Argentina: Beef exports to China fell 13.7% in July

Published Sep 11, 2024

Tridge summary

The Argentine meat market is facing a challenge as Chinese purchases, which typically account for over 70% of the country's beef exports, have decreased by 14% in July compared to June. This decline has been offset by increased shipments to countries such as Israel, Chile, Germany, and the Netherlands. However, the total beef export volume has decreased by 13.9% compared to July of the previous year, leading to a 16.1% decrease in revenue. The decrease in shipments is due to China's efforts to pay lower prices, and the situation could potentially become more serious for the industry if the market does not open up to more suppliers.

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

Original content

The Argentine meat market is highly dependent on Chinese purchases, which in recent years accounted for more than 70% of our country's exports. But in July that reality changed, as purchases from the Asian giant fell by almost 14% compared to June and if it had not been for an exponential increase in shipments to other countries, it would have become a very complicated problem for the industry. According to a report by the Chamber of the Meat Industry and Commerce (Ciccra), Chinese purchases from our country were reduced by 13.7% in July compared to the previous month, with some 28,665 tons of product weight (tn pp) being shipped to that destination. In this way, China's weight in total Argentine beef exports went from 70.1% in June to 60.9% in the seventh month of the year. This was accompanied by a monthly decrease of 22.3% in shipments to the United States; 10.6% to Mexico; 26.1% to Brazil; 18.7% to Italy; and 10.1% to Spain, among other destinations. The flip side However, the ...

Source: Agromeat