Strong currency harms Brazil’s pig meat exports
Over-valued currency continues to damage country’s overseas pig meat sales
The value of Brazil’s exports of pig meat increased by 5.9% over the first three months of this year, however in volume terms exports fell by 5.82%. Exports between January and March stood at 118,169 tons, with a value of US$311.07 million.
President of the Brazilian pig producers and exporters association, ABIPECS, Pedro de Camargo Neto commented: “Brazil has lost exports due to the strength of its currency. Brazilian pig meat, like many other products, has become more expensive than that of its competitors. Fortunately, the home market has remained strong, preventing the build-up of stocks.”
The main export countries for Brazilian pig meat over the quarter were Russia, Hong Kong, Argentina, Angola, Singapore and the Ukraine. While exports to Brazil’s main export market, Argentina, were higher in January and February, in March, volumes fell by 13.85%.