Argentine

Argentinian beef producers invest USD187 million to boost exports

Beef

Beef meat export sector announced investments for USD187 million, to boost foreign trade and reach 1.25 million tons in the next three years.

Posted on Nov 19 ,06:38

Argentinian beef producers invest USD187 million to boost exports

This was announced by Mario Ravettino, president of the ABC Meat Exporters Consortium, during a ceremony held at the Frigorífico Rioplatense, in the municipality of Tigre.

Ravettino said the investment represents for the export meat industry the development of a virtuous circle with an investment process that started in 2020 and ends in 2021.

For the entrepreneurs, the investment includes the different stages that the exporting cold stores need to maximize and increase their production and to continue to become one of the main meat supplying countries in the world. 

He also pointed out that 11 of the 32 companies that make up the Consortium of Meat Exporters will make the contribution, "which will surely be reflected in the other companies of the consortium".

On the other hand, he detailed data and numbers of the meat export sector. "We are going to end a year with a greater volume of exports but with a lower income of foreign currency. We are going to go from 840,000 tons of exports of the previous year to 900,000 tons this year. And we are going to enter 2.9 billion dollars of foreign currency of the 3400 million that we entered last year", he said. "We are going to take exports from 900,000 to 1,250,000 tons. And from a foreign exchange income of US $ 2,900 million to US $ 5,250 million. It is our challenge", he said about the investment.

As it transcended, the Rioplatense Frigorifico will allocate 30 million dollars, in different stages until July 2022, for expansion works with the aim of fivefold the production capacity of frozen beef per day and almost double the amount of exports. The company allocates about 75% of its production to international markets such as China, which is the main importer with a 30% share of world trade.

Other companies that are members of the Consortium will contribute the rest of the amount of announced investments, among which the Arree Beef refrigerators stand out, for 41 million dollars; Swift, $ 27 million; Frigorífico Gorina, $ 25 million; Marfrig, $ 25 million; Azul Natural Beef, $ 20 million; Friar, $ 10 million; Importadora Exportadora de La Pampa, 8 million dollars; and Logros, $ 1 million.

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