Argentina's meat exports to China showed a rebound

Published 2024년 8월 14일

Tridge summary

The article provides an analysis of Argentina's beef exports performance from May to June 2024, highlighting significant fluctuations in both volume and average price. It reveals a rebound in exports to China, contributing 70.1% of the total, despite a quarterly decline in beef exports, primarily due to reduced Chinese demand. While exports to China increased by 14.9%, those to several European countries saw a decrease. The average price per ton fell by 13.2% year-on-year to $4,258, with China's price dropping by 19.0%. In the first half of 2024, Argentina's beef exports rose by 13.3% to 306.4 thousand tons, despite a falling average price largely due to China. Additionally, the article notes a seasonal increase in cattle prices in Cañuelas in July.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Exports to China showed a rebound of 4.3 thousand tons of pp compared to May (14.9%), which raised the monthly total to 33,214 tons of pp. Thus, its share in the total exported went from 62.5% in May to 70.1% in the sixth month of the year. Higher quantities were also sent to Mexico, Israel and Spain, although in absolute terms they were 'marginal' in relation to the increase in sales to China. Meanwhile, on the other hand, the quantities exported to Chile, Germany, the Netherlands, Italy and Brazil fell. Nevertheless, it is important to highlight that in the second quarter of the year, beef exports were equivalent to 142.5 thousand tons of pp, 13.0% below the total exported in the first quarter of the year. This contraction was entirely explained by the reduction in purchases made by China. Our main client purchased 95.4 thousand tons of pp in April-June 2024, which implied a reduction of 26.5 thousand tons of pp compared to the first quarter of the year (-21.7%), which reduced ...

Source: Agromeat