Brazilian Beef Exports Plunge by 45 Per Cent
BRAZIL – Brazilian beef exports dropped to US$ 255.68 million in January 2009, 45 per cent less than in January 2008, reported says the Brazil Arab News Agency.
13 February 2009
1 minute read
In terms of volume, sales in January totalled 81,810 tonnes, a reduction of 34 per cent over the same period last year. The figures were disclosed today (12) by the Brazilian Beef Industry and Exporters Association (Abiec).
According to Otávio Hermont Cançado, executive director at the Abiec, part of this reduction in exports is due to the effects of the global financial crisis, which reduced the volume of credit for importers and exporters. Apart from that, according to Cançado, in January 2008 both the volume and export revenues were atypical. "At that time an embargo by the European Union was expected and many Brazilian companies anticipated their sales," he said.
Despite the negative result, the Abiec director pointed out the return to purchases by some important clients. Last month, exports to Russia, for example, rose 50 per cent - totalling 16,000 tonnes, as against 10,700 in December 2008.
TheCattleSite News Desk
