Highest monthly beef exports to the EU in 16 years

Partly due to the bulk of 481 shipments that will be entering the European Union (EU) starting July 1 and partly due to strong product demand in the old continent, Uruguayan beef exports in May were the highest since May 2009 —16 years ago— according to export application data reported by Customs. They totaled 6,640 shipment weight tons, of which 4,296 tons were chilled beef and 2,344 tons were frozen.

The volume of chilled beef —which includes the 481 quota, the Hilton quota and possibly some out-of-quota volumes— was nearly 1,000 tons higher than in February, when the 481 quota that entered as of April 1 was shipped.

The average FOB value for chilled beef in May was US$/t 13,193, the highest since June 2022, almost three years ago.

Cumulative figures through May show 12,862 tons of chilled beef and 8,589 tons of frozen beef, with annual increases of 24% and 53%, respectively.