Beef consumption in Brazil reaches lowest level in 18 years

The report was disclosed by the Agro Consultancy of Banco Itaú BBA. According to the document, it was the fourth consecutive year of decline in consumption per capita (Per inhabitant).

According to the report, consumption dropped even as beef production rose 6.5% last year. In 2022, 29.8 million heads were slaughtered, up 7.5% compared to 2021, but the lower average weight of carcasses made meat production increase at a slower pace.

The increase in production, however, was not reflected in lower consumer prices, with the surplus being exported. Of the total 7.9 million tons of beef produced, 65% (5.2 million tons) were consumed in the domestic market and 35% (2.85 million tons) were sold abroad. Exports grew 23.8% over 2021.

According to the Brazilian Institute of Geography and Statistics (IBGE), meat has become more expensive since 2020. That year, the average price rose 18%, driven by purchases from China. The rise slowed to 7% in 2021 and 1.84% in 2022.

conab

For this year, the report predicts an increase in meat production and demand for exports, but does not make projections about consumption. The 2022 data are in line with the official figures from the National Supply Company (Conab).

According to the most recent edition of the Meat Supply Board report, released by Conab in February, the availability per capita of beef in Brazil totaled 25.9 kg per inhabitant last year, the lowest level since the beginning of the historical series, in 1996. The indicator does not measure consumption, but the supply of meat in the internal market divided by the population.

For 2023, Conab projects availability per capita of 26.3 kg, up 1.8% compared to last year. Beef production, according to estimates, will rise from 8.49 million to 8.75 million tons (+3%), with exports increasing 4%, from 3.02 million to 3.14 million tons.