Beef exports will plummet 18% in 2023

Beef exports will plummet 18% in 2023

According to the Uruguay XXI institute, the country is going to lose more than US$450 million in product sales this year.

Photo: Presidency

The Institute Uruguay XXI reported that, according to their own projections, annual beef exports will plummet 18% in 2023 with respect to 2022. This supposes, a priori, a loss of more than 459 million dollars in product sales.

According to Uruguay XXI, this year the bovine meat sector could export some 2,091 million dollarscompared to the 2,550 million dollars that it received for placements in 2022, when the billing had grown by 5% compared to the numbers of 2021.

The slowdown in purchases by Chinamain trading partner of Uruguay, has hit significantly in the placements of bovine meat and meat by-products. At the same time, USA and the European Union they also showed a drop in the trade flow, albeit to a lesser extent.

In this context, the United States and the European Union continue to establish themselves as the markets with the best prices for exports of Uruguayan goods. It is as a result of this that a lower economic impact is expected among meat by-products, since shipments have been reordered more than anything towards these destinations.

In the first five months of the year, the United States has already doubled the purchases of meat by-products it made during all of 2022. Overall, in meat by-products, a 12% drop in the exported value is estimated due to a decrease in volumes.

Total exports of goods would fall by 11% during 2023

In addition to the bad omens for bovine meat, a general drop in exports of goods of 11% is projected during this year. The Uruguayan placements would total a billing of 11.920 million dollars during 2023, compared to 13,374 million dollars in 2022.

This is mainly given by a significant drop of up to 82% in soybean sales, crop seriously affected by the effects of drought. In turn, the billing for electricity shipments would fall by 45%; those of wood 16%; vehicles 14%; plastic products 6%; other agricultural products 3%; and other general products by 2%.

At the other extreme, after the commissioning of the new plant PSU 2, a shot in pulp exports of 43% is expected. Likewise, sales of rice would grow by 21%, those of malt by 15%, pharmaceuticals by 5%, dairy products by 4%, and beverage concentrates by 3%.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts