MercoPress. South Atlantic News Agency

Argentine beef exports hit new records in first semester of 2022

Meat processors want export restrictions eased down to capitalize on the global increase in the price of meat

Argentina's Rosario Stock Exchange Friday reported the first semester of 2022 showed record beef exports 39.4% above figures from the same period last year, worth US$1.75 billion. Beef shipments grew US$ 457 million from US$ 1.293 billion.

“Analyzing the evolution of 2022 indicators, it could be stated that exports recovered notably the rhythm to the point that in the first six months of this year the largest shipments of merchandise for this same period in history were made,” the Rosario Stock Exchange said in a statement.

The actual volume increase was 0.85% (from 418,200 tons to 421,770 tons), but revenues grew sharply thanks to an increase in international meat prices.

“Taking into account the small increase in dispatches, the jump in value corresponded largely to the rise in international prices of the product, which climbed during the period by 38.2%,” the document went on.

The Rosario Stock Exchange also highlighted the drop in the share of the foreign sector in total output. Between January and June of 2022, meat production grew 3.4% and exports registered a 28.3% share compared to 29% in the first semester of 2021.

In this scenario, meat processors are asking the government to be allowed to increase exports by 6,000 tons per month. “We have evaluated that we are in conditions to increase export volumes,” Daniel Urcía, vice-president of the Federation of Argentine Regional Cold Storage Industries (Fifra) told reporters in a message aimed at Agriculture Secretary Juan José Bahillo.