China increases its purchases of Colombian meat
As of September 2024, Colombia has exported a total of 153,649 heads of cattle, with a FOB value of US$119.1 million. As for meat, exports have reached 14,957 tons, with a FOB value of US$60.8 million, according to figures from the National Administrative Department of Statistics and compiled by the Office of Planning and Economic Studies of Fedegán.
Compared to the January-September 2023 period, the volume of cattle exported decreased by 19.8% to 191,641 tons, while the value fell by 20.2% to USD 149.2 million. Meat shipments, meanwhile, fell by 18.8% year-on-year to 22,301 tons, while revenues fell by 19.6% to USD 87.4 million.
The month of September was one of contrasts for the sector: while the shipment of animals had its lowest record of the year, with just 17 specimens sent to Venezuela for USD 257,230, meat exports exceeded 3,000 tons per month for the first time in 2024, reaching 3,689 t and recording revenues of more than USD 15 million.
The last time a similar number of tons was traded was in February 2023 (3,673 t) but the value was lower, at 14.6 million. To see revenues above 15 million dollars, you have to go back to November 2022 with 16.2 million. The average cost per ton at that time was higher, since throughout 2022 it stood at USD 4,431. For this year, it is USD 3,878.
The breakdown of the countries that imported Colombian cattle is the same as in August, with the only difference being the purchase from Venezuela. Thus, Iraq remains the leader with 80,576 heads for FOB USD 66.8 million (56.1%), followed by Egypt with 54,152 for USD 37.3 million (31.3%), Saudi Arabia with 14,748 heads (FOB USD 11.5 million, 9.7%), Jordan with 3,953 animals (FOB USD 2.8 million, 2.4%) and Venezuela with 220 (USD 619,130, 0.5%).
Regarding meat, although Russia continues to be the main buyer with 9,368 tons for USD 35.6 million (58.6%) , the news is that China replaced Chile as the second destination for Colombian protein, reaching 2,123 t for USD 8.9 million (14.7%) .
The South American country is now third with 1,213 tons for nearly USD 6 million (9.8%), followed by El Salvador with 721 for almost USD 4 million (6.5%). Other destinations, including Curacao , Hong Kong , Egypt , Iraq , Libya and Saudi Arabia , complete the list with 1,533 tons for nearly USD 6.3 million (10.3%).
According to Oscar Cubillos, head of the Office of Planning and Economic Studies at Fedegán-FNG , "China opened the market in October last year and the first shipment was made last May, but it was not so constant at first. By August we were already at 1,000 tons and look how it shot up in September, reaching 2,100".
Cubillos points out that this recovery is due in part to the reactivation of the Chinese economy, which was slowing down, which had reduced both prices and consumption. In addition, some suppliers such as Argentina, Brazil and Uruguay sought other markets that offered higher prices, which encouraged China to increase its purchases of Colombian meat.
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