Brazilian Beef Shipments Show China Resurgence, Mideast Plunge

(Bloomberg) -- The shifting makeup of Brazilian beef exports shows how the coronavirus pandemic is rippling through global trade flows.

China is buying more of those famous Brazilian sirloin and rump cuts as the Asian nation resolves port logjams caused by the early stages of the outbreak. In March, shipments to China doubled from a year ago, according to data from the Agriculture Ministry. At the same time, other countries now hit by the disease are slowing purchases, with exports to the Middle East down 46%.

The Chinese rebound is expected to continue, according to Morgan Stanley. In the first two weeks of April, Brazil’s beef shipments to all destinations rose 11% from a year ago.

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