September 17, 2014
Amid sanctions and embargoes of agricultural goods between Russia and Western nations, Brazil has reaped the benefits seeing beef exports climb to more than 1 million tons for the first eight months of 2014 according to the Brazilian Beef Exporting Association, solidifying its position as the world’s top beef exporting country. From January to June Brazilian beef exports to Russia averaged 24,000 tons per month, July totaled 41,000 tons and August totaled 33,000 tons – and in terms of value, in the first eight months of the year Brazilian beef export revenues increased by 14% to reach US$4.75 billion. This is all prior to Russia approving 58 additional Brazilian beef plants for export licenses, leading Brazilian officials to believe that exports will increase even further.
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