Weak Currency Boosts Brazilian Beef Exports09 September 2013
BRAZIL - Strong international demand, a weak currency and sluggish domestic demand combined to boost Brazilian beef exports during August to 109,300 tonnes – the highest volume since August 2007.
The Real (Brazilian currency) fell from 49US¢ in January this year, to 42US¢ in August 2013 (Infoscan Co) – the lowest since December 2008, according to Meat and Livestock Australia.
As a result, average Brazilian beef export prices declined seven per cent year-on-year and two per cent on the previous month, averaging US$4.32/kg during August.
TheMeatSite News Desk