Despite the rise in exports, the domestic demand for beef has not recovered in Argentina

The Argentine meat-packing industry exported 10.1% more during January and November 2022 in the year-on-year comparison, while in the local market the drop in demand for beef was accentuated, mainly due to prices. This was revealed by a report from the Chamber of Meat Industry and Commerce of the Argentine Republic (CICCRA), which specified that 825,000 tons of beef were exported during the analysis period. The invoicing for these sales abroad amounted to US$3,238 million, an amount that was 27.9% higher than the same period of 2021 and with an average price per ton of US$5,600. On the other hand, CICCRA alerted that since August 2022 the meat processing industry faces a process of falling demand for beef, mainly due to prices and to a lesser extent due to volumes. Simultaneously, it indicated that the deterioration in the purchasing power of families translated into a slight drop in domestic consumption: all of this combined contributed to explaining the significant slowdown in ...