South American beef producers are having a tremendous start of the year
South American beef exports have continued to expand in the first two months of 2019, with Argentina and Brazil as main players in the global beef market, says the latest report from Meat and Livestock Australia and Steiner Consulting.
During last year, Argentinian beef exports have increased by 74%, followed by Brazil (12%) and Uruguay (7%).
47% of the beef exported from Brazil, Argentina, Uruguay and Paraguay went to the Asian markets, with China as the main destination. Even this year, China represents the main market for South American beef producers. Over January and February, Argentina reported an increase of 100% for beef exports to China. Exports from Uruguay contracted 10% year-on-year amid tight supplies but shipments to China lifted 18%.
In the same period, Brazil reported an increase of 10% in beef exports but that came after resuming trade with Russia and increasing the volume of beef sent to UAE, Saudi Arabia and Turkey, shows the report.
According to the report, Argentina and Brazil still have the capacity to ramp up beef exports in 2019, as weak currencies and the poor-performing economies draw product away from the domestic market and into export markets.
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