Rabobank predicts a new record in Brazilian beef exports in 2022. According to a report released by the bank, the volume shipped should grow 12% this year, compared to 2021.
The data show that demand for Brazilian beef is expected to remain above supply in the second half of the year.
Externally, the Brazilian product is expected to be in higher demand during the Golden Week in China in October and the Chinese New Year celebrations in early 2023.
In the domestic market, two events are expected to increase beef consumption in the coming months: the start of the social program Auxílio Brasil, which will pay BRL 600 monthly to around 20 million people and the World Cup, between November and December.
“Together, these events are expected to sustain beef and live cattle prices,” the report states.
Brazilian beef exports have already risen about 33% in the first seven months of the year, with Brazil raising its share of global beef exports to 52%, according to Rabobank.