CHINA

China increases its purchases of Colombian meat

At the end of the 3rd quarter of 2024, the Colombian livestock sector continues to regain ground with meat exports, while live cattle exports have stabilized. Shipments to China, which started slowly in May, have had better dynamism in the last 2 months and this country already occupies 2nd place in the destinations of Colombian meat.

Posted on Nov 17 ,00:05

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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