MercoPress. South Atlantic News Agency

Argentina's beef exports hit new records

Only 30% of Argentina's production was for domestic consumption

Beef exports from Argentina between January and September 2024 totaled US$ 2.122 billion, thus reaching its highest performance in the last 57 years, according to a report from the Economy Ministry's Agriculture, Livestock, and Fisheries Secretariat released Wednesday in Buenos Aires. Sales abroad amounted to 699,987 tons, it was also explained.

With the European Union regarded as one single destination market, shipments went up 46% to the United States; 21% to Chile; 11% to Israel; 7% to the EU; and 4% to China. Other markets posting significant progress were Mexico, Brazil, Russia, Canada, and Malaysia, which accounted for 99% of the transactions.

As for exports by item, 16% were chilled cuts and the rest were frozen bone-in and boneless cuts. In 2023 chilled cuts were exported to 31 destinations and so far this year only one has been added, while sales of frozen cuts increased from 31 to 44 destinations.

In the first three quarters of the year, cattle slaughtered amounted to 10.22 million head from 9.9 million on average between 2017 and 2022. Output of bone-in beef also outpaced the 2017-2022 figures. Only 30% was destined for the domestic market. Between January and September 2024, 699,987 tons of bone-in beef were shipped abroad.