The country absorbed part of the drop in exports from the neighboring country and reached a turnover of US$89.4 million in the first 3 months of the year.
In the first quarter of the year, Uruguay surpassed Brazil in beef exports to USA. At the same time that sales from the South American giant to the North American country plummeted, Uruguayan sales grew almost to the same extent, which represents an important opportunity for the country in that market.
If one takes into account that the Brazilian economy is considerably larger than the Uruguayan, this is a fact that represents an enormous opportunity that is opening up for the country.
Between January and March, the United States reduced its imports of beef from Brazil in a 16.9% year-over-year 69,799 tons in the same period from 2022 to 57,990 tonsaccording to Brazilian Association of Refrigerators (Abrafrigo).
In that same period, Uruguay increased its sales to the North American country by a 19.7%, according to the data of the National Meat Institute (INAC)which reported an increase of 17,281 tons to 21,294 tons until April 10.
In terms of billing, Brazil’s income from sales of this product fell from $365.6 million in the first quarter of 2022 to $254.5 million this year, a 30% less. In that period, Uruguay placed sales to that country for $89.4 million.
Drop in exports since February
According to a report by the government agency Uruguay XXI, the beef exports in general 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
