Mexico’s surging call for for US beef particularly spectacular
24 January 2024
2 minute learn
November beef exports to main marketplace Mexico set a worth file at $221.3 million, up 5% from the huge general posted a 12 months in the past, in line with knowledge launched by means of USDA and compiled by means of the USA Meat Export Federation (USMEF).
Export quantity (100,313 mt) higher 14% and used to be the second one greatest on file, trailing best October 2023. January-November exports already surpassed the yearly data set in 2022, with quantity expanding 13% year-over-year to 995,534 mt, whilst worth used to be 15% upper at $2.12 billion.
Mexico’s surging call for for US beef is particularly spectacular for the reason that marketplace attracted new festival during the last two years. Since mid-2021, Mexico has granted zero-duty get entry to to all eligible beef, pork and poultry providers, and this coverage has been prolonged thru 2024. The primary beneficiaries are Ecu and Brazilian beef, despite the fact that beef imports from Brazil had been suspended since past due November because of a court docket problem to Mexico’s import procedures. Even with new avid gamers within the area, the U.S. proportion of Mexico’s imported beef marketplace higher in 2023, attaining 84%.
Led by means of exceptional enlargement in Honduras, Guatemala and El Salvador, beef exports to Central The usa set per 30 days quantity and price data in November. Shipments higher 35% from a 12 months in the past to 16,565 mt, whilst worth surged 37% to $51.3 million. Throughout the first 11 months of the 12 months, exports higher 15% to 119,348 mt, whilst worth climbed 20% to $352.4 million. Shipments to the area are on a file tempo, with exports already surroundings annual worth data in Honduras and Guatemala and each quantity and price data in El Salvador and Nicaragua.
November beef exports to Colombia set a worth file at $34.3 million, up 59% from a 12 months in the past, whilst November quantity used to be the second one greatest on file at 12,148 mt (up 46%). After a gradual get started in 2023, exports to Colombia have reinforced in contemporary months. For January-November, exports had been 6% under the 2022 tempo at 88,550 mt, however worth higher 6% to $242.2 million. The file efficiency in Colombia and strong enlargement in Chile and Peru driven November beef exports to South The usa to the most important ranges in two years. Shipments higher 55% from a 12 months in the past to fifteen,056 mt, the 6th greatest on file, whilst worth jumped 58% to $43.2 million, the 3rd best on file. Exports to Chile had been the most important in 11 years and exports to Peru had been the most important since June. Thru November, exports to South The usa had been 1% decrease in quantity (106,968 mt) however higher 8% in worth ($306.7 million).