Argentina registers highest beef exports of the last 14 years

In 2019, Argentine beef exports reached their highest level in 14 years at 850,000 tons. This was driven by China`s demand for protein, as African swine flu decimated much of the Asian pig population and it was forced to seek alternative suppliers.

According to the latest economic report from the Argentine Chamber of Meat and Derivatives Industry and Trade (CICCRA), which used INDEC as a reference, in October, Argentine beef exports recorded the highest ever monthly volume, reaching 65.2 thousand tons.

Between January and October this year, exports reached a record 670,000 tons, 50% higher than the first ten months of 2018.

The following chart, based on Datamar’s DataLiner data, shows Argentine beef exports to China and to the rest of the world from January 2015 to November 2019:

Source: Dataliner / Datamar

Exchange Rates

When analyzed in dollars, as opposed to tons, exports of Argentine beef in October reached US $ 362.7 million, at FOB price. This is more than double that of October 2018 ($ 160.2 million) and more than triple the average of the last 5 years for the same month ($ 110.7 million).

From January to October 2019, sales of beef abroad brought in foreign exchange revenues of nearly $ 2.4 billion, surpassing in just 10 months the total sales of 2018 ($ 1.875 million). It is noteworthy that exports to China correspond to 64% of the total invoiced by Argentina.

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