Nicaraguan beef exports continue growing
- 28 July 2021
The Nicaraguan meat sector exported a total of US$343 million in the first half of 2021, according to the Nicaraguan Chamber of Bovine Meat Export Plants (CANICARNE, for its acronym in Spanish). This figure is equivalent to a growth of 18 percent compared to the US$289 million exported during the same period in 2020.
One of the main reasons for this growth is the improvement in the price of beef in the international market, which benefits Nicaragua, whose main export destination continues to be the United States with 45 percent of exports. Juan Velásquez, Executive Director of CANICARNE, pointed out that he projects a growth of 5 percent at the end of 2021, both in value and in volume, which would represent a figure of more than US$600 million in exports by the end of the year.
On the other hand, the National System of Production, Consumption and Commerce of Nicaragua announced that in the first months of this year it has been possible to increase the production of livestock, which generates greater stability in the markets, guarantees food security and contributes to exports growth. Likewise, according to the Nicaraguan Ministry of Agriculture (MAG, for its acronym in Spanish), 95,225 cows have been inseminated to date, which contributes 7,000 born calves to the goal of 100,000 for the next three years.
Finally, it’s important to mention that, according to data from the Federation of Livestock Associations of Nicaragua (FAGANIC, for its acronym in Spanish), the livestock and dairy sector contributes 25 percent of the Gross Domestic Product and generates 650,000 jobs, between formal and informal.
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