Value of Dollar Likely to Stimulate Chicken Meat Exports18 June 2013
BRAZIL - The volume of chicken meat being exported may increase if the value of the dollar continues the upwar
Currently, the bets in the futures market (BM & FBovespa) indicate that the value of the US dollar is continuing to be strengthened.
During the first five months of 2013, 1.4 million tons of chicken meat were shipped, 5.4 per cent less than the same period last year, which possibly led to oversupply in the country, preventing price support in this market.
Even after decreasing exports, the revenue obtained was 18.1 per cent in local currency. The average value of chicken products shipped in April reached a record US$2.20 / kg, corresponding to R$4.41 / kg, also a record.
In May, the average was R$4.37 / kg. Even if the volume is not expected revenue of R$4.414 billion in the month of April was a record, in May, the amount of R $ 4.374 billion was the second largest.
ThePoultrySite News Desk