A move by China affected Argentine beef exports downwards

Published 2024년 6월 26일

Tridge summary

Argentine beef exports in May 2024 saw a decrease of 7.8% from April and 16.8% from May 2023, totaling 55,300 tons. China, the primary market, is diversifying its purchases, leading to a drop in Argentine placements. Despite this, the first five months of 2024 saw a 13.3% increase in total sales abroad, reaching 314,100 tons and valued at $1,198.4 million, showing a 1.2% improvement from the same period in 2023. The United States is the fastest-growing market, with beef exports increasing by 62.1% year-over-year. The article also discusses the impact of climate change on the seasonal supply of cows and export delays to Israel.

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

Original content

Total beef exports fell last May, reaching 55,300 tons by product weight, 7.8% compared to last April and 16.8% versus the same month in 2023, according to a report carried out by the Consortium of Meat Exporters ( ABC). The data, according to the analysis carried out by experts in the meat processing sector, reflects that China, the main destination of Argentine meat with 76.1%, is increasingly diversifying its purchases, increasing them for example in Brazil, a country to which it comes to authorize a significant number of new plants for export. This impacts the placements of the Argentine product: as an example, sales of frozen boneless meat, which were 25,162 tons last May, had stood at 29,259 in April. Further back in time, in February 2024 they climbed to 39,100 tons. In addition to China, there was less activity with other markets, such as Israel. According to the ABC Consortium, meanwhile, when considering the first five months of 2024, in volume, total sales abroad were, ...

Source: Agromeat