The US is consolidating its position as the main customer for Uruguayan meat
It was the second month this year in which the US surpassed China in volume. But in terms of revenue amounts, the US has remained above China for the past five months without interruption, in a trend that has been deepening. The price paid by the US is higher than that of the Chinese market; more than US$ 4,000 is the US average compared to just over US$ 3,200 in China.
In the last five months, the North American market USMCA (94% USA, with minor shares from Canada and Mexico) accounted for 34% of foreign currency from beef exports, compared to 26% from China and 18% from the European Union.
In the 2024 fiscal year, beef export revenues to North America amount to US$482 million, China US$446 million and the European Union US$253 million.
Between January and September, exports to China fell 28% in volume compared to 2023, from 194,000 to 138,000 tons. Shipments to the US, on the other hand, increased 69% from 66,000 to 111,000 tons.
Other destinations that are growing are the European Union (+19%); Israel (+125%), Russia (almost 1,100%, from 1,088 to 11,479 tons); the United Kingdom (+54%); Japan (+34%) and Brazil (+22%).
According to INAC, exports to all markets totaled 364,493 units as of September 28, 5.7% more than a year ago.
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