In a year where it is expected that the Asian giant will demand up to 7% more animal protein, Uruguay could face new pressures in the market.
As of the second half of last year, Bolivia began to steadily increase the tonnage of beef exported to the People’s Republic of Chinaplacing some 9,600 tons of frozen meat with bone in November, a figure close to 9,747 tons that it placed that month New Zealand and the 11,133 of USA.
Bolivia began to experience abrupt growth in its annual beef exports when it broke into the Chinese market in 2019. In that year, exports to China They accounted for almost half of shipments and brought the South American country some 10.7 million dollars. In 2022, sales to the Asian nation alone will exceed $104 million, and the numbers do not stop growing.
For its part, Brazilmain seller of meat to Chinaalso plans to increase its placements this year, since the Asian country is expected to demand up to 7% more animal protein than in 2023, so Uruguay could face even more pressures in this important market for the country.
Brazil expects its exports to grow up to 3%
Brazil estimates that its sales of beef Foreign markets will grow between 2% and 3% thanks to Chinese stimulus. Between January and November of last year, the neighbor of Uruguay exported a whopping 2.3 million tons, according to the Brazilian Refrigerator Association (Abrafrigo).
The star product of Uruguay is facing an uncertain outlook in 2024, since although the sector expects an improvement, the beef It collapsed by 15% in prices (averaging $4,201 per ton) and 4% in volumes during 2023, something that had a strong impact on the total turnover of national exports falling by up to 13% year-on-year.
Source: Ambito
