Argentina

Beef consumption in Argentina drops bellow historical records

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Poultry is the new substitute for beef, as consumer purchasing power is falling.

Posted on Feb 20 ,14:59

Beef consumption in Argentina drops bellow historical records

Beef consumption in Argentina has dropped to the lowest level ever recorded in the South American country. In 2019, beef had a 10% drop with a per capita consumption of 51.5 kg per year, the lowest in the Argentinian history, according to a report from Ecolatina. Pork consumption is also in decline compared to 2018 (-2%), while chicken meat has increased its market share by 1%, reaching a per capita consumption of 43.4 kilos per year.
Due to poor economic conditions and inflation, all types of meats have increased their prices, as follows beef (50%), poultry (69%), pork (35%). The preference for poultry comes as inhabitants opted for the lowest value protein, such as chicken meat.
Despite the total drop in animal protein consumption of 5%, the production has increased fueled by increased demand from China and other export markets.
In 2019, aggregate meat production obtained a 4% growth: beef, 2%; swine meat, 1.5%; and poultry, 7%. Poultry and beef exports have reported an increase of 50% each compared to the previous year, while pork shipments abroad were up by only 10%. Analysts are foreseeing another year of depressed market in Argentina but exports may reach higher volumes in 2020 due to the African swine fever crisis in Asia. However, producers must invest to expand their capacities as the demand for meat in the global market is expected to grow. For instance, last year, China has increased the volume of meat imported by 62% and is expected to grow by 34% in 2020.

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