Brazilian pork exports are more evenly distributed among various destinations this year, with reduced sales to China and increased shipments to other Asian countries, according to data released by the Brazilian Animal Protein Association (ABPA).
“The pace of exports continues positively in parallel to the record achieved in 2023. Asia and the Americas remain the ‘engine’ of the sector’s international sales, though with changes in the board of key importers,” said ABPA president Ricardo Santin. “We expect results equivalent to or better than last year, but with a greater presence in other destinations.”
Brazil exported 506.6 thousand tons of pork in the first five months of 2024, a 5.3% increase year-on-year. Revenue generated from shipments decreased by 7.3% to $1.06 billion.
China, the main destination for Brazilian pork, bought 111.4 thousand tons of the product between January and May, 36.7% less than in the same period last year. Hong Kong also reduced purchases by 16.2% to 43 thousand tons.
Meanwhile, the Philippines imported 70.2 thousand tons, an 84.8% increase year-on-year. Chile increased purchases by 25.7% to 43.01 thousand tons. Singapore imported 32.3 thousand tons, an 11.2% increase year-on-year, and Japan increased purchases by 92.8% to 27.4 thousand tons.
“The flow of exports to Asia is taking on new contours, with notable growth in sales to the Philippines, Singapore, and Japan, offsetting declines in Chinese imports and expanding the reach of Brazilian exports. At the same time, we see an old partner of Brazil, Russia, resuming imports of the product,” said ABPA Markets Director Luis Rua.
Great results in June
Brazilian exports of fresh, chilled, or frozen pork showed significant progress through the second week of June 2024, according to data from the Federal Government’s Foreign Trade Secretariat (Secex). In just 10 business days, the volume exported surpassed 49% of the total shipped in the entire month of June last year.
So far, Brazil has exported 47,708.525 tons of pork, which represents 49.17% of the 97,021.569 tons recorded in June 2023. In terms of revenue, shipments so far have generated $111.916.883, equivalent to 45.13% of the total earned in June last year, which was $247.979.787.
The data indicates a positive scenario for Brazilian pork exports, with significant increases in both volume and revenue compared to previous periods. Despite the decrease in price per ton compared to last year, the recovery observed in the last week suggests a trend towards stabilization and possible price appreciation, as reported by Agro 2 website.