Mercosur beef exports are expected to increase
A report issued by Argentina's Rosario Stock Exchange (BCR) and the Mercado Ganadero Department (Rosgan), world beef production will reach 58 million tons, representing a 1% increase over 2021 and China is expected to increase its beef imports. That could by great news for Mercosur countries, as all four of them are playing an important role in the global beef market.
However, a ban on certain beef cuts exports put in place by the Argentinian government until the end of 2023 may limit the industry's performance for the period. The Brazilian and Argentine beef markets had an unusual year in 2021. Traditional animal protein producers, the two countries witnessed declines in their exports, particularly in the last months of the year. Overall compared to 2020, Brazil beef sales dropped 9,92% while Argentine exports decreased 13,84%.
The reduction experienced by Brazil can be explained by the beef embargo imposed by China. In effect on September 2021, Brazil voluntarily suspended exports to China after the identification of two cases of mad cow disease in the country. As a result, Mercosur member Uruguay strongly benefitted and saw beef shipments increase 35%. The same increase in beef exports was reported by Paraguay, which also experienced a record year of beef exports in 2021. China's beef imports are expected to surpass 2 million tonnes this year and all Mercosur countries are present in the Chinese beef markets.
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