74% rise in 2020 and lowest consumption in 100 years, Argentina's crusade against meat prices

Published 2021년 2월 10일

Tridge summary

Argentina has seen a significant increase in beef prices, with a 74% rise in 2020 due to factors such as changed eating habits and high export rates. The government has responded by implementing a price agreement aimed at reducing meat costs, with supermarkets and refrigerators sharing the burden of the discount. The agreement, in effect until the end of March, has resulted in price drops for certain cuts. However, critics argue that the agreement only benefits a small portion of the population and does not address the root causes of high meat prices. The high minimum wage in Argentina, compared to other countries, is also highlighted as a contributing factor. The article also points out the challenges of implementing price controls over the long term and the need for fiscal and monetary measures against inflation.

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

Original content

Every weekend, thousands of barbecues are lit in Argentina to grill beef. Last year, each Argentine ate an average of 49.7 kilos, ten times more than in Spain (4.8 kilos), for example. With the exception of Uruguay, consumption is also much higher than in other countries in the region, such as Chile (29 kilos), Colombia (18.6) and Peru (6), but for Argentina it is very low, it is the lowest in 100 years. The drop has to do with changes in eating habits, but also with the price, which rose 74% in 2020, double the inflation. Alberto Fernández's government began the battle for beef to contain the increase in the basic food basket, a challenge that many of its predecessors also faced with little success. The meat price agreement that went into effect last week establishes reductions of up to 30% in eight popular cuts. Refrigerators assume half the discount and supermarkets the other. Thanks to the agreement, which will last until the end of March, prime rib, flank steak, stiff leg, ...

Source: Beefpoint