Argentina

Argentinan ban of beef exports generated great losses

Beef

A report from the Argentine Rural Society (SRA) shows that exports have dropped 45% between May and June, while prices in the domestic market have spiked 18%.

Posted on Aug 09 ,07:31

Argentinan ban of beef exports generated great losses

Great losses are reported in the Argentinian beef industry, as the ban on exports placed by the Government looks ineffective. A recent report from the Argentine Rural Society (SRA) shows that meat prices have increased by 18% in the second quarter of the year, while exports fell 45% in June compared to May. In terms of value, there were losses of $108 million reported from one month to another.
"The results obtained are very clear: the measures taken by the national government made us all lose," commented Nicolas Pino, SRA President. Based on this, the SRA once again asked the President of the Nation, Alberto Fernández, “to review this measure so that we can resume a work agenda with predictability to generate competitiveness and return to being the main meat exporters in the world”.
Meantime, Uruguay has increased its beef exports to Argentina, reaching 1,361 tonnes, a 10-years high for the Uruguayan beef sector. Also, benefiting from the ban placed in May for Argentinian beef exports, Uruguay has increase beef shipments worldwide by 25%, totaling 241,381 tonnes.

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