Brazilian Beef Consumption on the Rise
BRAZIL - Brazilian beef consumption over the past decade has steadily increased, coinciding with a sustained increase in average incomes. Since 2001, Brazilian beef consumption per head has increased from 35 kg/head to 41.5 kg/head in 2011, according to figures released by the Food and Agricultural Organisation (FAO).
3 May 2012
1 minute read
Between 2001 and 2011, Brazils’ Gross Domestic Product per capita rose from US$3,000 to US$13,000 (International Monetary Fund). The improved economic conditions and incomes have transpired into an expanding middle class, estimated to exceed 100 million people, which has underpinned the increase in Brazil's beef consumption.
While domestic demand and consumption has improved in recent years, the currency has soared in recent months, impacting the price competitiveness of Brazil beef exports. During April, the Brazilian Real averaged R$1.86 – 18 per cent higher than the corresponding month last year and the highest level since July 2009 (Central Bank of Brazil).
As the world’s second largest beef producer, the higher currency (along with other factors) and robust domestic demand, has put pressure on export volumes, which for the first quarter of 2012 declined six per cent year-on-year, to 187,165 tonnes swt.
TheCattleSite News Desk
