Brazilian beef exports plunge 35% amid meltdown

by Editor
Monday, February 16, 2009

Brazilian beef exports plunged 35% in January compared to the same month last year because of the global meltdown, according to Associated Press.

The Brazilian Beef Exporters Association says the nation's meat producers shipped 81.8 million tonnes abroad during the month. That's down from 124.7 million tonnes for January 2008.

Association executive director Otavio Cancado said that the drop is due to frozen credit for international beef buyers. But Cancado says he does not believe that global consumer demand has dropped.

Brazil's beef export sector took in $255.7 million for its shipments in January, a 45% decline from the same month last year.