Bovine Meat and Offal Exports Expected to Decrease in August Due to Minerva Foods Plant Closures

Bovine meat, offal, and live animal exports from Latin America have been maintaining a steady pace throughout the year. However, a decline is anticipated in August due to the closure of two processing plants owned by Minerva Foods, a key player in the market. Although exports have seen a significant rise in recent years, the international price for these products has seen a decline. As of June 2023, Russia was the leading importer of bovine meat from Latin America, followed by Chile, Lebanon, Egypt, and Libya. Factors contributing to the recent price increase in meat include the pandemic, supply chain disruptions, and global geopolitical issues. Additionally, there’s an initiative by the health ministry to enable local slaughterhouses to address transportation costs and theft in the livestock sector. This move aims to stabilize meat prices and improve logistics for the supply of meat.