Brazilian Beef Industry Seeks Diverse Markets to Reduce Reliance on Chinese Demand

Brazilian beef executives stress the importance of accessing new markets to lessen dependence on Chinese imports. Eduardo Pedroso of JBS SA emphasized the potential of markets like Japan and South Korea, which are currently dominated by Australian suppliers. Though China is the primary destination for Brazilian beef, with JBS sending 26% of its global exports there, expanding into other markets is deemed critical for the sector’s sustainability. While China has seen a surge in beef consumption, especially among younger consumers, recent economic factors, including increased interest rates, have dampened demand.