Argentina is expected to allow beef exports to resume, with restrictions, after enforcing a snap 30-day ban last month.
- Argentinian beef exports to resume next week, according to local news
- President Alberto Fernandez put snap 30-day ban on beef exports last month to control meat prices
- Some beef still exported to USA and Eurpoe during ban, analyst says
Argentina’s President Alberto Fernandez put in place a 30-day ban on exporting beef, in an effort to control rising meat prices in the country, ahead of looming national elections.
After meetings between the government and meat exporters, media outlets in Argentina reported that beef exports would officially be allowed to resume next week, but with restrictions on export volumes.
In 2020 Argentina shipped out around $US3 billion worth of beef, mostly to China, making it one of the world’s biggest beef exporters.
Meat analyst Simon Quilty said it seemed the government wanted to make sure the majority of beef stayed in the nation.
“The government had come out wanting to prevent 60 per cent of exports, and the exporters were willing to try to get 40 per cent of exports prevented,” he said.
“So a compromise is what is now being discussed and, as I understand it, 50 per cent of exports will not go, and therefore remain on the domestic market.”
Mr Quilty said if Argentina’s beef exports were reduced by 50 per cent, around 250,000 tonnes of beef would be removed from the global beef market.
“The biggest loser out of this will be China, without doubt,” he said.