Beef Exporters in Paraguay Brace for Slump From Key Buyer Russia

Beef exporters from Paraguay, one of the world’s major suppliers, are urgently looking to strengthen existing trade relationships and tap new markets after key buyer Russia banned shipments from several of the South American nation’s meatpacking plants.

Exports to Russia could shrink to as little as 15% of last year’s volumes in 2023, according to Randy Ross, chairman of Paraguayan meatpacking trade group CPC.

“Currently, we only have one plant authorized to export to Russia, and that alone is going to mean there will be a lot less volume for the Russian market,” Ross said in an interview.

Meat was ...