Brazil set a new record for beef exports in 2024, sending 2.874m tonnes to other markets. As figure 1 shows, this is third year in succession that Brazil has set a new beef export record, and the year-on-year growth of 583,383 tonnes is the highest annual increase ever recorded by Brazil. To put the size of this increase in context, it is greater than the total volume of beef exported by Ireland in 2024!
At just under 3m tonnes, Brazil exports almost twice as much beef as Australia, the worlds second largest beef exporter who also set a new export record in 2024 at xxxx tonnes. As figure 1 shows, Brazilan beef exports have been on an upward trajectory over this century. Before the year 2000, Brazil were exporting less than 500,000 tonnes and it was in 2004 that they passed 1m tonnes of beef exports, with 2m tonnes passed for the first time in 2020 and every year except one since then. A 3m tonne annual export volume appears in sight though there is a view that volumes of cattle may not be available to the same extent this year and export volumes could dip as a result.
Value
As well as volume growth, the value of Brazilian beef exports also set a new record last year at $12.8bn (€12.3bn). However, this total value masks the fact that the value per tonne of $4,467 (€4,295) was the lowest since 2020, and $138 (€132) per tonne lower than in 2023. Brazil cattle prices were among the lowest of any major beef exporting country for much of 2024 though they did increase significantly towards the end of the year.
Markets
The growth in Brazil’s beef export volumes in 2024 reflects a remarkable capacity by the country to grow output to the extent that it now exports twice as much beef as the second largest exporter. Historically Brazil’s beef exports targeted Europe but the growth in demand from China over the past decade has meant a switch in market focus.
Embrapa Cerrado Research Centre in Brazil.
In 2024, Brazil exported 1.3m tonnes of beef to mainland China with a further 117,000 tonnes to Hong Kong with just under 110,000 tonnes going to the European Union. Brazil have also built a major export market in the US over recent years and it grew to be their second most important market in 2024 taking just under 230,000 tonnes of beef, most of which was out of tariff and had to pay a 26.4% import duty. Recently US farmers have been lobbying for this import tariff duty to be increased, something that is very possible under the Trump Presidency.
Comment
Irish beef exports to both China and the US have never really got off the ground and Brazil’s success in these markets has therefore had negligible direct impact. In fact the opposite has been the case, such has the opportunity been in these markets for Brazil’s exporters that their interest in the EU market has reduced. Of course no markets arrangements are fixed forever and if the Mercosur trade deal comes into force, then the EU could one again become an attractive option.
Read more
MEPs ask Commissioners to consider impact of Mercosur on Ireland
Low supply and High demand positive news for world beef markets
Brazil sets pace for global beef exports in 2024
Brazil set a new record for beef exports in 2024, sending 2.874m tonnes to other markets. As figure 1 shows, this is third year in succession that Brazil has set a new beef export record, and the year-on-year growth of 583,383 tonnes is the highest annual increase ever recorded by Brazil. To put the size of this increase in context, it is greater than the total volume of beef exported by Ireland in 2024!
At just under 3m tonnes, Brazil exports almost twice as much beef as Australia, the worlds second largest beef exporter who also set a new export record in 2024 at xxxx tonnes. As figure 1 shows, Brazilan beef exports have been on an upward trajectory over this century. Before the year 2000, Brazil were exporting less than 500,000 tonnes and it was in 2004 that they passed 1m tonnes of beef exports, with 2m tonnes passed for the first time in 2020 and every year except one since then. A 3m tonne annual export volume appears in sight though there is a view that volumes of cattle may not be available to the same extent this year and export volumes could dip as a result.
Value
As well as volume growth, the value of Brazilian beef exports also set a new record last year at $12.8bn (€12.3bn). However, this total value masks the fact that the value per tonne of $4,467 (€4,295) was the lowest since 2020, and $138 (€132) per tonne lower than in 2023. Brazil cattle prices were among the lowest of any major beef exporting country for much of 2024 though they did increase significantly towards the end of the year.
Markets
The growth in Brazil’s beef export volumes in 2024 reflects a remarkable capacity by the country to grow output to the extent that it now exports twice as much beef as the second largest exporter. Historically Brazil’s beef exports targeted Europe but the growth in demand from China over the past decade has meant a switch in market focus.
Embrapa Cerrado Research Centre in Brazil.
In 2024, Brazil exported 1.3m tonnes of beef to mainland China with a further 117,000 tonnes to Hong Kong with just under 110,000 tonnes going to the European Union. Brazil have also built a major export market in the US over recent years and it grew to be their second most important market in 2024 taking just under 230,000 tonnes of beef, most of which was out of tariff and had to pay a 26.4% import duty. Recently US farmers have been lobbying for this import tariff duty to be increased, something that is very possible under the Trump Presidency.
Comment
Irish beef exports to both China and the US have never really got off the ground and Brazil’s success in these markets has therefore had negligible direct impact. In fact the opposite has been the case, such has the opportunity been in these markets for Brazil’s exporters that their interest in the EU market has reduced. Of course no markets arrangements are fixed forever and if the Mercosur trade deal comes into force, then the EU could one again become an attractive option.
Read more
MEPs ask Commissioners to consider impact of Mercosur on Ireland
Low supply and High demand positive news for world beef markets
Brazil sets pace for global beef exports in 2024
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