Premium beef may find a good market in Brazil
American experts are expecting Brazil to become a good market for premium beef. Despite the COVID-19 crisis, last year the South American country has increased imports of premium beef by 26.3% compared to 2019. This may come as a shock, as Brazil is the second world producer of this type of meat but most of the products are exported to Asian markets.
The main exporters of this type of product to Brazil are Paraguay, Argentina, Uruguay, Australia and the United States. Brazilian ranchers are attentive to their national premium market and will inevitably participate and compete with these countries at some point. However, they still have to adapt local production to achieve the quality demanded by this demanding market.
The potential of the Brazilian beef market is currently explored also by European producers as the EU has increased exports by 1.8% last year, despite the economic downturn. Growth was especially strong in high-value markets. Export growth overall is expected to continue in 2021 (+1%), constrained by limited domestic availability and economic uncertainty, according to the latest short-term outlook from the European Commission.