Beef consumption plummets in cattle-crazy Argentina

Beef consumption in Argentina, one of the world's top producers and consumers of the meat, has fallen to near-record levels amid a biting economic crisis, an industry body said on April 16. In the first quarter of 2024, beef consumption dropped to its lowest level in three decades, according to the CICCRA meat industry chamber. This amounted to nearly 10 kilograms less per person, per year. According to the U.N.'s Food and Agriculture Organization, Argentina has some of the world's most carnivorous inhabitants -- until recently consuming nearly 50 kilograms per person, per year. The South American country is battling an economic crisis that has seen purchasing power slashed in four months under self-declared "anarcho-capitalist" President Javier Milei and his budget-cutting measures. Poverty affects nearly 60 percent of Argentina's population. Year-on-year inflation is at more than 280 percent. For beef, the annual price increase was 278 percent in March. Butcher Carlos Principe ...