The Brazilian Frozen Food Association (Abrafrigo) announced on the 13th that beef exports remained stable from January to October, but exports significantly decreased.

According to the Brazilian website Forbes, Abrafrigo pointed out that in the first 10 months, the cumulative growth rate of Brazilian beef exports did not exceed 1%, reaching around 2 million tons. However, due to the price drop, the export value of beef has significantly decreased.

Abrafrigo stated in a report, "Since the beginning of this year, the downward trend in beef prices in the international market has been intensifying, with a sustained impact on the export trade revenue of Brazilian beef (fresh beef and processed meat)." The agency also pointed out that China remained the largest importer of Brazilian beef in the first 10 months.

As the world's largest beef exporter, Brazil's total beef export revenue decreased by 23% year-on-year from January to October, dropping to $8.76 billion. In October alone, Brazil's beef exports decreased by 20% compared to the same period last year, to $982.6 million. On the other hand, beef exports in October increased by 2.94% year-on-year, reaching 240946 tons.

Data shows that in October, the average price of Brazilian beef exports was $4078 per ton, compared to an average price of $5228 per ton in the same period last year.

As of October, China remains the main buyer of Brazilian beef this year, accounting for approximately 49% of Brazil's total beef exports in terms of trade volume. This portion of trade revenue was 4.723 billion US dollars, a year-on-year decrease of 32.3%; The trade volume also decreased by 7% to 980016 tons.

The United States remains the second largest importer of Brazilian beef, with a market share increasing from 8% in 2022 to 11.8% in the first 10 months of 2023. Chile is the third largest importer, importing 82314 tons of beef from Brazil in the first 10 months, an increase of 28.8% compared to the same period last year.