Argentinian beef exports are the highest in 50 years
Argentinian beef sets new record volume in exports for the last 50 years, with 845,000 tonnes shipped last year. China was the main destination of Argentinian beef exports, accounting for 75% of the volumes shipped abroad. "It bought three out of every four kilograms exported during the year," says CICRA.
Compared with 2018, shipments to China grew 106.5% with a volume of 426,700 tonnes. The total value of the exports reached $3 billion, an increase of 58.1% from the previous year.
However, the beginning of 2020 may create some problems for the companies allowed to export on the Chinese market. First of all, the average beef price in that market has dropped by 40%, compared to September 2019. Second, the coronavirus outbreak caused port logistics problems "in the absence of personnel in the ports that unload the containers."
Besides that, a sharp increase in female slaughter last year (621,000 females slaughtered more than in 2018) has created a decline in the calves herd, which is about 300,000 head down than the initial estimates.