The foreign exchange income from meat exports from Uruguay fell 25% this yearconsidering the income of some US$ 350 million less, based on data accessed by The Observerprepared by technicians from the National Meat Institute (INAC).
In the first five months of 2023 US$1,055 million were obtained, clearly below the US$1,408 million achieved in the same period of 2022.
Bovine meat, with almost 80%, leads the portfolio of meat exported from Uruguay.
Volume and value adjustments
From the beginning of January to the end of May, 245,000 tons (shipping weight) were shipped (considering all meat agro-industry products), when last year there were already 280,000 tons, therefore a decrease in volume was observed. placed of 12.5%.
At the moment, an average price of US$4,112 per ton was achieved, when in the same period of 2022 US$4,626 was averaged (with an adjustment in the case of the mean value of 11%).
Main markets
- China 49% (US$ 518 million) with a drop of 37% in 2023 compared to 2022.
- USA + Canada 20% (US$ 211 million) with an improvement of 15%.
- European Union 14% (US$ 145 million) with a drop of 15%
- Mercosur 5% (US$ 56 million) with a drop of 17%
- Israel 2% (US$ 20 million) with a drop of 40%.
The cattle slaughter in 2023 is almost 20% less than that of the same period of 2023 and reached 893 thousand heads in five months.
Beef leads with 83%
Considering exclusively beef exports (they explain 79% of the total currencies corresponding to all exported meats), revenues fell from 2022 to 2023 (always as of May 27) by 25%, already entering US$ 800 million, with a drop of 17.5% in volume, reaching 189 thousand tons (carcass weight).
The so-called Average Export Income (IMEx) for this accumulated export in the current year stands at US$4,409 per ton, clearly below the value of the same period last year (US$5,088), 13% less.
The average price has been firming up and in the last week measuredwhich closed on May 27, was located at US$ 5,036 per ton of beef.
Growing weight of the Chinese market
Based on carcass weight, always for bovine meat, China continues to be the largest client, attracting 109 thousand tons (carcass weight), 58% of the total, with a 28% decrease in demand so far in 2023 compared to the same period in 2022.
In the rest of the podium of the key destinations appear the United States + Canada with 39 thousand tons, 21% of the total, with a growth in this case of 14%; and the European Union, which had a drop of 2% (17 thousand tons, 9% of the total).
