Argentine beef exports grow but not in China
Argentine beef exports have grown interannually but demand from China is 20% lower than in July and decreasing, with a marked downward trend in prices, according to a report from the Argentine Beef Exporters (ABC) Consortium in Buenos Aires.
In the first 8 months of 2022, shipments of beef grew 9.4% compared to the same period of 2021 and almost 20% in August compared to the same month last year, but fell 5% from July, the study also revealed.
On the other hand, shipments to China, Argentine beef’s main destination, fell by 20% compared to July. The Argentine Government allowed 15% more exports, which might result in a positive impact at the end of this month.
“In relation to August 2021, the volumes exported are 19.9% higher; while the value obtained has been 32.3% higher. The accumulated for the first 8 months of 2022 reveals that foreign sales of refrigerated and frozen beef were for 417.3 thousand tons product weight; for a value of approximately US$2450 million. Compared to the first 8 months of 2021, the volumes exported are 9.4% higher; while the value obtained has been 43.7% higher,” ABC Chief Mario Ravettino said.
Shipments of refrigerated and frozen beef in August reached a volume of around 56.7 thousand tons of product weight, with a value of around US$329.2 million. Compared to July, volumes shipped showed a 5% decrease, while the value obtained fell by 4.7%.
The average export price of chilled and frozen beef was 0.3% higher than in July, and 10.4% above the average for the same period of 2021.
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