BRAZIL – In the latest update from CEPEA, the Brazilian meat market has shown varied trends in June, with reports indicating that while both chicken and pork prices saw increases compared to the previous month, the rise was more pronounced for pork.
Conversely, beef prices experienced a decline during the same period, shifting the competitive landscape among these meats.
The average price of chicken meat rose due to heightened consumer purchasing power at the start of the month, driven by salary payments.
This increase in chicken prices has bolstered its competitiveness against pork but has diminished its comparative advantage against beef in the market.
Meanwhile, Brazil’s pork exports faced a setback in May following a record-setting April.
Despite maintaining a robust daily shipment average of 4.4 thousand tons, equivalent to the April figures, overall export volumes decreased by 7.4% month-over-month.
This decline was attributed to May having one fewer production day than April, according to Secex data.
Nevertheless, the May export volumes still reflected a modest increase of 2.7% compared to the same period last year.
In terms of revenue, May’s pork exports generated approximately BRL 1.15 billion (US$8.8M), marking a 6.7% decrease from April and a 7.5% drop from May 2023 earnings.
Despite these fluctuations, early June witnessed a resurgence in domestic sales of live pigs and pork, reversing a downward trend observed since mid-May.
On the global front, Brazil continues to assert its dominance in poultry exports, as highlighted in a recent USDA Global Agricultural Information Network report.
From 2013 to 2023, Brazil’s poultry exports expanded significantly, capturing an average 12% market share annually and achieving a record 78.5% market dominance in 2022.
This trajectory is expected to persist, further consolidating Brazil’s position as a leading player in the global poultry market.
Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. HERE
