Brazilian Cattlemen Riding a Bullish Beef Export Market

(WASHINGTON, DC) In 2018, Brazil was the world’s largest exporter of beef, providing close to 20 percent of total global beef exports, outpacing India, the second-largest exporter, by 527,000 metric tons. USDA projects that Brazil will continue its export growth trajectory for the next decade, reaching 2.9 million metric tons, or 23 percent of the world’s total beef exports, by 2028. Increased beef demand worldwide has encouraged increased production. China and Hong Kong remain the top two destinations for Brazil’s beef exports, accounting for 44 percent of their total beef shipments in 2018. China in 2012 lifted a Bovine Spongiform Encephalopathy (BSE)-related ban on Brazilian beef and has since become a top importer. With an increase in the number of Brazilian beef plants authorized to export to China, exports are expected to increase further over the next decade. In comparison with Brazil, the United States ranks fourth in global beef exports and represented 14 percent of total beef exports in 2018.