While local consumption plummets, beef exports of Argentina break records

Published Jun 21, 2024

Tridge summary

A recent report from the Chamber of Industry and Commerce of Meats and Derivatives of the Argentine Republic (CICCRA) has shown a significant shift in the local meat market. Between January and May of 2024, Argentina experienced a 15.9% decrease in local meat consumption, reaching a 30-year low, while beef exports surged by 22.2%. The per capita beef consumption dropped by 15.9% compared to the same period in 2023 and by 30% compared to 2013. Despite the increased prices, the rise was less than the growth in the value of the standing herd and overall consumer prices. On the other hand, the meat processing industry saw a 13.4% increase in April, exporting a record 48.9 thousand tons of beef, with the US, Israel, Chile, and Mexico being the main buyers. However, the average price per ton of product weight exported in April was 14% lower than in April 2023.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In recent days, a report from the Chamber of Industry and Commerce of Meats and Derivatives of the Argentine Republic (CICCRA) was released, which warns that in the first five months of the year, local meat consumption fell by 15.9% year-on-year, reaching the lowest volume in 30 years. Meanwhile, the amount of beef exported increased by 22.2%. CICCRA's work determined that the apparent consumption of beef per inhabitant between January and May of this year was equivalent to 44 kilos per year, remaining 15.9% below the same period in 2023. If compared to the 62 kilograms of annual per capita consumption in 2013, the current level is 30 percent below. When comparing the prices of May 2024 with those of the same month of 2023, the increase was 283.9%. However, the increase in prices of beef cuts to the consumer was lower compared to the increase in the average value of the standing herd (297.2% annually) and also in relation to the general level of consumer prices (278.9% ). These ...
Source: Agromeat
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