Egypt the second biggest buyer of Brazilian beef
10 de outubro de 2017
Industry association Abiec said the Arab country spent USD 73.7 million on roughly 21,200 tons worth of product from Brazil last month, placing second only to Hong Kong on the list of importing countries.
São Paulo – Egypt was the second biggest buyer of beef from Brazil in September, the Brazilian Beef Exporters Association (Abiec) said this Monday (9). Last month saw the Arab country import approximately 21,200 tons of beef from Brazil, for a total of USD 73.7 million.
Abiec said Egypt’s beef imports from Brazil climbed 5.3% in September from August. The country has been stepping up its purchases for a few months now: on releasing its July results, Abiec had named the country its “outstanding market of the month.” The North African country placed second on the ranking in August as well as September.
The floating of Egypt’s currency made for bigger capital inflows, and purchases made by the Ministry of Defense fueled overall results. The ministry is buying large amounts of food from Brazil, especially beef, which is made available both for consumption by troops and to civilians via retail sales.
In July and August, Egypt was the Arab country that bought the most goods from Brazil in absolute terms, according to data supplied by the Brazilian Ministry of Industry, Foreign Trade and Services and compiled by the Arab Brazilian Chamber of Commerce.
The only country to buy more beef from Brazil than Egypt was Hong Kong. It imported some 32,800 tons’ worth of beef for USD 124.4 million, up 56% from August.
Total beef exports from Brazil climbed 17% year-on-year in September to 135,600 tons. Those sales grossed USD 556 million, up 17.5%.
Year-to-date through September, Brazilian meat packers shipped 1.061 million tons of beef abroad, up 1.8% from January to September 2016. Revenue came out to USD 4.3 billion, up 6.6%.
*Translated by Gabriel Pomerancblum