The U.S. has now taken first place as top beef exporter beating out Brazil, reports the Brazilian newspaper Folha de São Paulo.

The U.S. exported 1.7 percent more meat than Brazil between January and July, when it generated $3.06 billion in revenue, compared with $3.01 billion by Brazil, according to the Brazilian Association of Meat Exporters (ABIEC).

The U.S. exported 741,300 tons in the same period – 18 percent higher than the 627,600 tons shipped by Brazil.

The increasing cost of production is one of several factors that has brought about the change.

"Large meat processors have little incentive to export. It doesn’t pay," said Jose Vicente Ferraz, technical director, Informa Economics FNP.

Meat products in the U.S. are cheaper than Brazil due to the nation’s economic problems, Folha de São Paulo adds.

Fernando Sampaio, ABIEC executive director, noted that the U.S. has begun exporting meat products to new markets.

"The U.S. is able to access markets that were previously unavailable for them due to price, such as Europe and even Egypt," he said.