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Uruguayan exports fell in March
Tuesday, April 2, 2024 - 09:45
Vacas. Foto: Reuters.

Due to lower exports of beef and rice. In the first quarter of the year, sales abroad decreased 2%.

Exports of goods in Uruguay decreased in March basically due to lower shipments of beef and rice. The negative data for the month led to sales having a negative variation in the first quarter of the year.

Exports – including those from free zones – in March were US$893 million with a year-on-year decrease of 14%, as reported this Monday by the Uruguay XXI Institute. Pulp was the main product placed with US$ 182 million in the month and an increase of 9%. Despite a sharp drop in prices of 28%, there was a 50% increase in exported volume.

Pulp is on its way to being Uruguay's most relevant exported product. This expected good performance will be accompanied by a greater supply of soybeans that will recover their export levels after a bad year as a result of the drought. Pulp and soybeans are expected to contribute an additional US$1.5 billion to 2024 exports.

The second product in March was beef with US$ 156 million, although with a decrease of 27%. China has suffered lower demand since last year, which resulted in a 53% contraction in exports to that destination.

Third place in the ranking was occupied by wheat with US$ 70 million and an increase of 200%. The main sales were to Brazil and Angola.

The main destination of sales was Brazil with US$ 160 million almost unchanged in the year-on-year comparison. Uruguay XXI explained that the main exports were vehicles and wheat. The two items ensured that general sales to Brazil remained stable despite the declines in dairy products and malt.

China, despite being the second destination, had a 50% decline in purchases. In addition to the decline in beef operations, the negative result was also felt in meat by-products (decrease of 24%) and wood and its products (decrease of 71%).

In third place was the United States with US$62 million and a 16% drop. Beef was the main product with 65% of total sales and growth of 37%. The good performance did not compensate for the decrease in other items such as meat by-products and wood and its by-products.

First trimester

In the period between January and March of this year, exports were US$2,757 million and a year-on-year decrease of 2%.

In that quarter, pulp reached sales of US$ 540 million and an increase of 6%. Beef came in second place with US$ 501 million and a decrease of 6%. The third was wheat with US$ 193 million and an increase of 136%. The greatest falls were observed in calza and carinata with 68%, rice with 38% and wood with 22%.

Brazil was the main buyer with US$ 481 million, basically of vehicles, malt and dairy products. In the first quarter, there was a 4% growth in exports to that destination.

Second in the ranking was also China with US$290 and a 31% decrease. The main sales item was beef with US$ 183, although with a year-on-year decrease of 33%. Then the meat by-products and wool and fabrics were located.

The United States was in third position with US$ 260 million and an increase of 16% compared to the same period in 2022. The largest placements were beef, meat by-products, and wood and by-products.



El Observador