Argentine exports remain high and reach a new record

Published 2024년 10월 25일

Tridge summary

Argentine beef exports reached a record high of 88 thousand tons in September, an increase of 2,000 from August, making it the highest monthly export since November 2020. The 12-month record also hit 907 thousand tons, surpassing the September 2020 record. The increase in exports was due to lower shipments to China, Chile, Russia, and the US, and higher shipments to Israel and the EU. The weighted average price of the main five destinations increased by 5% compared to August but was 1% lower than the previous year. Mexico has started allowing Argentine boneless meat, and the market is gaining momentum. However, a problem with the registration of foreign sales has been resolved, but a pending issue remains regarding the factor used to transform boneless meat into bone-in equivalent.

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

Original content

In September, Argentine beef exports reached 88 thousand tons of carcass equivalent (tec), two thousand more than in August and the highest level for a month since the 91 thousand in November 2020. The high records of this two-month period allowed to surpass the record for 12 rolling months, marking 907 thousand tec, one thousand tec more than the existing record, which dated back to September 2020, before the export restrictions of May 2021 took effect. To find a higher level, you have to go back 100 years (!!!) to the record of 985 thousand tec in 1924. The changes in volumes The 60 thousand tons of shipping weight last month exceeded those of August by 1,500. The difference is explained by lower shipments to China (1,500 t), Chile, Russia and the US (200 t each); and higher shipments to Israel (2.7 thousand t) and the EU (200 t), among the main ones. Small price reaction In September, the weighted average price of the main five destinations increased 5% compared to August, ...

Source: Agromeat