Beef trade: Argentina restarts shipments
Beef trade

Argentina restarts shipments

Imago / Xinhua
The government of the South American republic had banned the export of beef because it saw it as the reason for the rapid increase in domestic prices for the foodstuff, which is very important in Argentina.
The government of the South American republic had banned the export of beef because it saw it as the reason for the rapid increase in domestic prices for the foodstuff, which is very important in Argentina.

ARGENTINA, Buenos Aires. Argentina plans to restart beef exports, which it banned for 30 days in mid-May, this week.

This was announced by the Minister of Productive Development, Matías Kulfas, to domestic media, three days before the end of the export ban announced in May. Before that, however, details would have to be adjusted to ensure adequate supplies to local consumers. The idea is "that with a new scheme of rules of the game that we have finished adjusting, we can resume the export route next week," the minister said, according to media reports. The details are yet to be announced, he added.

He added that the aim is to enable exports while "keeping the Argentine tables well supplied." In the long term, production is also to be increased for this purpose, he said. When a production volume of five million tons of beef is reached, which is the main goal of the sectoral development plan, three million tons could be guaranteed for the domestic market while two million tons could be exported.

The government of the South American republic had banned the export of beef because it saw it as the reason for the rapid increase in domestic prices for the foodstuff, which is very important in Argentina. The companies were making speculative deals and using illegal business practices such as under-invoicing, it was alleged. The ban made waves in the industry. Farmers' associations warned of financial damage and a loss of image on the global market. The meat industry reacted with a delivery strike lasting several days.

Source: fleischwirtschaft.de; AgE
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