Argentina would also suffer the same fate, obtaining a drop of 3.4% in its exports, projected the USDA
Uruguayan beef exports will suffer a decrease this year, projected the Agriculture department of United States (USDA) which foresees a similar situation for Argentina, while there will be an increase in sales from Brazil due to the weakening of its competition.
The Livestock and Poultry: World Markets and Trade report published this Wednesday yields results that are not encouraging for Uruguay or Argentina, unlike Brazil, which is estimated to have year-on-year growth of 4% because its neighboring countries suffer the effects a drought extreme.
According to the report, Uruguay would be the most affected in exports. This is because the sale of beef would fall from 513,000 to 485,000 tonsrepresenting a year-on-year drop of 5%, while Argentina, with an export of 795,000 tons, would fall by 3.4%.
Brazil, for its part, will benefit from reduced competition and a weaker real, posting year-on-year growth of 4%. While, for this country, according to the report, a increase in production of 2% accompanied by an expected increase in slaughter, with calves at lower values and a firm domestic market.
Globally, according to the report of the US Department of Agriculture, it is beef stock would growgoing from 11,646 million heads to 11,740 million.
Drop in exports since February
According to a report by the government agency Uruguay XXI, the beef exports fell 21% in Februaryin relation to the levels exported in the same month of 2022, and totaled 196 million dollars compared to the 247 million dollars registered a year ago.
The reason behind the drop was once again the drop in exports to China, which had a strong impact on the contraction. In this sense, shipments to the Asian country had a year-over-year decrease of 36%and revenue from those businesses went from $147 million in February 2022 to $94 million last month.
Source: Ambito
