By Garra - 17/09/2021 in Beef

Argentina loses US$ 100 million monthly in export reduction

The world’s fifth-largest beef exporter and an important Chinese supplier, Argentina is accumulating losses in the range of $100 million a month, after the government-imposed export ban in May. In addition to the financial loss, the country has made room for other competitors to consolidate their participation in the international market.

Uruguay and Paraguay, for example, increased their exports in recent months. Data provide for July by the National Meat Institute of Uruguay (INAC) showing a volume of 37,939 tons shipped abroad, compared to 36,113 tons of bone-in meat from Argentina.

In the first seven months of this year, Paraguay exported 211,650 tons of beef, in addition to 38.2 million kilos of giblets.

The 50% reduction in Argentine shipments was extended by the government in August through the end of October.

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