Colombian beef exports have marked substantial growth between January and October 2024, with total revenue reaching USD 58.3 million, according to data from the National Administrative Department of Statistics (DANE). Major markets for Colombian beef during this period included Russia, China, and Chile, which collectively imported 13,486 tons of beef.
Russia emerged as the top buyer, importing 9,924 tons valued at approximately USD 38 million. China followed as the second-largest market, acquiring 3,158 tons for USD 13.4 million, and Chile placed third with 1,404 tons totaling USD 6.9 million. Overall, total beef exports amounted to 17,293 tons, generating revenue of USD 71.6 million. Economic factors such as exchange rates have positioned Colombian exports favorably compared to those from major competitors like Brazil and Argentina.
José Félix Lafaurie Rivera, the president of the Colombian Federation of Cattle Ranchers (FEDEGÁN), emphasized the industry's sustainable growth, saying, "We produce over 900,000 tons of beef annually, focusing on sustainability. We have opened markets like China and are working on exporting to the United States.” This statement reinforces the commitment of Colombian ranchers to not only meet domestic demand but also cater to increasing international markets.
Óscar Cubillos, the director of Economic Studies at FEDEGÁN, added, "Our exchange rate remains very favorable for exporting, allowing the price per kilogram of live cattle to be more competitive compared to Brazil, Paraguay, Uruguay, and Argentina. Although international beef prices have stabilized, this creates favorable conditions for foreign sales.” His insights provide clarity on the economic backdrop supporting this export growth.
Latin American markets are also showing interest, with El Salvador standing out as a key buyer. During the first ten months of 2024, this small Central American nation imported 1,103 tons of beef, generating USD 6.2 million in sales. Other nations such as Curacao, Egypt, Hong Kong, Iraq, Libya, Turkey, and Saudi Arabia have also contributed to the growing demand for Colombian beef.
Notably, the export of live cattle has surged, particularly to countries like Iraq, Egypt, Saudi Arabia, Jordan, and Venezuela. These markets collectively purchased 187,392 live animals for USD 143.3 million during the same period. Cubillos indicated, "For livestock exports, the next two months should be even more dynamic considering the Ramadan celebrations in our export destination countries,” highlighting the anticipated increase in demand during this festive season.
The rise of Colombian beef exports reflects not just the country's capabilities but also its strategic positioning within the global meat market. The combination of sustainable practices and favorable economic conditions points to continued success for Colombian ranchers and exporters.
Overall, as Colombia strengthens its foothold in international markets for beef production, the commitment of ranchers to sustainable practices alongside effective economic strategies showcases the country's potential for thriving exports. The market for Colombian beef is expected to continue to expand, with efforts underway to tap even larger markets such as the United States.