Brazil: Beef Market 2024

Beef Market Size in Brazil

The Brazilian beef market stood at $X in 2021, leveling off at the previous year. Overall, consumption recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the market value increased by 4.5%. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Beef Production in Brazil

In value terms, beef production declined slightly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 7.1%. Beef production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

In 2021, the average yield of beef (cattle meat) in Brazil expanded rapidly to X kg per head, picking up by 5.4% against the year before. Over the period under review, the yield indicated perceptible growth from 2012 to 2021: its figure increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, beef yield increased by +52.0% against 2012 indices. The most prominent rate of growth was recorded in 2017 with an increase of 25%. The beef yield peaked in 2021 and is expected to retain growth in the immediate term.

In 2021, the number of animals slaughtered for beef production in Brazil shrank to X heads, falling by -7.3% on 2020. Overall, the number of producing animals showed a noticeable slump. The most prominent rate of growth was recorded in 2018 with an increase of 3.8%. The number of animals slaughtered for beef production peaked at X heads in 2013; however, from 2014 to 2021, producing animals remained at a lower figure.

Beef Exports

Exports from Brazil

In 2021, shipments abroad of beef (cattle meat) decreased by -9.5% to X tons for the first time since 2016, thus ending a four-year rising trend. Over the period under review, total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 25% against the previous year. The exports peaked at X tons in 2020, and then reduced in the following year.

In value terms, beef exports amounted to $X in 2021. In general, total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +83.4% against 2016 indices. The growth pace was the most rapid in 2019 when exports increased by 20%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

China (X tons) was the main destination for beef exports from Brazil, with a 46% share of total exports. Moreover, beef exports to China exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), fivefold. Chile (X tons) ranked third in terms of total exports with a 7.1% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled +52.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+3.2% per year) and Chile (+6.0% per year).

In value terms, China ($X) remains the key foreign market for beef (cattle meat) exports from Brazil, comprising 49% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 7.4% share of total exports. It was followed by Chile, with a 7.1% share.

From 2012 to 2021, the average annual growth rate of value to China stood at +55.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+3.4% per year) and Chile (+4.6% per year).

Export Prices by Country

The average beef export price stood at $X per ton in 2021, rising by 18% against the previous year. In general, the export price saw a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Saint Lucia (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Beef Imports

Imports into Brazil

In 2021, purchases abroad of beef (cattle meat) increased by 26% to X tons, rising for the second consecutive year after three years of decline. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 39% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, beef imports soared to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 40% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Paraguay (X tons) constituted the largest supplier of beef to Brazil, accounting for a 66% share of total imports. Moreover, beef imports from Paraguay exceeded the figures recorded by the second-largest supplier, Argentina (X tons), fourfold. The third position in this ranking was held by Uruguay (X tons), with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from Paraguay amounted to +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+0.4% per year) and Uruguay (-7.1% per year).

In value terms, Paraguay ($X) constituted the largest supplier of beef (cattle meat) to Brazil, comprising 53% of total imports. The second position in the ranking was taken by Argentina ($X), with a 22% share of total imports. It was followed by Uruguay, with a 21% share.

From 2012 to 2021, the average annual growth rate of value from Paraguay stood at +3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (-4.0% per year) and Uruguay (-3.5% per year).

Import Prices by Country

The average beef import price stood at $X per ton in 2021, picking up by 8.5% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 25%. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Australia ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uruguay (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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