Brazil is expected to increase its share in global beef exports in 2023, according to a report by the United States Department of Agriculture (USDA).
External sales by Brazilian companies should grow 3.5% over 2022, when they totaled 2.345 million tons. Global beef exports, meanwhile, will rise just 0.5%, to 12.2 million.
“Australia and Brazil are expected to gain market share due to lower exportable supplies in the United States, Uruguay, and Argentina”, states the report.
China, the world’s biggest beef importer, is expected to increase purchases to 3.52 million tons in 2023, according to the USDA. The projection represents an increase from the previous estimate of 2.85 million, released in October.
The report also foresees that the projected economic recovery, as well as the anticipated revival of the hotel, restaurant, and institutional (HRI) sector, should support expanding consumption and red meat imports.