Argentina approves live cattle exports, lifting 50-year ban

Argentina’s government has authorized the export of live cattle for slaughter, ending a ban that has lasted more than five decades, after the country’s beef exports last year reached their highest level in a century, Reuters reported. Famous for its beef cuts and traditional asado barbecue, Argentina is a cattle and farming hub and a major exporter of processed soybeans, corn and wheat. The country’s agricultural sector’s sales to foreign markets are the largest source of hard currency for the central bank’s coffers, needed to finance imports and pay down debt. In a statement on Wednesday, the secretariat of agriculture said the change in policy on cattle exports was a step toward “more competition in the meat and livestock supply chain,” in line with libertarian President Javier Miley’s efforts to deregulate South America’s second-largest economy and spur growth. Earlier this month, Milei’s government introduced a five-month tax cut on grain and grain-derived exports to try ...