume of beef exported could be explained by the increasing shipments to China. In the monthly comparison, sales to the Netherlands and Chile also increased, which were offset by the decrease in shipments to the other main destinations. In the year-on-year comparison, the increases in shipments to Israel and Germany were offset by lower sales to other destinations.
Specifically, 54,840 tn pp were exported to China in the fifth month of the year, which represented 83.9% of the total exported. The value of shipments to China was equivalent to 190.4 million dollars and represented 68.8% of the total invoiced.
The turnover for beef exports was equivalent to 277 million dollars in May 2023. In the year-on-year comparison, the fall in prices more than offset the increase in exported volume, so that revenues were 20.4% lower (- 71 million dollars).
In January-May 2023, 272.2 thousand tons pp of beef were exported, which were equivalent to 390.2 thousand tons r/c/h. Compared to the same period in 2022, shipments abroad of beef were 12.0% higher. Frozen cuts represented 85.5% of the total exported (of which 79.3% was boneless), fresh cuts another 14.2% (almost entirely boneless) and processed meats accounted for only 0.4%. .
Total billing was equivalent to 1,177.5 million dollars in the first five months of the year and was 17.7% lower than that registered in January-May last year. This contraction was fully explained by the fall in the average price (-26 .5% per year), which just began in April-May of last year and lasted until the first two months of this year. The breakdown by type of product showed that frozen meats generated 71.4% of revenue, fresh meats another 28.4%, and processed meats the remaining 0.25%.
Measured in dollars, during June the price of a live kilo decreased both in the official and free segments. While the value of the farm rose 2.0% per month in pesos, the official exchange rate in pesos rose 7.6% and that of the free dollar did the same by 6.1%. The average price of the ranch in official dollars was located at 1,375 dollars per live kilo, that is, 5.2% below the previous month, and measured in free dollars it was equivalent to 0.679 dollars per live kilo, resulting in 3.9 % lower than in May. And in the interannual comparison, the price of real estate in dollars fell 27.0% (official segment) and 31.9% (free segment).
Which are the countries with the highest shipments?
– China: 214.5 thousand tn pp of beef cuts were sent in the analyzed period, that is, 78.8% of the total exported by the Argentine beef meat industry
– Israel: In the first five months of the year, 14,987 tn pp were exported to this country (5.5% of the total), that is, 5.3% more than a year ago (+751 tn pp).
– Germany: Shipments to Germany totaled 9.9 thousand tons pp of beef in January-May 2023 (3.6% of the total). A fall of 2.6% per year was registered.
– USA: With a total export of 7,739 tn pp of beef in five months (2.8% of the total), the US remained the fourth most important destination for Argentine beef.
– Netherlands: Shipments to the Netherlands totaled 7.5 thousand tons pp in January-May 2023 (2.8% of the total) and thus became the fifth most important market.
Source: Ambito
