Argentine: Good start for meat exports in 2023
Last year, China continued to buy beef at a very good rate and thanks to this, meatpacking companies in Brazil had months in which they broke sales records to that market, despite the low prices in the second half of the year and thanks to their good internal competitiveness. .
For meat companies in Argentine, the situation was different, because the official exchange rate is visibly backwards and, in addition, 9% of export duties are deducted from it. So, the fall in values affected the accounts of these firms, which had in compensation a first half of 2022 with record prices.
At the start of 2023, and after having celebrated the Lunar New Year in China, Asian importers need to replenish stocks. In addition, there the restrictions that were in force to control the covid fell and consequently the demand for meat from the Asian giant seems to have awakened.
In this context, the prices were around $6,000 per ton, and the sets of cows were around $5,000 per ton. These values are 20% higher than those in mid-December.
On the other hand, the values of the beef cuts that Argentina sells to Europe also improved. Last year the Ukraine-Russia war added costs and reduced purchasing power, but the economic situation seems a little better off and meat is also required to supply domestic demand and tourism. Most of the meat in those destinations is eaten outside the home and during the warmer months.
For these reasons, the price per ton of Quota Hilton reached 14,500 dollars, which indicates an improvement of almost 50% compared to the valuesthat were a few months ago.
The better demand from both markets helps to sustain the firmness in the prices of the export categories.
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