Argentina restricts beef exports for 2 more months

The Argentine government announced today that it is extending the beef export restrictions imposed in June for 2 more months, seeking to increase the internal supply in order to contain prices, according to a decree published in the official federal gazette.

Three months before the midterm elections, President Alberto Fernández wants to avoid the social pressures that the rise in beef prices is generating in the country.

“In the short term, the tool to limit sales abroad is essential to guarantee Argentine access to meat, given the sharp increase in consumer prices,” said the center-left government in the decree.

See the chart below for a comparison of Argentine beef exports in the first half of the last three years. Data are from DataLiner:

Argentine Beef Exports (HS 0202) | Jan to July 2019-2021 | TEU

Source: DataLiner (To request a DataLiner demo click here)

The measure, which triggered protests from rural associations in the country in June, restricts exports to 50% of the volume exported in the same period last year.

“The structural solution to the tension between the external market and the internal market is linked to measures that allow for an increase in production,” added the government.

The country has suffered from high inflation for years and only in 2021 is it able to overcome a prolonged recession.

Source: Money Times

To read the full original article, visit the link: https://www.moneytimes.com.br/argentina-prorroga-por-2-meses-restricoes-a-exportacao-de-carne-bovina/

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