Average export value under the US quota grows 37%

Regarding the 20,000-ton duty-free quota that Uruguay holds in the US (ending December 31), by the end of February 25% of that quota (about 5,000 tons) had been used. That compliance rate is 10% lower than in the same period of the previous year. However, much of the beef Uruguay is sending to the US is shipped outside the quota, paying a 26.4% tariff, taking advantage of the northern giant’s significant supply deficit. As a result, the quota is being used for higher-priced cuts, to optimize its use. Currently, the average value under the quota is around US$/t 10,000, 37% above the average for the first two months of last year.