Beef consumption in Brazil drops to lowest level in 18 years, says Itaú

Beef consumption in Brazil fell once again in 2022, for the 4th consecutive year. In the period, consumption of animal protein reached 24.2 kg per inhabitant, the lowest level since 2004

The data are from the Agro Consultancy of Itaú BBA. Consumer beef prices started to rise in 2020, which made many Brazilians take protein off their plate. The increase in poverty and the drop in income during the pandemic also impacted the reduction in consumption. The value of meat, in general, rose 18% in 2020, but slowed down in 2021 (+7%) and 2022 (+1.84%), according to data from the Brazilian Institute of Geography and Statistics (IBGE). Until February of this year, the price of protein accumulates a drop of 1.68%. Despite the lower consumption, the production of refrigerators grew again last year. In total, 29.8 million head were slaughtered in Brazil, an increase of 7.5% compared to 2021. It was the first increase in production since 2019. The increase was driven by the return of female slaughter.

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