Argentina self-imposes beef export ban

Last week, Argentina introduced a self-imposed ban on beef exports in an attempt to control rapidly inflating domestic beef prices. This ban is set to last for 30 days, however, the Argentinean Government could extend this if they don’t see domestic price improvements. They could also cut it short if it delivers the desired outcome. In Argentina, the price of beef, a staple source of protein, has risen 65% in the past year. The government is anxious that accelerating inflation will be detrimental in the coming mid-term elections in November. The ban itself is not a new occurrence, with Peronist governments using export taxes and bans in the past to try and control domestic beef prices. Similar policy interventions from 2006 through to 2011 led Argentina's share of global exports to fall from 9% to 2%. In response to the ban, the Argentinean cattle industry has committed to a strike on the sale of cattle for slaughter for nine days, beginning May 20. President Fernandez has ...