Brazilian beef exports plunge due to economy, credit crunch

By Tom Johnston on 2/13/2009
MeatingPlace.com

Brazilian beef exports plummeted 35 percent in January compared with the same month last year amid the global economic downturn, according to an Associated Press report.

The Brazilian Beef Exporters Association said the country's meat producers exported 81.8 million metric tons in January, compared with 124.7 million metric tons in January last year.

Otavio Cancado, the association's executive director, is quoted as saying the decline occurred primarily because international beef buyers could not get credit.

Brazilian beef exports fetched $255.7 million in January, down 45 percent from the same month last year.