Brazil pork exports slump in March – Cepea

After registering good performance in February, the volume of pork meat exported by Brazil and the revenue obtained with sales to the international market dropped significantly in March and they are the lowest since February 2023, according to a recent market report from Cepea.

According to data from Secex, Brazil shipped 90.7 thousand tons of pork meat in March, 6.3% less than in February/24 and 14.3% below the volume verified in March 2023. Still, in the first quarter of this year, exports totaled 286 thousand tons, 5.3% more compared to the same period last year and a record for the period, considering Secex series, which has started in 1997.

The revenue, in turn, amounted BRL 953.2 million in March 2024, downing 6% in relation to February and 25.9% against March/23. In the first quarter of this year, Brazilian exporters received BRL 2.9 billion, for a decrease of 11.8% compared to that registered in the same period of 2023.

The lower volume shipped in March is linked to the demand decrease from major importers in Asia, such as China (-26.6% from February to March) and Singapore (-22.9%). Mexico also reduced its demand from Brazil. After finishing 2023 among the 11 biggest importers of the Brazilian pork meat, the country purchased only 25 tons in the first quarter of 2024.

Tags: demand, export, Brazil, Market, pork meat