Argentina: Exports fell again in May

Published Jun 21, 2024

Tridge summary

Argentine beef exports experienced a third consecutive decline, with a drop of 8% from April and 17% year-on-year in May, totaling 67,500 tons of carcass equivalent. This decrease is due to a reduction in shipments to China and Israel, partially offset by increased exports to the EU, Russia, USA, and Mexico. The average fob price of beef in May was USD4,600/t, which increased by 7% from April but decreased by 6% year-on-year due to a lower average purchase value in China. The decline in slaughter is also negatively impacting foreign sales.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

It is the third consecutive decline after the maximum in recent years was reached in February. The weighted average FOB price for the main destinations also fell. Argentine exports totaled 67,500 tons of carcass equivalent (tec) in May, 8% less than in April and 17% less year-on-year. After the maximum number for a month since 2021 was reached last February, similar to those achieved in July and August 2023, the record for each month showed a downward staircase, from 83 thousand tec to the current volume, which represents 16 thousand tec less (-19%). Comparing May with February, the main drop is with China, as always happens with this destination that weighs so much in the total. There are 21 thousand fewer tec in frozen meat s/h and another thousand in bone-in meat (butchered bones are not counted). There are also almost 4 thousand less tec towards Israel; It must be taken into account that May shipments to this destination suffer from low kosher production due to the withdrawal ...
Source: Agromeat
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