Brazil and Australia reached new record highs in beef exports in July, amid a growth in demand for the product, which is also starting to drive protein prices up.
Brazil registered a 21.6% increase in exported volume compared to the previous month, according to data released by the Ministry of Development, Industry, Commerce and Services (MDIC). A total of 267,668 tons were exported, compared to 220,183 tons in June.
Exports revenue in July reached USD 1.146 billion, placing the result among the top 10 monthly revenues in the history of the country’s exports, a growth of 20.3%, compared to USD 952 million the previous month.
According to the Brazilian Association of Meat Exporting Industries (Abiec), the increase was driven by the higher volume shipped to China, with 123,400 tons and revenue of USD 537.68 million – the largest amount since September 2023.
Exports in July also increased to the United Arab Emirates (11,145 tons, a growth of 18.6% during the period), the Philippines (12,462 tons, +49.3%), Russia (11,259 tons, +67.5%), and Hong Kong (11,453 tons, +23.5%). Additionally, approximately 2,000 tons of Brazilian beef were shipped to Indonesia in July, the largest volume since August 2022.
“The volumes grew thanks to the sector’s efforts in seeking opportunities in markets that were already open and adjustments in the product mix, but the exchange rate favorable to exports also contributed,” says Abiec president Antônio Jorge Camardelli.
As for Australia, shipments to all markets reached 129,998 tons last month, a 22% increase over June this year, and 34% compared to last July.
The United States continues to shine as the main customer of Australian protein in terms of volume, with 38,540 tons acquired in July – an increase of 34% over the volume in June and 61% more than in July of the previous year.
Rising prices
Global beef prices rose in July, as did chicken and lamb prices, driven by strong export demand, according to the Food and Agriculture Organization (FAO) of the United Nations. The FAO’s global meat price index rose 1.2% in July compared to June, reaching 119.5 points, and was 0.8% higher than recorded in July of last year.
In addition to increased demand, beef and lamb prices were driven by the seasonal reduction in the supply of animals for slaughter in Oceania.
Chicken meat prices increased due to strong import demand, especially from the Near East and North Africa, amid production challenges stemming from animal diseases, particularly avian flu outbreaks, in several producing regions.
On the other hand, pork prices fell marginally, reflecting excess supply in Western Europe due to weaker domestic and external demand. The opening of an anti-dumping investigation by China and continued restrictions on access to foreign markets due to African swine fever outbreaks also impacted prices.