27/07/2024
China turns its back on Brazilian chicken: exports plummet 50% while the Middle East emerges as a new savior. This dramatic shift has significantly impacted the global poultry trade.
In the first quarter of this year, Brazil's international poultry trade declined by 7.2%, leading to nearly 20% lower revenue. Once the world's top poultry exporter, Brazil now ranks third.
China, previously Brazil's primary importer, has seen a downward trend since the beginning of the year, with a nearly 50% drop compared to 2023.
*China's Poultry Imports Drop by 50%*
In addition to poultry, China is also expected to import less pork and beef this year—21% and 4% less, respectively. The U.S. Department of Agriculture projects that China will import 3 million tons less meat than in 2020, accounting for just 17% of global meat exports.
Meanwhile, Ecuador's poultry market has been preparing to enter the Asian market since 2022. This year marks a milestone as Ecuador confirmed the start of poultry exports to China.
*Ecuador Enters Chinese Poultry Market*
A trade agreement with China will allow Ecuador's poultry sector to significantly boost its exports. The sector expects an income of $6 billion, with production increasing by 5,000 tons of chicken, marking a 6% growth.
Looking ahead to the end of 2024, the global poultry market faces a complex landscape. Brazil will need to adapt to its changing role and seek new markets to regain its footing. The Middle East shows promise as a key market for Brazilian chicken.
At the same time, Ecuador's entry into the Chinese market could reshape regional trade dynamics, offering new opportunities for growth.
As the year progresses, the global poultry industry will be watching these developments closely, adapting to shifting demands and exploring new frontiers.
*Stay tuned for more updates on global trade trends.*
Global Food Traders.World
World map highlighting Brazil and China with arrows showing export routesChina turns its back on Brazilian chicken: exports plummet 50% while the Middle East...
