Beef exports in Argentina set to record high this year

Frozen Bone-In Beef

Meat

Argentina

Regulation & Compliances

Market & Price Trends

Published Mar 19, 2024

Tridge summary

Argentina's beef exports are predicted to hit a record 920,000 tons in 2024, surpassing official USDA figures by 20,000 tons. This increase is attributed to the abundant availability of beef, weak domestic retail prices, and the removal of export restrictions. China is expected to remain the primary recipient of these exports. The country's beef production and cattle herd are also projected to be higher than previously estimated. However, domestic beef consumption is forecasted to drop by 8% due to high inflation and reduced purchasing power.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Faxcarne/ Alejandra Groba/ According to the report from the USDA Buenos Aires office, Argentine beef exports in 2024 will reach 920,000 tons of bone-in beef, 20,000 tons more than official USDA figures, and a second consecutive record. “Exports are expected to be higher due to abundant availability of beef, weak retail prices in the domestic market and the lifting of export restrictions that were in place until the end of 2023,” the report explained. For the Buenos Aires office, the lifting of the ban on exporting seven beef cuts from the end of 2023 "opens up the potential to export 60,000-80,000 additional tons of beef, mainly cuts such as needle and buttock, chuck and top sides, two cuts "highly demanded in foreign markets." China would continue to be the main destination for Argentine beef exports in 2024, with a share of more than 70% of the total, but exporters are aware of this dependence and the need to actively seek new markets and/or export more to existing markets. Beef ...

Source: Defrentealcampo