The United States dethroned China as the largest buyer of Uruguayan beef

The United States dethroned China as the largest buyer of Uruguayan beef

USA was the main destination of export of the Uruguayan beef, dethroning China for the first time since 2015, according to the latest report from the National Meat Institute (INAC).

According to data closed as of last Saturday the 18th, Uruguay made sales to the North American country for 22.83 million dollars, against 20.25 million from the Asian giant, which in recent times has been reducing its imports.

The hegemony of China in the beef market began in 2015, when it began purchasing above 40% and reached more than 65%, remaining today at its lowest volume, with a volume of 77,481 tons (41% of the total), reported Blasina and Associates.

Regarding the average paid per ton, this year it is 3,237 dollars for the Asian giant, lower than the 4,012 dollars for USA.

What is the commercial relationship with the United States like?

USA In April it was the third commercial partner of Uruguay, only surpassed by Brazil and China, concentrating 13% of total placements. According to the Uruguay XXI foreign trade report, the North American country bought for 83 million dollars, an increase of 49% year-on-year. There he stood out beef as the main exported product, with a 59% share, followed by wood and its derivatives.

In fact, if the level of sales during 2023 is analyzed towards Usmca (agreement between the US, Mexico and Canada), there was an increase of 10.5% year-on-year, with exports of meat for 120.4 million dollars, a strong increase of 137.2% compared to 2022, according to a study by the International Business Institute (INI) of the Catholic University of Uruguay (UCU).

In contrast, although it continued as a second business partner, China It reduced its placements by 22% year-on-year in April, for a total of 87 million dollars. This decrease is greater if the sales of beef, which fell 34%, largely due to a 25% year-on-year drop in prices.

Source: Ambito

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