Beef exports from Argentina up 11% from prior June

Argentine exports of refrigerated and frozen beef in June totaled 57,100 tonnes (79,377 tons of bone-in beef), valued at US$211 million, according to INDEC data. This volume represents a 2.1% increase from the previous month and an 11% increase year-over-year. However, in terms of value, there was a 6.6% decrease from the previous month and a 4.5% decrease compared to June 2023.

China accounted for 76.3% of the volume exported in June, importing 13,600 tons of bone-in beef and bovine bones from deboning (worth US$19.2 million) and nearly 30,000 tons of boneless beef (US$98.2 million).

United States Becomes Second Largest Destination

In June, the United States became the second-largest destination for Argentine beef, importing 4,350 tons (828 tons of chilled boneless meat and 3,518 tons of frozen beef), surpassing sales to the European Union. In the first half of the year, sales to the United States reached 17,200 tons, an increase of nearly 80% compared to the same period last year.

Yearly Growth in the First Half of 2024

In the first half of 2024, beef exports totaled 371,800 tons of product weight (518,000 tons of bone-in beef), valued at US$1,412.7 million. This represents a 13.1% increase in volume compared to the first six months of 2023, with a modest 0.6% increase in value. Of the total shipped, China accounted for 76.1%.

Over the last rolling year (July 2023 to June 2024), exports reached 726,200 tons of product weight, valued at approximately US$2.785 million, according to the ABC Exporters Chamber.

Offal Exports Reach US$91 Million

In June, beef offal shipments and preparations reached 9,100 tons, valued at US$14.6 million. “The average export price of these products was slightly above US$1,600 per ton, with peaks above US$3,360 for beef tongues,” said the ABC Exporters Chamber.

In the first half of 2024, shipments of beef offal totaled 58,100 tons, valued at US$90.8 million.

Source: El País Digital and BeefPoint

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