financetom
Economy
financetom
/
Economy
/
Brazil chicken exporters enjoy less US competition, strong Mideast demand
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Brazil chicken exporters enjoy less US competition, strong Mideast demand
Jul 8, 2024 1:04 PM

SAO PAULO (Reuters) - Brazilian chicken export data indicates the outlook is positive for the remainder of 2024, meat lobby ABPA said on Monday, citing weaker competition from U.S. supplies and continued strong demand from traditional Middle East importers.

Brazil's chicken exports averaged 431,400 metric tons per month through June, 0.8% higher than the monthly average recorded for the whole of 2023, which was 428,200 tons, according to ABPA data.

The relative absence from U.S.-based chicken exporters in the market, and steady sales to countries like the United Arab Emirate and Saudi Arabia, are good signs for suppliers in Brazil, the world's largest chicken exporter, according to ABPA.

The fact that Brazil, the world's largest chicken supplier, also historically exports more in the second half of the year is also a boon.

"With a more attractive domestic market, U.S. exports are falling, which is a trend for the coming months and years," ABPA's Markets director Luis Rua said in a statement to Reuters.

He added that for Brazilian companies, this meant more export volumes destined for Latin American countries, including Mexico and Chile, allowing Brazil to reposition itself in strategic markets for products such as chicken legs and chicken breast.

By volume, Brazilian chicken exports were the best in history between April and June, ABPA said.

However, price-wise the picture is not as rosy, as Brazil's aggregate chicken export sales reached $4.636 billion in the first half, 10.3% below the $5.168 billion from the same period in 2023, according to ABPA data.

Sales to China, the top destination, have also lagged last year's level for June, slumping 29%, ABPA said.

Brazil's first-half pork exports hit a record of 613,700 tons, ABPA said in a subsequent statement. While imports by China slowed, Brazilian pork sales to Japan and the Philippines grew, marking what ABPA dubbed "a reshaping" of the country's pork exports.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
No Rate Cuts Yet, Fed Wants To See Where Tariffs Land: Here's What To Watch Wednesday
No Rate Cuts Yet, Fed Wants To See Where Tariffs Land: Here's What To Watch Wednesday
Jun 17, 2025
The Federal Reserve is widely expected to hold rates steady at 4.25%-4.50% on Wednesday as President Donald Trump's volatile tariff policy clouds the economic outlook. The decision will mark the fourth straight pause in the rate-cutting cycle that began in September. Yet, rather than the rate decision itself, the key data to watch for markets will be release of new...
US homebuilder sentiment skids to 2-1/2-year low, NAHB says
US homebuilder sentiment skids to 2-1/2-year low, NAHB says
Jun 17, 2025
(Reuters) -A gauge of U.S. homebuilder sentiment slid unexpectedly to its lowest level in two and a half years in June, with more than a third of residential construction firms cutting prices to lure buyers sidelined by high mortgage rates and economic uncertainty due to President Donald Trump's tariffs. The National Association of Home Builders/Wells Fargo Housing Market Index fell...
US manufacturing output barely rises in May
US manufacturing output barely rises in May
Jun 17, 2025
WASHINGTON (Reuters) -U.S. factory production barely rose in May as a surge in motor vehicle and aircraft output was partially offset by weakness elsewhere, and the outlook for manufacturing remains clouded by tariffs. Manufacturing output edged up 0.1% last month after a downwardly revised 0.5% decline in April, the Federal Reserve said on Tuesday. Economists polled by Reuters had forecast...
US business inventories unchanged in April
US business inventories unchanged in April
Jun 17, 2025
WASHINGTON (Reuters) -U.S. business inventories were unchanged in April amid a decline in stocks at manufacturers, suggesting inventories could be a drag on gross domestic product in the second quarter. The unchanged inventories reading followed a 0.1% gain in March, the Commerce Department's Census Bureau said on Tuesday. That was in line with economists' expectations. Inventories are a key component of...
Copyright 2023-2026 - www.financetom.com All Rights Reserved